180. These evils, to a greater or less extent, attend every change in the value of the currency; and the importance of preserving it as far as possible unaltered in value, cannot be too strongly impressed upon all classes of the community. NOTES: 1. In Russia platinum has been employed for coin; and it possesses a peculiarity which deserves notice. Platinum cannot be melted in our furnaces, and is chiefly valuable in commerce when in the shape of ingots, from which it may be forged into useful forms. But when a piece of platinum is cut into two parts, it cannot easily be reunited except by means of a chemical process, in which both parts are dissolved in an acid. Hence, when platinum coin is too abundant, it cannot, like gold, be reduced into masses by melting, but must pass through an expensive process to render it useful. Chapter 15 On the Influence of Verification on Price 181. The money price of an article at any given period is usually stated to depend upon the proportion between the supply and the demand. The average price of the same article during a long period, is said to depend, ultimately, on the power of producing and selling it with the ordinary profits of capital. But these principles, although true in their general sense, are yet so often modified by the influence of others, that it becomes necessary to examine a little into the disturbing forces. 182. With respect to the first of these propositions, it may be observed, that the cost of any article to the purchaser includes, besides the ratio of the supply to the demand, another element, which, though often of little importance, is, in many cases, of great consequence. The cost, to the purchaser, is the price he pays for any article, added to the cost of verifying the fact of its having that degree of goodness for which he contracts. In some cases the goodness of the article is evident on mere inspection: and in those cases there is not much difference of price at different shops. The goodness of loaf sugar, for instance, can be discerned almost at a glance; and the consequence is, that the price is so uniform, and the profit upon it so small, that no grocer is at all anxious to sell it; whilst, on the other hand, tea, of which it is exceedingly difficult to judge, and which can be adulterated by mixture so as to deceive the skill even of a practised eye, has a great variety of different prices, and is that article which every grocer is most anxious to sell to his customers.