Certain of its moments have a greater felt worth than others; some experiences are intrinsically undesirable, the shadows of life; others, intrinsically sweet, a part of its sunshine. In the last analysis, all differences in value, including all moral distinctions, rest upon this disparity in the immediate worth of conscious states. [Footnote: Cf. G. Santayana, The Sense of Beauty, p. 104: "All worth leads us back to actual feeling somewhere, or else evaporates into nothing-into a word and a superstition." I cannot but feel that contemporary definitions of value that omit reference to hedonic differences e.g. that of Professor Brown (Journal of Philosophy, Psychology, and Scientific Methods, vol. II, p. 32): "Value is degree of adequacy of a potentiality to the realization of the effect by virtue of which it is a potentiality"-miss the real meaning of "value." We do, indeed, speak occasionally of x as having value as a means to y, when y is not good or a means to a good. But that seems to me a misuse of the word.] We may say absolutely that if it were not for this fundamental difference in feeling there would be no such thing as morality. There might conceivably be a world in which consciousness should exist without any agreeable or disagreeable qualities; in such a world nothing would matter; all acts would be equally indifferent. Or there might be a world in which all experiences were equally pleasurable or painful; in such a case all acts would be equally good or equally sad; there would be no ground for choice. One might in any of these hypothetical worlds be driven by mechanical impulse or fitful whim to do this or that, but there would be no rational basis for preference. Such, however, is not the case. Comparative valuation is possible; all secondary goods and evils arise, all morality, all art and religion and science have their wellspring in this brute fact, this primordial parting of the ways between the more and the less desirable phases of possible conscious life. Morality of an elementary type would exist on this level even without the further complications of actual life. At least a very important art would arise; whether or not we should call it morality is a mere matter of definition. For a choice between alternatives immediately felt goods would arise, and the problem of how to get the better kinds of experience and avoid the worse would demand solution. Every bit of plus value added to experience would make the world so much the brighter, as would every bit of pain avoided. There are, to be sure, the mystical optimisms and pessimisms to be reckoned with, the sweeping assertions of certain schools and individuals that everything is equally good or equally bad. Such undiscriminating formulas are either the mere objectification of a mood, of some unusual period of ecstasy or sorrow, a blind outcry of thanksgiving or of bitterness, or they are the clumsy expression