Social Comptabilism: The Cheque and Clearing Service in the Austrian Postal Savings Bank. Proposed Law laid before the Chamber of Representatives of BelgiumSolvay, Ernest
General
Social Comptabilism: The Cheque and Clearing Service in the Austrian Postal Savings Bank. Proposed Law laid before the Chamber of Representatives of Belgium
Solvay, Ernest
Postal savings banks; Postal savings banks -- Austria
Let us note, that, as it should do the formula _v'/v_ = E'/E shows that
the unity is eliminated when the point in question is the estimate of
relative values.
It is needless to say that we do not insist on the practical
possibility of the determination of the coefficients E and E', which
intervene in the preceding formula. We have in effect said that the
factors _d_, _h_ and _o_, do not appear to us determinable; we limit
ourselves simply to showing here, the theoretical possibility of the
system.
What is important to remark is that in proceeding, as we have just
pointed out, in all estimates of value and in consequence in the
registration of all transactions, the variation in the value of the
material support, corn, metal, etc. of the unity adopted does not
intervene in any way.
It will be further seen and we would insist on this point, that the
common denominator of the value of things takes in this system, by the
fact of its invariability, the character of a common measure; that it
can in consequence be taken as unity, and considered in an abstract way.
In fact this unity served once in a certain place and at a given moment
to fix the initial value of things. From that moment it separates
itself from the material thing which served to define it, which has
momentarily represented it, and which has served as a support in our
mind to effect the operations necessary to the relative fixing of the
value of things. These operations made, it is of little consequence if
the value itself of the kilogram of wheat varies, as is the case with
the value of every thing else. Its initial value was for ever fixed, it
can be taken as absolutely permanent and immutable,--the fundamental
condition which a unity of measure ought to satisfy.
In like manner original values of all kinds are equally constant
quantities and anyone from among them might be taken as unity.
In due course the actual values of things alter; varying continually,
and it is the same with the kilogram of wheat or with any support
whatever that has served to define the unity. The new values will
always express themselves numerically by means of the fixed unity,
although that has ceased to have a material representation. In
practice the new numerical values will be obtained very easily; from
the theoretical point of view they are fixed by means of the formula
already given:
_v'_ = _v_ × E'/E
a formula which by the way, shows that if it happened that for anything
at any moment and at any place, the elements _d_, _h_ and _o_ took
values such that the term (_d'_ × _h'_)/_o'_ should return to a value
equivalent to its initial value (_d_ × _h_)/_o_, the value of this same
thing would again become identical with its initial value.
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