We have, then, to do with a value institution or process, far transcending in reach any special sort of value, and participating in the most diverse phases of our life. Its function resembles that of language, and its ideal may be said to be to do for value what language does for thought—furnish a universal medium of communicative growth. And just as language and the social organization based upon it are extended in their scope by the modern devices of cheap printing, mails, telegraphy, telephones, and the like, so the function of pecuniary valuation is extended by uniform money and by devices for credit and transfer, until the natural obstacles of distance, lack of knowledge, and lack of homogeneity are largely overcome. This mobilization of values through the pecuniary measure tends to make the latter an expression of the total life of society, so far as the values that stand for this life have actually become mobilized or translated into pecuniary terms. Although this translation is in fact only partial and, as I have tried to show, institutional, still the wide scope of pecuniary value, along with its precision, gives it a certain title to its popular acceptance as value in a sense that no other kind of value can claim. This also gives it that place as a regulator of social activity which economists have always claimed for it. Pecuniary value provides a motive to serve the pecuniary organism, a motive that penetrates everywhere, acts automatically, and adjusts itself delicately to the conditions of demand and supply. If more oranges are wanted in New York, a higher price is offered for them in California and Sicily; if more dentists are needed, the rewards of the profession increase and young men are attracted into it. Thus there is everywhere an inducement to supply those goods and services which the buying power in society thinks it wants, and this inducement largely guides production. At each point of deficient supply a sort of suction is set up to draw available persons and materials to that point and set them to work. Thus our life, in one of its main aspects, is organized through this central value institution or market, very much as in other aspects it is organized through language, the state, the church, or the family. It will be well to consider here the view that the sphere of pecuniary value, however wide, is yet distinctly circumscribed and confined to a special and, on the whole, inferior province of life. According to this view only the coarser and more material values can be measured in money, while the finer sorts, as of beauty, friendship, righteousness, and so on, are in their nature private and untranslatable, and so out of the reach of any generalizing process.