It would be waste of time and labour, in a treatise of this character, to devote several chapters to the evolution of money, or, rather, to the evolution of those articles that have served the usages of exchange. Those who desire to acquaint themselves with these historical facts must consult the many works devoted thereto. The world’s monetary systems, at the stage now reached by them--it does not follow that it is a final stage--are the outcome of experiments and improvements in national and international exchange. In primitive days direct barter was resorted to. Goods were exchanged directly for goods, commodities for commodities. The baker took his bread to the tailor when he was in need of a garment, and the maker of footwear took his handiwork to the baker or the butcher when he wanted food. This worked well enough in small communities living in circumscribed areas, having no intercourse with communities living at inaccessible distances. But as the communities grew, as their boundaries expanded, as they came into closer touch with other communities, as distance became shortened by the discoveries of means of transport, as individual and collective mentality strengthened, these primitive communities had to face the increasing inconveniences of direct barter. Necessity stimulated ingenuity and invention until in the course of ages the inconveniences were lessened by the use of selected articles for exchange. These were selected partly because of their scarcity and partly because of their durability, for it was discovered that scarce things were prized more highly than things that were abundant. That which was scarce, therefore, by being more highly prized became what we call more valuable. That is to say, more store was set by its possession. The possession of it excited admiration and envy and greed; admiration and envy are the bases of economic value to this day. They are not the bases of ethical value, but economic law and moral law are opposed in many directions.