Reflections on the Formation and Distribution of Riches
33. Commerce gives in all merchandize a current value with respect to any other merchanize; from whence it follows that
Enlightenment Anne Robert Jacques Turgot EnglishCorn is not only exchanged for wine, but also for any object which the proprietors of the corn may stand in need of as wood, leather, woollen, cotton, &c. it is the same with wine and every other particular species. If a bushel of corn is equivalent to six pints of wine, and a sheep is equivalent to three bushels of corn, the same sheep will be equivalent to eighteen pints of wine. He who having the corn, wants the wine, may, without inconvenience, exchange his corn for a sheep, in order afterwards to exchange the sheep for the wine he stands in need of.