I.  You  fancy,  in  locking  back  at
our  past  explanations,  that  in  the  most
common  case  of  all,  viz.  the  ordinary
sale  of  ordinary  articles,  we  have  for-
gotten one  thing.  What  is  that?
Why  this :  upon  Ricardo*s  main  prin-
ciple we  affirmed  that,  in  the  usual
sale  of  commodides  under  the  law  of
cost,  this  cost  will  resolve  itself  into
the  quantity  of  labour — not  into  the
value  of  labour.  Now,  let  that  stand,
you  say :  let  that  be  true :  bnt  still
you  think  we  have  forgotten  one  ele-
ment, viz.  the  raw  material.  There
is  the  day's  labour  in  making  the
shoes  ;  that  doubtless  b  one  element :
but  there  is  also  the  leather.  True:
but  that  also  has  been  sold  and  bought
on  the  veiy  same  principle  of  the  la-
bour which  produced  it.  The  ebjee-
tion  merely  proves  that  there  have
been  two  stages  in  the  production  oH
the  shoes,  and  not  a  single  stage.
