Excerpt from The Elements
The inferiority of the value of this latter class, is evi dent from the fact, that, in seasons of scarcity, these are first relinquished. And again, the degree of the value of any substance, depends upon the number of desires which it can gratify. India Rubber, or Caoutchouc, a few years since, was used but for one purpose, that of rubbing out pencil marks. It is now used in the manu facture of shoes, and for several other very important purposes. The intensity of its value is, therefore, greatly increased.
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