ice, money has
two distinct functions to perform. It is the measure of value inasmuch
as it is the socially recognised incarnation, of human labour; it is the
standard of price inasmuch as it is a fixed weight of metal. As the
measure of value it serves to convert the values of all the various
commodities into prices or imaginary quantities of gold. As the standard
of price it measures those quantities of gold.

The word pound was the money-name given to an actual pound weight of
silver. When, as a measure of value, gold superseded silver, the word
pound became, as a money-name, differentiated from the same word as a
weight-name. The prices, or quantities of gold, into which the values of
commodities are ideally changed are now expressed in the names of coins,
or in the legally valid names of the subdivisions of the gold standard.
Hence, instead of saying, "A quarter of wheat is worth an ounce of
gold," the English would say, "It is worth L3 17s. 10-1/2d." In this
fashion commodities express by their prices how much they are worth, and
money serves as _money of account_ whenever it is a question of fixing
the value of an article in its money-form. When Anarcharsis was asked
for what purpose the Greeks used money, he replied, "For reckoning."

Every labourer in adding new labour also adds new value. In what way?
Evidently, only by labouring productively in a particular way: the
spinner by his spinning, the weaver by his weaving, the smith by his
forging. Each use-value disappears, only to reappear under a new form in
some new use-value. By virtue of its general character, as being
expenditure of human labour-power in the abstract, spinning adds a new
value to the values of cotton and spindle. On the other hand, by virtue
of its special character, as being a concrete, useful process, the same
labour of spinning both transfers the values of the means of production
to the product and preserves them in the product. Hence at one and the
same time there is produced a twofold result.

By the simple addition of a certain quantity of labour, new value is
added, and by the quality of this added labour the original values of
the means of production are preserved in the product. That part of
capital which is represented by means of production, by the raw
material, auxiliary material, and the instruments of labour, does not,
in the process of production, undergo any quantitative alteration of
value. I therefore call it the constant