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From The Collaborative International Dictionary of English v.0.48:
Value \Val"ue\ (v[a^]l"[=u]), n. [OF. value, fr. valoir, p. p. valu, to be worth, fr. L. valere to be strong, to be worth. See Valiant.] 1. The property or aggregate properties of a thing by which it is rendered useful or desirable, or the degree of such property or sum of properties; worth; excellence; utility; importance. [1913 Webster] [1913 Webster] Ye are all physicians of no value. --Job xiii. 4. [1913 Webster] Ye are of more value than many sparrows. --Matt. x. 31. [1913 Webster] Caesar is well acquainted with your virtue, And therefore sets this value on your life. --Addison. [1913 Webster] Before events shall have decided on the value of the measures. --Marshall. [1913 Webster] 2. (Trade & Polit. Econ.) Worth estimated by any standard of purchasing power, especially by the market price, or the amount of money agreed upon as an equivalent to the utility and cost of anything. [1913 Webster] An article may be possessed of the highest degree of utility, or power to minister to our wants and enjoyments, and may be universally made use of, without possessing exchangeable value. --M'Culloch. [1913 Webster] Value is the power to command commodities generally. --A. L. Chapin (Johnson's Cys.). [1913 Webster] Value is the generic term which expresses power in exchange. --F. A. Walker. [1913 Webster] His design was not to pay him the value of his pictures, because they were above any price. --Dryden. [1913 Webster] Note: In political economy, value is often distinguished as intrinsic and exchangeable. Intrinsic value is the same as utility or adaptation to satisfy the desires or wants of men. Exchangeable value is that in an article or product which disposes individuals to give for it some quantity of labor, or some other article or product obtainable by labor; as, pure air has an intrinsic value, but generally not an exchangeable value. [1913 Webster] 3. Precise signification; import; as, the value of a word; the value of a legal instrument --Mitford. [1913 Webster] 4. Esteem; regard. --Dryden. [1913 Webster] My relation to the person was so near, and my value for him so great --Bp. Burnet. [1913 Webster] 5. (Mus.) The relative length or duration of a tone or note, answering to quantity in prosody; thus, a quarter note [?] has the value of two eighth notes [?]. [1913 Webster] 6. In an artistical composition, the character of any one part in its relation to other parts and to the whole; -- often used in the plural; as, the values are well given, or well maintained. [1913 Webster] 7. Valor. [Written also valew.] [Obs.] --Spenser. [1913 Webster] 8. (a) That property of a color by which it is distinguished as bright or dark; luminosity. (b) Degree of lightness as conditioned by the presence of white or pale color, or their opposites. [Webster 1913 Suppl.] 9. (Math.) Any particular quantitative determination; as, a function's value for some special value of its argument. [Webster 1913 Suppl.] 10. [pl.] The valuable ingredients to be obtained by treatment from any mass or compound; specif., the precious metals contained in rock, gravel, or the like; as, the vein carries good values; the values on the hanging walls. [Webster 1913 Suppl.] Value received, a phrase usually employed in a bill of exchange or a promissory note, to denote that a consideration has been given for it. --Bouvier. [1913 Webster]