Văl'ūe1, n.
(văl'yu), n. [O. Fr. value, from valoir, p. p. valu, to be worth, from Lat. valere, to be strong, to be worth.]
Sense 1. The property or properties of a thing which render it useful; or the degree of such property or properties; worth; utility; importance. “Before events shall have decided on the value of the measures.” Marshall.
Ye are all physicians of no value. Job xiii. 4.
Ye are of more value than many sparrows. Matt. x. 31.
Cæsar is well acquainted with your virtue, And therefore sets this value on your life. Addison.
Sense 2. Hence, precise signification; import; as, the value of a word or phrase. Mitford.
Sense 3. Rate or estimated worth; price deemed or accepted as equivalent to the utility of any thing; amount obtainable in exchange for a thing.
His design was not to pay him the value of his pictures, because they were above any price. Dryden.
☞ In political economy, value is 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. “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.” McCulloch.
Sense 4. Esteem; regard. [Rare.]
My relation to the person was so near, and my value for him so great. Burnet.
Sense 5. (Mus.) The relative length or duration of a tone or note, answering to quantity in prosody; thus, a crotchet [♩] has the value of two quavers [♫].
Value received, a phrase usually employed in a bill of exchange or promissory note, to denote that a consideration has been given for it. Bouvier.