The profits accruing to the nation from any foreign commerce should be calculated by the overplus of the importation above the exportation.

This overplus, after the deduction of expenses, is the real gain.

Here we have the true theory, and it is one which leads directly to freedom in trade.

I now, gentlemen, abandon you this theory, as I have done all those of the preceding chapters.

Do with it as you please, exaggerate it as you will; it has nothing to fear.