[What Is Free Trade? by Frederick Bastiat]@TWC D-Link bookWhat Is Free Trade? CHAPTER VI 6/23
He proceeded to France, sold his mine to C for a million, which he invested in French muslin-de-laines, buttons, and glassware, worth a million in France, but worth $1,100,000 in Philadelphia, ex duty and plus transportation, &c.
These sold, B netted an undoubted profit of $100,000, besides getting rid of his mine; but, according to the Commerce and Navigation Returns, the exports were nothing, and the imports $1,000,000; showing, according to Mr.Greeley's solitary point of view, a loss to the country of $1,000,000. C, the French owner of the Nevada mine, had a million more with which to develop it.
Hearing that French cloths and gloves had a good sale in Boston, he invested his million in these goods, sailed for Boston with them, sold them there in bond and plus exportation, for $1,100,000, which he at once invested in machinery, labor, &c., destined for Nevada.
So far, C made a profit of $100,000, and had $2,100,000 invested in an American gold mine; but, according to the Commerce and Navigation Returns, the exports were nothing, and the imports $1,000,000; according to Mr.Greeley's solitary point of view, a loss to the country of $ 1,000,000. D, had a rich uncle in Rio Janeiro who died and left him a million.
D ordered this sum to be invested in hides and shipped to him at Boston. These hides were worth a million in Rio, but $1,100,000 in Natick, ex duty and plus transportation.
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