We cannot suppose that all the merchants of the world, for centuries back, should have so little understood their own affairs, as to have kept their books in such a manner as to represent gains as losses, and losses as gains.
Truly it would be easier to believe that Mr.Lestiboudois is a bad political economist.
A merchant, one of my friends, having had two business transactions, with very different results, I have been curious to compare on this subject the accounts of the counter with those of the custom-house, interpreted by Mr.Lestiboudois with the sanction of our six hundred legislators.
Mr.T...

despatched from Havre a vessel, freighted, for the United States, with French merchandise, principally Parisian articles, valued at 200,000 francs.

Such was the amount entered at the custom-house.

The cargo, on its arrival at New Orleans, had paid ten per cent.

expenses, and was liable to thirty per cent.