It is only necessary, to accomplish this, that she should, after entering into the custom-house her articles for exportation, cause them to be thrown into the sea.

By this course, her exportations can speedily be made to equal her capital; importations will be nothing, and our gain will be, all which the ocean will have swallowed up.
You are joking, the protectionists will reply.

You know that it is impossible that we should utter such absurdities.

Nevertheless, I answer, you do utter them, and what is more, you give them life, you exercise them practically upon your fellow citizens, as much, at least, as is in your power to do.
The truth is, that the theory of the Balance of Trade should be precisely _reversed_.

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