Keowee courier. [volume] (Pickens Court House, S.C.) 1849-current, 1851-01-11

| '~0 ~ A'AAs AAOottOdQOtO1 WIFI III6
sanction of our six hundred legisla-
tors.
Mr.. Il. despatched from Havre a
vessel, freighted for the Uniten States
with French merchandise, principally
Partisan articles, valued at 2OO:1OOf.
1T was sold at twenty per cent.
profit on its original value, which
being 10000 francs, the price ofsale
was 330,0GG francs, which the assign
ee counted into cottons. The cot
tons again had to pay for expenses
OF transportation, insurance, commits
sIons, &C., ten per Get so that when
the return cargo arrived at Havre,
Its value had risen to $4,000 francs,
and it was thus entered atthe custom
house. Finally, Mr.. Il. realized a.
gam on this return cargo twenty per
cent profit, amounting to 70,400f
The cottons thus sold for 422, ,4OOf
IF Mr.. Lestlbud, is requires it, /
will send him al extract from the
books of Mr.. r, He will there see
credited TO the account of profit and
loss-that sto say, set down as gain
ed, two sums, the one Of 10000, the
other of 70,400, francs, and Mr.. Il.
feels perfectly certain that, as regards
these, there is no mistake in his ac-
count.
Now what conclusion does Mr..
Lestlbudois draw from the amounts
entered at the custom house in this
operation2 He thence learns that
France has exported 100000 francs
and imported $4,000 whence the
honorable deputy concludes that she
has spent, dissipated her previous sa.
wings, that she is impoverishing her
self, and that she has squandered on
a foreign nation $4,000 francs of her
capital.
Sometime after this transaction,
Mr.. L. despatched another vessel
again freighted with national produce
to the amount of 100000 francs. But
the vessel foundered on leaving the
port, and Mr.. S. had only to in
scribe on bis books two little items
thus worded: ~
'Sundries due TO X. 100000 francs,
for purchase of divers articles des-
patched by vessel N.
tOhI diu loss uuS 10 Su0drIGS
100000 francs for final and total loss
of cargo
In the meantime the custom house
inscribed 100000 francs upon the list
of expectations, and as there can OF
course be nothing 10 balance this en-
try on the list of importations, il
hence fal!aws. that Mr.. I.estibudois
and the Chamber must see in this
wreck, clear profit to France, of
100000 francs.
We may draw, however, vet a.
mother conclusion, viz; that accor-
ding to the Balance of Trade theory,
France has an exceedingly simple
manner of constantly doubling her
capitol, 1t is only necessary, to ac-
coInplisIl this, that she should, after
entering at the custom house her ar
ticles for expectation, cause them to
be thrown into the sea. BY this
course, her expectations can speedily
be made 10 equal her capital; impor-
tations Willie nothing, aud our gain
will be all that the ocean has swal.
lowed up,
You are joking, inc profectiionists
will reply, You know that il is in-
possible thatwe should utter such alb
surdities. Nevertheless, 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 in your power
to do.
The truth is, that the theory ofthe
balance OF trade should be precisely
reversed. The profits accruing to
the nation from any foreign COM
uneTce should be calculated by the
overplus of the importation above
the expectation. This overplus, of
fer the deduction of expnses, Is the
real gain.
Here we have the true theory, and
tits one which leads directly 10 free
dom iii trade, lnow, gentlemen, a.
sbandon you this theory, as have
done all oseofthe preceding chan
iers. DO with It as You please, ex-
aggerate II as you will; It has moth
ing 10 fear. Push it to the farthesS
extreme; imagine, if Il so please you,
hat foFegn natinns should innndate
us with useful produce Of every de-
scrittIon, and ask nothing iIreturn;
that our innportations should be inf
nSse. and our expectations nothing.
Imagine all this, and still I defy YOU
TO prove that we shalI be the pooser
IN conse 1uence.