ue, which equalled $40,000, and the price of sale
was $320,000, which the consignee converted into merchandise,
principally Parisian goods. These goods, again, had to pay for
transportation to the sea-board, insurance, commissions, &c., ten per
cent.; so that when the return cargo arrived at New Orleans, its value
had risen to $352,000, and it was thus entered at the custom-house.
Finally, Mr. T realized again on this return cargo twenty per cent.
profits, amounting to $70,400. The goods thus sold for the sum of
$422,400.

If our legislators require it, I will send them an extract from the
books of Mr. T. They will there see, _credited_ to the account of
_profit and loss_, that is to say, set down as gained, two sums; the
one of $40,000, the other of $70,400, and Mr. T feels perfectly
certain that, as regards these, there is no mistake in his accounts.

Now what conclusion do our Congressmen draw from the sums entered into
the custom-house, in this operation? They thence learn that the United
States have exported $200,000, and imported $352,000; from whence
they conclude "_that she has spent, dissipated, the profits of her
previous savings; that she is impoverishing herself and progressing to
her ruin; and that she has squandered on a foreign nation_ $152,000
_of her capital_."

Some time after this transaction, Mr. T dispatched another vessel,
again freighted with national produce, to the amount of $200,000. But
the vessel foundered in leaving the port, and Mr. T had only further
to inscribe upon his books two little items, thus worded:

"_Sundries due to X_, $200,000, for purchase of divers articles
dispatched by vessel N."

"_Profit and loss due, to sundries_, $200,000, _for final and total
loss of cargo._"

In the meantime the custom-house inscribed $200,000 upon its list of
_exportations_, and as there can of course be nothing to balance this
entry on the list of _importations_, it hence follows that our
enlightened members of Congress must see in this wreck _a clear
profit_ to the United States of $200,000.

We may draw hence yet another conclusion, viz.: that according to the
Balance of Trade theory, the United States has an exceedingly simple
manner of constantly doubling her capital. 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 e