"_Sundry goods debtors to X_, 200,000 francs, for purchases of different commodities despatched by the ship N. "_Profit and loss debtors to sundry goods_, 200,000 francs, in consequence of _definitive and total loss_ of the cargo." At the same time, the Customhouse books bore an entry of 200.000 francs in the list of _exportations_; and as there was no corresponding entry to make in the list of _importations_, it follows that M. Lestiboudois and the Chamber will see in this shipwreck _a clear and net profit_ for France of 200,000 francs. There is still another inference to be deduced from this, which is, that according to the theory of the balance of trade, France has a very simple means of doubling her capital at any moment. It is enough to pass them through the Customhouse, and then pitch them into the sea. In this case the exports will represent the amount of her capital, the imports will be _nil_, and even impossible, and we shall gain all that the sea swallows up. This is a joke, the protectionists will say. It is impossible' we could give utterance to such absurdities. You do give utterance to them, however, and, what is more, you act upon them, and impose them on your fellow-citizens to the utmost of your power. The truth is, it would be necessary to take the balance of trade _backwards [au rebours]_, and calculate the national profits from foreign trade by the excess of imports over exports. This excess, after deducting costs, constitutes the real profit. But this theory, which is true, leads directly to free trade. I make you a present of it, gentlemen, as I do of all the theories in the preceding chapters. Exaggerate it as much as you please--it has nothing to fear from that test. Suppose, if that amuses you, that the foreigner inundates us with all sorts of useful commodities without asking anything in return, that our imports are _infinite_ and exports _nil_, I defy you to prove to me that we should be poorer on that account. VII. OF THE MANUFACTURERS OF CANDLES, WAX-LIGHTS, LAMPS, CANDLESTICKS, STREET LAMPS, SNUFFERS, EXTINGUISHERS, AND OF THE PRODUCERS OF OIL, TALLOW, ROSIN, ALCOHOL, AND, GENERALLY, OF EVERYTHING CONNECTED WITH LIGHTING. To Messieurs the Members of the Chamber of Deputies. Gentlemen,--You are on the right road. You reject abstract theories, and have little consideration for cheapness and plenty Your chief care is the interest of the producer. You desire to emancipate him from external competition, and reserve the _national market for national industry_. We are about to offer you an admirable opportunity of applying your--what shall we call it? your theory? No; nothing is more deceptive than theory; your doctrine? your system? your principle? but you dislike doctrines, you abhor systems, and as for principles, you deny that there are any in social economy: we shall say, then, your practice, your practice without theory and without principle.