greatest possible quantity of that. In furtherance of this view, money has been taken from the people at large, and given to their merchants to tempt them to go and sell at a loss, rather than not get hold of foreign money; and again, money has been exacted from foreigners who come to sell their goods in our ports. Nothing is gained by this to the nation, as the foreigners must be repaid these duties as well as the cost of their articles; and it is clear to every observer how much is lost to all the parties concerned. Yet such is the false principle on which commercial treaties have hitherto been founded. This child’s-play of universal circumvention is pursued less vigorously than it was; and some of the players are so tired of the wasteful and wearying sport as to be ready to give it up: but, owing to the false belief that no one could yield without the rest, the absurdity has endured longer than might have been expected. It was not perceived, till lately, that it is a good thing to any nation, as it would be to any man, to get what it wants, even if it be compelled to pay in money when it had rather pay in goods: especially when it is certain, from the ascertained self-balancing quality of money, that it will soon flow in from some other quarter in exchange for the goods wanted to be sold. When so plain a truth as this is once experienced, it cannot but spread; and fewer examples will be henceforth seen of nations keeping themselves poor, lest their neighbouring customers should grow rich. How rapidly such truth runs, when once sent off on its career, may be seen from the following facts: it being borne in mind that nations are educated by the experience of centuries, as men are of years.