What Is Free Trade?: An Adaptation of Frederic Bastiat's "Sophismes Éconimiques" Designed for the American ReaderBastiat, Frédéric
General
What Is Free Trade?: An Adaptation of Frederic Bastiat's "Sophismes Éconimiques" Designed for the American Reader
Bastiat, Frédéric
Free trade; Tariff -- United States
G, (an actual transaction) shipped by the Great Eastern on her last
voyage from New York, lard and other merchandise, worth in New York
$600,000, the fact of which, in the hurry of business, he failed to
report to the Custom House, and it therefore did not appear in the
exports. This lard was carried to England, where it found no sale, and
was reshipped to New York. G only escaped being charged duty on it
when it arrived, by swearing that it had been originally shipped from
here in good faith; yet it was entered as an import (free of duty),
and showed, according to Mr. Greeley's one eye, that the country was
on the road to ruin $600,000 worth.
H, lived in Brownsville, Texas, where he had a lot of arms and
gunpowder, worth $100,000. The Mexicans levied a very high import duty
on these articles, and they consequently bore a very high price in
Matamoras, just opposite, being worth in the market of that town no
less than $250,000. He accordingly conceived the idea of smuggling
them into Mexican territory, and, with the connivance of the Mexican
officials, (what rascals these foreign custom-house officials are, to
be sure!) actually succeeded in doing so, and thus realized the very
handsome profit of $150,000 in gold. The entire proceeds he invested
in Mexican indigo and cochineal, worth in Mexico $250,000, and in
Boston $275,000, in bond, plus charges. Of course, no export entry was
furnished to the customs collector at Brownsville; but Mr. Greeley
fastened his one eye on the indigo and cochineal, when it arrived in
Boston, and made up his mind that the country had lost $250,000. As
for H, he has invested $100,000 in more gunpowder and arms, and starts
for Brownsville next week, to try his luck again. With the other
$175,000 he has a notion of buying out the New York _Tribune_, and
setting it right on free trade, and other matters of the sort.
Public-domain text, read in full here on John Shaqi.
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