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Not being empirical, it will make no pretence of furnishing the precious metals at less than the market-rate, either for exportation or hoarding; but it will have the effect of reducing them to their true position, that of merchandise, so that they may be exchanged for the products of other countries with profit. For the same reason it will not be redeemable.
It was a very sober city, too for the moment for a most sobering bill was pending; a bill to forbid the manufacture, exportation, importation, purchase, sale, borrowing, lending, stealing, drinking, smelling, or possession, by conquest, inheritance, intent, accident, or otherwise, in the State of Iowa, of each and every deleterious beverage known to the human race, except water.
Besides, a duty on that article, payable in England, and amounting to nearly one shilling on the pound, was taken off on its exportation to America, so that the inhabitants of the colonies saved ninepence on the pound. Here was the stumbling-block at the threshold of Lord North's administration.
They particularly suggested that an edict should forthwith be passed, forbidding the alienation of property and the exportation of goods in any form from Antwerp, together with concession of the right to the proprietors of reclaiming their stolen property summarily, whenever and wheresoever it might be found.
You certainly have a remarkable forecast about the chances of business." "I don't think there is much forecast," said Brandon, with a smile. "It was only the most ordinary calculation made from the well-known fact that the exportation this year had been slight. But there comes Hedley now," he continued, moving his head a little to one side so as to look up the street.
During this short period, its only effect must have been, by encouraging the exportation of the surplus produce of every year, and thereby hindering the abundance of one year from compensating the scarcity of another, to raise the price in the home market.
I did not have much sport, as I could see nothing worth shooting, but I was much interested in wading in the warm water to observe the multiform animal life of the reef. There was the "bêche-de-mer," the sea-cucumber, yellow or purplish-black, a shapeless mass lying in pools; this is a delicacy highly valued by the Chinese and therefore a frequent article of exportation.
A merchant, in the same manner, who is engaged in the foreign trade of consumption, when he collects goods for foreign markets, will always be glad, upon equal or nearly equal profits, to sell as great a part of them at home as he can. He saves himself the risk and trouble of exportation, when, so far as he can, he thus converts his foreign trade of consumption into a home trade.
Whenever the seasons were less propitious, the doubtful precautions of forming magazines of corn, fixing the price, and prohibiting the exportation, attested at least the benevolence of the state; but such was the extraordinary plenty which an industrious people produced from a grateful soil, that a gallon of wine was sometimes sold in Italy for less than three farthings, and a quarter of wheat at about five shillings and sixpence.
The only thing eatable, of which there was abundance, was Strasburg pie, paté de foie gras, the year's production of that delicacy having been stored in Strasburg for exportation. The famous library was greatly injured, but the cathedral was not materially hurt.
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