ABSTRACT
This chapter examines that all calculations concerning the balance of trade are founded on very uncertain facts and suppositions. It is very usual, in nations ignorant of the nature of commerce, to prohibit the exportation of commodities, and to preserve among themselves whatever they think valuable and useful. The jealous fear, with regard to money, has prevailed among several nations; and it required both reason and experience to convince any people, that these prohibitions serve to no other purpose than to raise the exchange against them, and produce a still greater exportation. These errors are gross and palpable: but there still prevails, even in nations well acquainted with commerce, a strong jealousy with regard to the balance of trade, and a fear. The skill and ingenuity of Europe in general surpasses perhaps that of China, with regard to manual arts and manufactures; yet are one never able to trade thither without great disadvantage.
