principally Parisian goods. These goods, again, had to pay for
transportation to the sea-board, insurance, commissions, &c., ten per
cent.; so that when the return cargo arrived at New Orleans, its value
had risen to $352,000, and it was thus entered at the custom-house.
Finally, Mr. T realized again on this return cargo twenty per cent.
profits, amounting to $70,400. The goods thus sold for the sum of
$422,400.

If our legislators require it, I will send them an extract from the
books of Mr. T. They will there see, _credited_ to the account of
_profit and loss_, that is to say, set down as gained, two sums; the
one of $40,000, the other of $70,400, and Mr. T feels perfectly
certain that, as regards these, there is no mistake in his accounts.

Now what conclusion do our Congressmen draw from the sums entered into
the custom-house, in this operation? They thence learn that the United
States have exported $200,000, and imported $352,000; from whence
they conclude "_that she has spent, dissipated, the profits of her
previous savings; that she is impoverishing herself and progressing to
her ruin; and that she has squandered on a foreign nation_ $152,000
_of her capital_."

Some time after this transaction, Mr. T dispatched another vessel,
again freighted with national produce, to the amount of $200,000. But
the vessel foundered in leaving the port, and Mr. T had only further
to inscribe upon his books two little items, thus worded:

"_Sundries due to X_, $200,000, for purchase of divers articles
dispatched by vessel N."