richer is he.

The following passage occurs in the writings of a French
protectionist:

"If fifteen millions of merchandise sold to foreign nations, be taken
from our ordinary produce, calculated at fifty millions, the
thirty-five millions of merchandise which remain, not being sufficient
for the ordinary demand, will increase in price to the value of fifty
millions. The revenue of the country will thus represent fifteen
millions more in value.... There will then be an increase of fifteen
millions in the riches of the country; precisely the amount of the
importation of money."

This is droll enough! If a country has made in the course of the year
fifty millions of revenue in harvests and merchandise, she need but
sell one-quarter to foreign nations, in order to make herself
one-quarter richer than before! If then she sold the half, she would
increase her riches by one-half; and if the last hair of her wool, the
last grain of her wheat, were to be changed for cash, she would thus
raise her product to one hundred millions, where before it was but
fifty! A singular manner, certainly, of becoming rich. Unlimited price
produced by unlimited scarcity!

To sum up our judgment of the two systems, let us contemplate their
different effects when pushed to the most exaggerated extreme.

According to the protectionist just quoted, the French would be quite
as rich, that is to say, as well provided with everything, if they
had but a thousandth part of their annual produce, because this part