136 Political Economy* 
trary — the constant temptation to agreeable consumption, by an 
infinite choice of valuable commodities ; and to new accumulation, 
by an extensive range for enterprize, have caused them widely 
to circulate, and to encourage industry in all its vast ramifications. 
The preceding considerations appear to me to be the principal 
ones, that can be urged, theoretically, in support of the great utili- 
ty of foreign commerce, and, I believe, they warrant the following 
conclusions. 
1. Commerce generally is more henejicial^ in proportion as it 
is more foreign — ^that is, the less resembling each other in their 
situation, habits, and local circumstances, the parties are between 
whom it takes place. 
2. Foreign commerce, whenever it arises of its own accord, 
is useful as a matter of course. — It is exchange of commodities. 
None are delivered, except in return for others, and each party 
must prefer those it receives to those it gives. The business could 
not otherwise be pursued. 
3. Foreign commerce is particularly useful to countries of 
which the territory — is small ; the climate — .little diversified ; 
the productions and commodities of which are few in number, 
and peculiar in kind, whilst their situation facilitates distant in- 
tercourse.- — The more an empire, like that of China, is a world 
in itself, the less the want of foreign commerce is to be regreted.’^ 
I shall now proceed to examine the arguments which, in your 
political arithmetic you have advanced against foreign commerce, 
and against the commercial system generally — which must mean, 
the system of an unrestrained and extensive commercial inter- 
course between nations, and nations.! 
But, in the first place, I should wish to object to the idea of 
* This applies still more speciall} to the United States. T. C. 
! I do not object to commerce, or the foreign trade. I am no advocate for' 
restraining it. I think the interference of government to restrain or to pro- 
mote, or in any way to guide and controul the effects of individuals to gain 
wealth, is worse tlian injudicious, unless under circumstances of state necessi- 
ty ; where the interference is, not to promote or protect the interest of the 
individual, but that of the nation. 
Rut I think foreign trade is not so productive, so beneficial, so safe, so 
peaceful, as the home trade. 1 think it does not pay for national protection 
in any country. T. C, 
