Principles of Political Economy;

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This document was viewed as of a character so important, that the House in- sisted upon its being read throughout. I shall therefore quote it entire. It is a petition from the Merchants and Traders of the City of London, and contains a full and a clearly-expressed exposi- tion of the free-trade principle. It states — " That foreign commerce is eminently condu- ' cive to the wealth and prosperit)' of the coun- ' try hy enabling it to import the commodities; ' for ihc production of which the soil..., climate, ' capital, and industry of other countries are hest ' calculated, and to export in payment those arti- ' cles for which its own situation is better adapted.
" That freedom from restraint is calculated to ' give the utmost extension to foreign trade, and ' the best direction to the capital and industry of ' the country.
" That the maxim of buying in the cheapest ' market, and selling in the dearest, which regu- ' lates every merchant in his individual dealings, ' is strictly applicable as the best rule for the trade ' of the whole nation.


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