David Ricardo：On the Principles of Political Economy and Taxation, Excerpt 157

If the markets be favourable for the exportation of wine from Portugal to England, the exporter of the wine will be a seller of a bill, which will be purchased either by the importer of the cloth, or by the person who sold him his bill; and thus without the necessity of money passing from either country, the exporters in each country will be paid for their goods. Without having any direct transaction with each other, the money paid in Portugal by the importer of cloth will be paid to the Portuguese exporter of wine; and in England by the negociation of the same bill, the exporter of the cloth will be authorized to receive its value from the importer of wine.

Source： https://www.gutenberg.org/ebooks/33310
Locator：Excerpt 157 · Verified：2026-10-19 · Verification：Short excerpt

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