Frédéric Bastiat：Economic Sophisms, Excerpt 113

M. T. despatched a ship from Havre to the United States, with a cargo of French goods, chiefly those known as _articles de Paris_, amounting to 200,000 francs. This was the figure declared at the Customhouse. When the cargo arrived at New Orleans it was charged with 10 per cent, freight and 30 per cent, duty, making a total of 280,000 francs. It was sold with 20 per cent, profit, or 40,000 francs, and produced a total of 320,000 francs, which the consignee invested in cottons. These cottons had still for freight, insurance, commission, etc., to bear a cost of 10 per cent. so that when the new cargo arrived at Havre it had cost 352,000 francs, which was the figure entered in the Customhouse books. Finally M. T. realized upon this return cargo 20 per cent, profit, or 70,400 francs; in other words, the cottons were sold for 422,400 francs.

Source： https://www.gutenberg.org/ebooks/44145
Locator：Excerpt 113 · Verified：2026-10-19 · Verification：Short excerpt

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