Frédéric Bastiat：Economic Sophisms, Excerpt 270

And what distinguishes our remittance of £20,000 which we have made to Germany from a tribute paid to her is this, that she has not received the money gratuitously, but has given us in exchange a thousand horses, which we have judged to be worth the £20,000.

Source： https://www.gutenberg.org/ebooks/44145
Locator：Excerpt 270 · Verified：2026-10-19 · Verification：Short excerpt

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