THIRD PART.

"Well, after all," said John, "it's lucky for us they won't take our English money for their goods in foreign countries; for, if we sent them money instead of goods, it might be quite another story."—"And why not send them money?" enquired the landlord. "Why, your honour's joking, now," said John, with a smile and a shrug: "you know it would not encourage our manufactures; for we do not manufacture money: we get it from South America, as I have heard."—"And have you heard," asked the landlord, "how we pay for it?"—"Why no, I can't say I have," said John, ruminating. "Pay for money! why it's like giving them the money back again; it can't be so: and yet it must be paid somehow."—"It's sure enough," cried Bob, "the Americans will not send it us for nothing: they would no more do that than the French would send us their silks for nothing: and yet, how to pay for money I can't well guess. We cannot give gold for gold; that would be like sending coals to Newcastle."

"If we paid for the money in cash," said John, "it would be just sending them back what they had sent us. And there would be Edition: current; Page: [167] all the expense of sending it across the ocean and back again, just for nothing at all."

"Besides, I doubt their taking it back," said Bob; "for they want any thing there rather than money."—"True," said the landlord; "they are all so busy digging for gold and silver there, that they have no time to manufacture goods; so it is manufactured goods which they want."

"Then we pay for money with manufactured goods," said John: "that seems very odd to us, who are so used to do just the contrary, and pay for goods with money."—" And what do the Americans do?" said the landlord.—"They give us the money in return for our goods," replied John.

"Why, father," cried Tom, "methinks that's no more nor less than buying our goods."

"Sure enough," cried Bob, "they buy our goods with gold, and we buy their gold with goods."

"Now," said the landlord, "supposing that you sent money to France to pay for their silks and laces, you would want more gold from America, and you must manufacture more goods to pay for that gold."

"Ah, so it is," cried John, as the truth suddenly came across his mind; "and it's all one whether we send the goods to America to pay Edition: current; Page: [168] for the gold, or to France to pay for the silks."

"In both cases," continued the landlord, "the labouring manufacturer will have employment. Thus, you see, my friends, work in one country is sure to produce work in another country, provided a free trade—that is, liberty to exchange goods—be allowed. But, though this advantage will be general, I do not mean to say that it will be without exception: some manufactures may occasionally suffer. If we import French silks and French china, we shall make less silk and less china at home; but then, other manufactures will flourish in proportion as these fail; so that, if workmen are turned off in the one, they may find employment in the other."

"Ay, but," observed John, "it's no such easy matter to turn one's hand from one sort of work to another."

"That's very true," replied the landlord; "and many are the poor who suffer from being obliged to make such a change. This world is not perfect, as we all well know; but it is improving; and a free foreign trade would do much towards increasing the industry, wealth, and comforts of the poor; for, I trust you are now satisfied, that the country which deals with foreign nations will employ considerably more Edition: current; Page: [169] labourers than those which produce and manufacture only for themselves."

The landlord now took his leave; and John confessed that he had explained it all so clearly, that he had been quite brought over to his way of thinking. Patty had understood so far as related to her wedding gown, which she now took up, and skipped away in great glee to have it made up.

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