Note 42 — Chapter XXIV
Reading edition
M. Say is of the same opinion with Adam Smith: "The most productive employment of capital, for the country in general, after that on the land, is that of manufactures and of home trade; because it puts in activity an industry of which the profits are gained in the country, while those capitals which are employed in foreign commerce, make the industry and lands of all countries to be productive, without distinction.
"The employment of capital, the least favourable to a nation, is that of carrying the produce of one foreign country to another." Say, vol. ii. p. 120.