Note 15 — XI.

I understand M. Bastiat to mean merely that export duties are not necessarily more onerous than import duties. The statement that all taxes are paid by the consumer, is liable to important modifications. An export duty may be laid in such way, and on such articles, that it will be paid wholly by the foreign consumer, without loss to the producing country, but it is only when the additional cost does not lessen the demand, or induce the foreigner to produce the same article. Translator.