160 
POLITICAL ECONOMY 
nevertheless. They consist in the carrying 
services performed by one country for 
another, for instance, by an English vessel 
in trade between Spain and America, and 
also in agency and financial work. For 
these two classes of services England receives 
enormous sums annually. Their value is a 
part of her real exports since they are actual 
services provided for other countries, though 
they do not appear in her recorded exports. 
In discharge of them, however, there does 
appear on the other side of the account a large 
volume of tangible imports. 
Imports and exports which do not figure in 
trade statistics are known as “ invisible,” 
but though overlooked by the official eye 
they are as real in value as the most ponder 
able things. Enough has now been said to 
demonstrate that, in the sense in which it 
has been used, the statement that exports 
pay for imports is correct. Finally, it may 
be added that the omitted cost of transport 
of imported goods can be attached to their 
value to make our theory exhaustive of the 
facts. 
Ordinarily there are gains accruing from 
international trade which are undoubted and 
considerable. Through foreign trade a country