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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  ponderable ­
  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