The regulation does not state that violative WPM must be returned to any particular country.It simply states that the violative WPM may not come into the U.S. and may be re-exported.
This means that all exports, re-exports, and transfers to these entities of any items originating in the United States, will now require an export license.
But, Secondly, A great part of them might be re-exported to other countries, where, being sold with profit, they might bring back a return, equal in value, perhaps, to the prime cost of the whole French goods imported.
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However, he saw no problem in spending gold abroad if it was used to acquire goods that were then re-exported for a larger sum, ultimately returning more gold to the country than had initially been spent.
It's just people are now thinking about things of the nature of, well, what are we going to do if we can no longer export into the United States and be competitive?
The progress of the linen manufacture of Great Britain, it is commonly said, has been a good deal retarded by the drawbacks upon the re-exportation of German linen to the American colonies.
What the revenue at present loses by drawbacks upon the re-exportation of foreign goods, which are afterwards re-landed and consumed at home, would, under this system, be saved altogether.
So you sell goods that you've imported, you then re-export them, you send them out of your country to someone else, and that other country sends you bullion.
The same thing may be said of the drawbacks upon the re-exportation of foreign goods imported, which, in Great Britain, generally amount to by much the largest part of the duty upon importation.
Its importation, indeed, was subjected to a small duty of sixpence the hundred weight; but its re-exportation was subjected to the enormous duty of one pound ten shillings the hundred weight.
Well, the idea about the re-exports that we've mentioned with Munn, that came from an Italian thinker called Serra, and he was the person who influenced Munn.