By this system of laws, therefore, the carrying trade was in effect prohibited.

此，根据这种法律体系，利交易实际上是被禁止的。

The carrying trade, though it deserves no preference, ought not to be precluded, but to be left free, like all other trades.

利交易虽然不得优先考虑，但不应该被排除，而应该像所有其他交易一样免费。

But though the carrying trade certainly deserves no peculiar encouragement, though the motive of the institution was, perhaps, abundantly foolish, the institution itself seems reasonable enough.

但是，利交易当然不得特别鼓励，该机构的动机可能非常愚蠢，但该机构本身似乎足够合理。