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To¡¡the¡¡extension¡¡of¡¡the¡¡foreign¡¡trade¡¡and¡¡the¡¡promotion¡¡of



fisheries¡¡he¡¡devoted¡¡special¡¡attention¡£¡¡He¡¡re¡­established¡¡the¡¡trade



with¡¡the¡¡Levant£»¡¡enlarged¡¡that¡¡with¡¡the¡¡colonies£»¡¡and¡¡opened¡¡up¡¡a



trade¡¡with¡¡the¡¡North¡£¡¡Into¡¡all¡¡branches¡¡of¡¡the¡¡administration¡¡he



introduced¡¡the¡¡most¡¡stringent¡¡economy¡¡and¡¡perfect¡¡order¡£¡¡At¡¡his



death¡¡France¡¡possessed¡¡50£»000¡¡looms¡¡engaged¡¡in¡¡the¡¡manufacture¡¡of



woollens£»¡¡she¡¡produced¡¡annually¡¡silk¡¡manufactures¡¡to¡¡the¡¡value¡¡of



50¡¡millions¡¡of¡¡francs¡£¡¡The¡¡State¡¡revenues¡¡had¡¡increased¡¡by¡¡28



millions¡¡of¡¡francs¡£¡¡The¡¡kingdom¡¡was¡¡in¡¡possession¡¡of¡¡flourishing



fisheries£»¡¡of¡¡an¡¡extensive¡¡mercantile¡¡marine£»¡¡and¡¡a¡¡powerful



navy¡££¨1*£©



¡¡¡¡¡¡¡¡A¡¡century¡¡later£»¡¡the¡¡economists¡¡have¡¡sharply¡¡censured¡¡Colbert£»



and¡¡maintained¡¡that¡¡this¡¡statesman¡¡had¡¡been¡¡anxious¡¡to¡¡promote¡¡the



interests¡¡of¡¡manufactures¡¡at¡¡the¡¡expense¡¡of¡¡agriculture£º¡¡a¡¡reproach



which¡¡proves¡¡nothing¡¡more¡¡than¡¡that¡¡these¡¡authorities¡¡were



themselves¡¡incapable¡¡of¡¡appreciating¡¡the¡¡nature¡¡of¡¡manufacturing



industry¡££¨2*£©



¡¡¡¡¡¡¡¡If£»¡¡however£»¡¡Colbert¡¡was¡¡in¡¡error¡¡in¡¡opposing¡¡periodical



obstacles¡¡to¡¡the¡¡exportation¡¡of¡¡raw¡¡materials£»¡¡yet¡¡by¡¡fostering¡¡the



growth¡¡and¡¡progress¡¡of¡¡native¡¡industries¡¡he¡¡so¡¡greatly¡¡increased



the¡¡demand¡¡for¡¡agricultural¡¡produce¡¡that¡¡he¡¡gave¡¡the¡¡agricultural



interest¡¡tenfold¡¡compensation¡¡for¡¡any¡¡injury¡¡which¡¡he¡¡caused¡¡to¡¡it



by¡¡the¡¡above¡­named¡¡obstacles¡£¡¡If£»¡¡contrary¡¡to¡¡the¡¡dictates¡¡of



enlightened¡¡statesmanship£»¡¡he¡¡prescribed¡¡new¡¡processes¡¡of



manufacture£»¡¡and¡¡compelled¡¡the¡¡manufacturers¡¡by¡¡penal¡¡enactments¡¡to



adopt¡¡them£»¡¡it¡¡should¡¡be¡¡borne¡¡in¡¡mind¡¡that¡¡these¡¡processes¡¡were



the¡¡best¡¡and¡¡the¡¡most¡¡profitable¡¡known¡¡in¡¡his¡¡day£»¡¡and¡¡that¡¡he¡¡had



to¡¡deal¡¡with¡¡a¡¡people¡¡which£»¡¡sunk¡¡into¡¡the¡¡utmost¡¡apathy¡¡by¡¡reason



of¡¡a¡¡long¡¡despotic¡¡rule£»¡¡resisted¡¡every¡¡innovation¡¡even¡¡though¡¡it



was¡¡an¡¡improvement¡£



¡¡¡¡¡¡¡¡The¡¡reproach£»¡¡however£»¡¡that¡¡France¡¡had¡¡lost¡¡a¡¡large¡¡portion¡¡of



her¡¡native¡¡industry¡¡through¡¡Colbert's¡¡protective¡¡system£»¡¡could¡¡be



levelled¡¡against¡¡Colbert¡¡only¡¡by¡¡that¡¡school¡¡which¡¡utterly¡¡ignored



the¡¡revocation¡¡of¡¡the¡¡Edict¡¡of¡¡Nantes¡¡with¡¡its¡¡disastrous



consequences¡£¡¡In¡¡consequence¡¡of¡¡these¡¡deplorable¡¡measures£»¡¡in¡¡the



course¡¡of¡¡three¡¡years¡¡after¡¡Colbert's¡¡death¡¡half¡¡a¡¡million¡¡of¡¡the



most¡¡industrious£»¡¡skilful£»¡¡and¡¡thriving¡¡inhabitants¡¡of¡¡France¡¡were



banished£»¡¡who£»¡¡consequently£»¡¡to¡¡the¡¡double¡¡injury¡¡of¡¡France¡¡which



they¡¡had¡¡enriched£»¡¡transplanted¡¡their¡¡industry¡¡and¡¡their¡¡capital¡¡to



Switzerland£»¡¡to¡¡every¡¡Protestant¡¡country¡¡in¡¡Germany£»¡¡especially¡¡to



Prussia£»¡¡as¡¡also¡¡to¡¡Holland¡¡and¡¡England¡£¡¡Thus¡¡the¡¡intrigues¡¡of¡¡a



bigoted¡¡courtesan¡¡ruined¡¡in¡¡three¡¡years¡¡the¡¡able¡¡and¡¡gifted¡¡work¡¡of



a¡¡whole¡¡generation£»¡¡and¡¡cast¡¡France¡¡back¡¡again¡¡into¡¡its¡¡previous



state¡¡of¡¡apathy£»¡¡while¡¡England£»¡¡under¡¡the¡¡aegis¡¡of¡¡her



Constitution£»¡¡and¡¡invigorated¡¡by¡¡a¡¡Revolution¡¡which¡¡called¡¡forth



all¡¡the¡¡energies¡¡of¡¡the¡¡nation£»¡¡was¡¡prosecuting¡¡with¡¡increasing



ardour¡¡and¡¡without¡¡intermission¡¡the¡¡work¡¡commenced¡¡by¡¡Elizabeth¡¡and



her¡¡predecessors¡£



¡¡¡¡¡¡¡¡The¡¡melancholy¡¡condition¡¡to¡¡which¡¡the¡¡industry¡¡and¡¡the¡¡finances



of¡¡France¡¡had¡¡been¡¡reduced¡¡by¡¡a¡¡long¡¡course¡¡of¡¡misgovernment£»¡¡and



the¡¡spectacle¡¡of¡¡the¡¡great¡¡prosperity¡¡of¡¡England£»¡¡aroused¡¡the



emulation¡¡of¡¡French¡¡statesmen¡¡shortly¡¡before¡¡the¡¡French¡¡Revolution¡£



Infatuated¡¡with¡¡the¡¡hollow¡¡theory¡¡of¡¡the¡¡economists£»¡¡they¡¡looked



for¡¡a¡¡remedy£»¡¡in¡¡opposition¡¡to¡¡Colbert's¡¡policy£»¡¡in¡¡the



establishment¡¡of¡¡free¡¡trade¡£¡¡It¡¡was¡¡thought¡¡that¡¡the¡¡prosperity¡¡of



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provided¡¡for¡¡French¡¡wines¡¡and¡¡brandies¡¡in¡¡England£»¡¡at¡¡the¡¡cost¡¡of



permitting¡¡the¡¡importation¡¡of¡¡English¡¡manufactures¡¡upon¡¡easy¡¡terms



£¨a¡¡twelve¡¡per¡¡cent¡¡duty£©¡£¡¡England£»¡¡delighted¡¡at¡¡the¡¡proposal£»



willingly¡¡granted¡¡to¡¡the¡¡French¡¡a¡¡second¡¡edition¡¡of¡¡the¡¡Methuen



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produced¡¡by¡¡the¡¡Portuguese¡¡original¡£



¡¡¡¡¡¡¡¡The¡¡English£»¡¡accustomed¡¡to¡¡the¡¡strong¡¡wines¡¡of¡¡the¡¡Peninsula£»



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expected£»¡¡whilst¡¡the¡¡French¡¡perceived¡¡with¡¡horror¡¡that¡¡all¡¡they¡¡had



to¡¡offer¡¡the¡¡English¡¡were¡¡simply¡¡fashions¡¡and¡¡fancy¡¡articles£»¡¡the



total¡¡value¡¡of¡¡which¡¡was¡¡insignificant¡¡£º¡¡whereas¡¡the¡¡English



manufacturers£»¡¡in¡¡all¡¡articles¡¡of¡¡prime¡¡necessity£»¡¡the¡¡total¡¡amount



of¡¡which¡¡was¡¡enormous£»¡¡could¡¡greatly¡¡surpass¡¡the¡¡French



manufacturers¡¡in¡¡cheapness¡¡of¡¡prices£»¡¡as¡¡well¡¡as¡¡in¡¡quality¡¡of



their¡¡goods£»¡¡and¡¡in¡¡granting¡¡of¡¡credit¡£¡¡When£»¡¡after¡¡a¡¡brief



competition£»¡¡the¡¡French¡¡manufacturers¡¡were¡¡brought¡¡to¡¡the¡¡brink¡¡of



ruin£»¡¡while¡¡French¡¡wine¡­growers¡¡had¡¡gained¡¡but¡¡little£»¡¡then¡¡the



French¡¡Government¡¡sought¡¡to¡¡arrest¡¡the¡¡progress¡¡of¡¡this¡¡ruin¡¡by



terminating¡¡the¡¡treaty£»¡¡but¡¡only¡¡acquired¡¡the¡¡conviction¡¡that¡¡it¡¡is



much¡¡easier¡¡to¡¡ruin¡¡flourishing¡¡manufactories¡¡in¡¡a¡¡few¡¡years¡¡than



to¡¡revive¡¡ruined¡¡manufactories¡¡in¡¡a¡¡whole¡¡generation¡£¡¡English



competition¡¡had¡¡engendered¡¡a¡¡taste¡¡for¡¡English¡¡goods¡¡in¡¡France£»¡¡the



consequence¡¡of¡¡which¡¡was¡¡an¡¡extensive¡¡and¡¡long¡­continued¡¡contraband



trade¡¡which¡¡it¡¡was¡¡difficult¡¡to¡¡suppress¡£¡¡Meanwhile¡¡it¡¡was¡¡not¡¡so



difficult¡¡for¡¡the¡¡English£»¡¡after¡¡the¡¡termination¡¡of¡¡the¡¡treaty£»¡¡to



accustom¡¡their¡¡palates¡¡again¡¡to¡¡the¡¡wines¡¡of¡¡the¡¡Peninsula¡£



¡¡¡¡¡¡¡¡Notwithstanding¡¡that¡¡the¡¡commotions¡¡of¡¡the¡¡Revolution¡¡and¡¡the



incessant¡¡wars¡¡of¡¡Napoleon¡¡could¡¡not¡¡have¡¡been¡¡favourable¡¡to¡¡the



prosperity¡¡of¡¡French¡¡industry¡¡notwithstanding¡¡that¡¡the¡¡French¡¡lost



during¡¡this¡¡period¡¡most¡¡of¡¡their¡¡maritime¡¡trade¡¡and¡¡all¡¡their



colonies£»¡¡yet¡¡French¡¡manufactories£»¡¡solely¡¡from¡¡their¡¡exclusive



possession¡¡of¡¡their¡¡home¡¡markets£»¡¡and¡¡from¡¡the¡¡abrogation¡¡of¡¡feudal



restrictions£»¡¡attained¡¡during¡¡the¡¡Empire¡¡to¡¡a¡¡higher¡¡degree¡¡of



prosperity¡¡than¡¡they¡¡had¡¡ever¡¡enjoyed¡¡under¡¡the¡¡preceding¡¡ancien



régime¡£¡¡The¡¡same¡¡effects¡¡were¡¡noticeable¡¡in¡¡Germany¡¡and¡¡in¡¡all



countries¡¡over¡¡which¡¡the¡¡Continental¡¡blockade¡¡extended¡£



¡¡¡¡¡¡¡¡Napoleon¡¡said¡¡in¡¡his¡¡trenchant¡¡style£»¡¡that¡¡under¡¡the¡¡existing



circumstances¡¡of¡¡the¡¡world¡¡any¡¡State¡¡which¡¡adopted¡¡the¡¡principle¡¡of



free¡¡trade¡¡must¡¡come¡¡to¡¡the¡¡ground¡£¡¡In¡¡these¡¡words¡¡he¡¡uttered¡¡more



political¡¡wisdom¡¡in¡¡reference¡¡to¡¡the¡¡commercial¡¡policy¡¡of¡¡France



than¡¡all¡¡contemporary¡¡political¡¡economists¡¡in¡¡all¡¡their¡¡writings¡£



We¡¡cannot¡¡but¡¡wonder¡¡at¡¡the¡¡sagacity¡¡with¡¡which¡¡this¡¡great¡¡genius£»



without¡¡any¡¡previous¡¡study¡¡of¡¡the¡¡systems¡¡of¡¡political¡¡economy£»



comprehended¡¡the¡¡nature¡¡and¡¡importance¡¡of¡¡manufacturing¡¡power¡£¡¡Well



was¡¡it¡¡for¡¡him¡¡and¡¡for¡¡France¡¡that¡¡he¡¡had¡¡not¡¡studied¡¡these



systems¡£¡¡'Formerly£»'¡¡said¡¡Napoleon£»¡¡'there¡¡was¡¡but¡¡one¡¡description



of¡¡property£»¡¡the¡¡possession¡¡of¡¡land£»¡¡but¡¡a¡¡new¡¡property¡¡has¡¡now



risen¡¡up£»¡¡namely£»¡¡industry¡£'¡¡Napoleon¡¡saw£»¡¡and¡¡in¡¡this¡¡way¡¡clearly



enunciated£»¡¡what¡¡contemporary¡¡economists¡¡did¡¡not¡¡see£»¡¡or¡¡did¡¡not



clearly¡¡enunciate£»¡¡namely£»¡¡that¡¡a¡¡nation¡¡which¡¡combines¡¡in¡¡itself



the¡¡power¡¡of¡¡manufactures¡¡with¡¡that¡¡of¡¡agriculture¡¡is¡¡an



immeasurably¡¡more¡¡perfect¡¡and¡¡more¡¡wealthy¡¡nation¡¡than¡¡a¡¡purely



agricultural¡¡one¡£¡¡What¡¡Napoleon¡¡did¡¡to¡¡found¡¡and¡¡promote¡¡the



industrial¡¡education¡¡of¡¡France£»¡¡to¡¡improve¡¡the¡¡country's¡¡credit£»¡¡to



introduce¡¡and¡¡set¡¡going¡¡new¡¡inventions¡¡and¡¡improved¡¡processes£»¡¡and



to¡¡perfect¡¡the¡¡means¡¡of¡¡internal¡¡communication¡¡in¡¡France£»¡¡it¡¡is¡¡not



necessary¡¡to¡¡dwell¡¡upon¡¡in¡¡detail£»¡¡for¡¡these¡¡things¡¡are¡¡still¡¡too



well¡¡remembered¡£¡¡But¡¡what£»¡¡perhaps£»¡¡does¡¡call¡¡for¡¡special¡¡notice¡¡in



this¡¡connection£»¡¡is¡¡the¡¡biassed¡¡and¡¡unfair¡¡judgment¡¡passed¡¡upon



this¡¡enlightened¡¡and¡¡powerful¡¡ruler¡¡by¡¡contemporary¡¡theorists¡£



¡¡¡¡¡¡¡¡With¡¡the¡¡fall¡¡of¡¡Napoleon£»¡¡English¡¡competition£»¡¡which¡¡had¡¡been



till¡¡then¡¡restricted¡¡to¡¡a¡¡contraband¡¡trade£»¡¡recovered¡¡its¡¡footing



on¡¡the¡¡continents¡¡of¡¡Europe¡¡and¡¡America¡£¡¡Now¡¡for¡¡the¡¡first¡¡time¡¡the



English¡¡were¡¡heard¡¡to¡¡condemn¡¡protection¡¡and¡¡to¡¡eulogise¡¡Adam



Smith's¡¡doctrine¡¡of¡¡free¡¡trade£»¡¡a¡¡doctrine¡¡which¡¡heretofore¡¡those



practical¡¡islanders¡¡considered¡¡as¡¡suited¡¡only¡¡to¡¡an¡¡ideal¡¡state¡¡of



Utopian¡¡perfection¡£¡¡But¡¡an¡¡impartial£»¡¡critical¡¡observer¡¡might



easily¡¡discern¡¡the¡¡entire¡¡aBsence¡¡of¡¡mere¡¡sentimental¡¡motives¡¡of



philanthropy¡¡in¡¡this¡¡conversion£»¡¡for¡¡only¡¡when¡¡increased¡¡facilities



for¡¡the¡¡exportation¡¡of¡¡English¡¡goods¡¡to¡¡the¡¡continents¡¡of¡¡Europe



and¡¡America¡¡were¡¡in¡¡question¡¡were¡¡cosmopolitan¡¡arguments¡¡resorted



to£»¡¡but¡¡so¡¡soon¡¡as¡¡the¡¡question¡¡turned¡¡upon¡¡the¡¡free¡¡importation¡¡of



corn£»¡¡or¡¡whether¡¡foreign¡¡goods¡¡might¡¡be¡¡allowed¡¡to¡¡compete¡¡at¡¡all



with¡¡British¡¡manufactures¡¡in¡¡the¡¡English¡¡market£»¡¡in¡¡that¡¡case¡¡quite



different¡¡principles¡¡were¡¡appealed¡¡to¡££¨3*£©¡¡Unhappily£»¡¡it¡¡was¡¡said£»



the¡¡long¡¡continuance¡¡in¡¡England¡¡of¡¡a¡¡policy¡¡contrary¡¡to¡¡natural



principles¡¡had¡¡created¡¡an¡¡artificial¡¡state¡¡of¡¡things£»¡¡which¡¡could



not¡¡Be¡¡interfered¡¡with¡¡suddenly¡¡without¡¡incurring¡¡the¡¡risk¡¡of



dangerous¡¡and¡¡mischievous¡¡consequences¡£¡¡It¡¡was¡¡not¡¡to¡¡be¡¡attempted



without¡¡the¡¡greatest¡¡caution¡¡and¡¡prudence¡£¡¡It¡¡was¡¡England's



misfortune£»¡¡not¡¡her¡¡fault¡£¡¡All¡¡the¡¡more¡¡gratifying¡¡ought¡¡it¡¡to¡¡be



for¡¡the¡¡nations¡¡of¡¡the¡¡European¡¡and¡¡American¡¡continents£»¡¡that¡¡their



happy¡¡lot¡¡and¡¡condition¡¡left¡¡them¡¡quite¡¡free¡¡to¡¡partake¡¡without



delay¡¡of¡¡the¡¡blessings¡¡of¡¡free¡¡trade¡£



¡¡¡¡¡¡¡¡In¡¡France£»¡¡although¡¡her¡¡ancient¡¡dynasty¡¡reascended¡¡the¡¡throne



under¡¡the¡¡protection¡¡of¡¡the¡¡banner¡¡of¡¡England£»¡¡or¡¡at¡¡any¡¡rate¡¡by



the¡¡influence¡¡of¡¡English¡¡gold£»¡¡the¡¡above¡¡arguments¡¡did¡¡not¡¡obtain



currency¡¡for¡¡very¡¡long¡£¡¡England's¡¡free¡¡trade¡¡wrought¡¡such¡¡havoc



amongst¡¡the¡¡manufacturing¡¡industries¡¡which¡¡had¡¡prospered¡¡and¡¡grown



strong¡¡under¡¡the¡¡Continental¡¡blockade¡¡system£»¡¡that¡¡a¡¡prohibitive



régime¡¡was¡¡speedily¡¡resorted¡¡to£»¡¡under¡¡the¡¡protecting¡¡aegis¡¡of



which£»¡¡according¡¡to¡¡Dupin's¡¡testimony£»£¨4*£©¡¡the¡¡producing¡¡power¡¡of



French¡¡manufactories¡¡was¡¡doubled¡¡between¡¡the¡¡years¡¡1815¡¡and¡¡1827¡£







NOTES£º







1¡£¡¡'Eloge¡¡de¡¡Jean¡¡Baptiste¡¡Colbert£»¡¡par¡¡Necker'¡¡£¨1773£©¡¡£¨OEuvres



Completes£»¡¡vol¡£¡¡xv¡££©¡£







2¡£¡¡See¡¡Quesnay's¡¡paper¡¡entitled£»¡¡'Physiocratie£»¡¡ou¡¡du¡¡Gouvernement



le¡¡plus¡¡avantageux¡¡au¡¡Genre¡¡Humain¡¡£¨1768£©£»'¡¡Note¡¡5£»¡¡'sur¡¡la¡¡maxime



viii£»'¡¡wherein¡¡Quesnay¡¡contradicts¡¡and¡¡condemns¡¡Colbert¡¡in¡¡two



brief¡¡pages£»¡¡whereas¡¡Necker¡¡devoted¡¡a¡¡hundred¡¡pages¡¡to¡¡the



exposition¡¡of¡¡Colbert's¡¡system¡¡and¡¡of¡¡what¡¡he¡¡accomplished¡£¡¡It¡¡is



hard¡¡to¡¡say¡¡whether¡¡we¡¡are¡¡to¡¡wonder¡¡most¡¡at¡¡the¡¡ignorance¡¡of



Quesnay¡¡on¡¡matters¡¡of¡¡industry£»¡¡history£»¡¡and¡¡finance£»¡¡or¡¡at¡¡the



presumption¡¡with¡¡which¡¡he¡¡passes¡¡judgment¡¡upon¡¡such¡¡a¡¡man¡¡as



Colbert¡¡without¡¡adducing¡¡grounds¡¡for¡¡it¡£¡¡Add¡¡to¡¡that£»¡¡that¡¡this



ignorant¡¡dreamer¡¡was¡¡not¡¡even¡¡candid¡¡enoug

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