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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： 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
the country could be restored at one blow if a better market were
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
Treaty； in the shape of the so…called Eden Treaty of 1786； a copy
which was soon followed by results not less ruinous than those
produced by the Portuguese original。
The English； accustomed to the strong wines of the Peninsula；
did not increase their consumption to the extent which had been
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 ： 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
r間ime。 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； in