The reproach， however， that France had lost a large portion ofher native industry through Colbert's protective system， could belevelled against Colbert only by that school which utterly ignoredthe revocation of the Edict of Nantes with its disastrousconsequences.In consequence of these deplorable measures， in thecourse of three years after Colbert's death half a million of themost industrious， skilful， and thriving inhabitants of France werebanished； who， consequently， to the double injury of France whichthey had enriched， transplanted their industry and their capital toSwitzerland， to every Protestant country in Germany， especially toPrussia， as also to Holland and England.Thus the intrigues of abigoted courtesan ruined in three years the able and gifted work ofa whole generation， and cast France back again into its previousstate of apathy； while England， under the aegis of herConstitution， and invigorated by a Revolution which called forthall the energies of the nation， was prosecuting with increasingardour and without intermission the work commenced by Elizabeth andher predecessors.
The melancholy condition to which the industry and the financesof France had been reduced by a long course of misgovernment， andthe spectacle of the great prosperity of England， aroused theemulation of French statesmen shortly before the French Revolution.
Infatuated with the hollow theory of the economists， they lookedfor a remedy， in opposition to Colbert's policy， in theestablishment of free trade.It was thought that the prosperity ofthe country could be restored at one blow if a better market wereprovided for French wines and brandies in England， at the cost ofpermitting 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 MethuenTreaty， in the shape of the so-called Eden Treaty of 1786； a copywhich was soon followed by results not less ruinous than thoseproduced by the Portuguese original.
The English， accustomed to the strong wines of the Peninsula，did not increase their consumption to the extent which had beenexpected， whilst the French perceived with horror that all they hadto offer the English were simply fashions and fancy articles， thetotal value of which was insignificant ： whereas the Englishmanufacturers， in all articles of prime necessity， the total amountof which was enormous， could greatly surpass the Frenchmanufacturers in cheapness of prices， as well as in quality oftheir goods， and in granting of credit.When， after a briefcompetition， the French manufacturers were brought to the brink ofruin， while French wine-growers had gained but little， then theFrench Government sought to arrest the progress of this ruin byterminating the treaty， but only acquired the conviction that it ismuch easier to ruin flourishing manufactories in a few years thanto revive ruined manufactories in a whole generation.Englishcompetition had engendered a taste for English goods in France， theconsequence of which was an extensive and long-continued contrabandtrade which it was difficult to suppress.Meanwhile it was not sodifficult for the English， after the termination of the treaty， toaccustom their palates again to the wines of the Peninsula.
Notwithstanding that the commotions of the Revolution and theincessant wars of Napoleon could not have been favourable to theprosperity of French industry notwithstanding that the French lostduring this period most of their maritime trade and all theircolonies， yet French manufactories， solely from their exclusivepossession of their home markets， and from the abrogation of feudalrestrictions， attained during the Empire to a higher degree ofprosperity than they had ever enjoyed under the preceding ancienr間ime.The same effects were noticeable in Germany and in allcountries over which the Continental blockade extended.
Napoleon said in his trenchant style， that under the existingcircumstances of the world any State which adopted the principle offree trade must come to the ground.In these words he uttered morepolitical wisdom in reference to the commercial policy of Francethan all contemporary political economists in all their writings.