ABSTRACT
T he system of policy sketched in the preceding chapter reached its full development about the middle of the eighteenth century. In every part of commercial legisla tion its principles were predominant, and had come to be regarded by practical men as unquestionable. Symptoms of dissatisfaction had, indeed, previously manifested them selves. Both in England and France such writers as Dudley North and Boisguillebert had dissented from the efforts to encourage manufactures, and the former had insisted on the value of freedom in industrial matters. But now the opposition became more serious. The French Économistes laid down the doctrine of absolute liberty in the most uncompromising form. “ Maintain complete liberty of commerce,” said their leader Quesnay ; “ for the regulation of internal and external commerce that is most certain, most precise, and most profitable to the nation and to the state, consists in full liberty of competition.” This general rule enunciated in different ways and expanded into volumes, formed the substance of their teaching.
