The Industrial Revolution

Bibliographic data

Monograph

Identifikator:: 1027928145

URN:: urn:nbn:de:zbw-retromon-159926

Document type:: Monograph

Author:: Cunningham, William http://d-nb.info/gnd/128907487

Title:: The Industrial Revolution

Place of publication:: Cambridge

Publisher:: The University Press

Year of publication:: 1922

Scope:: xxii S., S. 404-886

Digitisation:: 2021

Collection:: Economics Books

Usage license:: Get license information via the feedback formular.

302 PARLIAMENTARY COLBERTISM A.D. 1689 —1776. but the sountry had out- grown them. md Pitt cas well advised in {iscarding them ind re- verting 10 he Tory radition, as to the benefit of ‘rade Even those students who sympathise most strongly with she policy pursued by the Whigs, as expedient at the stage »f national development which England had reached at the Revolution, may yet be willing to admit that the country had outgrown this phase before 1776, and that the rules of the mercantile system were proving unnecessary and noxious. The swing of the pendulum brought Chatham and Pitt, who inherited much of the tradition of Toryism, into power; and under the influence of the younger Pitt, the system the Whigs had built up was discarded, and the economic policy of the country was completely recast on lines which were in accordance with the commercial and fiscal policy that had been advocated by the Tories. It had been the fundamental principle of Parliamentary Colbertism that commerce should be regulated so as to react favourably upon native industry. But there is another view of the benefit conferred on a nation by commerce; we may desire to extend trade because of the increased supply of the comforts of life which it brings from abroad to the con- sumer. This had been a recognised object of policy since ‘he time of Edward IIL and it had been consciously adopted hy the Tory party in their advocacy of facilities for trade vith France, especially in 1718% They had been out-voted shen, but under changed circumstances their policy was carried into effect in 1786% The Physiocrats had over- shrown the power of Colbertism in France, so that our old rival was more ready to offer favourable terms; while the revival of Portuguese industries under the Marquis of Pombal had rendered the alleged benefits of the Methuen sreaty worthless. Under this conjunction of circumstances i See Vol. 1. p. 470. 3 See above, p. 461. 3 Dowell, nm. 191. This treaty favoured French agriculture—particularly the production of wines, brandy and oil—and also the manufacture of glass, jewelry, French muslins and millinery. Competition forced the French cotton, hardware, saddlery and crockery manufacturers to improve their goods, but until they reached the English standard of excellence there was a temporary loss to France. The importation into England of silks, and of cotton and woollen materials mixed with silk, being still prohibited, the French manufacturers neither gained aor lost. It was urged in England that the treaty was in favour of France, since it ensured a sale for her natural products, and rendered industrial equality bossible. Koch and Schoell, 1. 461.

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