The mercantilist was not content with making rules for established
industries. In justice to him it should be explained that he was
anxious to plant new trades. Privileges, titles of nobility, exemption
from taxation, generous grants of money, and other favors were accorded
to enterprising business men who undertook to introduce new branches of
manufacture.
In general, however, the efforts of such mercantilists as Colbert have
been adversely criticized by economists. The regulations caused much
inconvenience and loss to many manufacturers, and the privileges
granted to new enterprises often favored unstable and unsuitable
industries at the expense of more natural and valuable trades. It is
impossible to estimate the value to France of Colbert's pet industries,
and equally impossible to see what would have happened had industry
been allowed free rein. But we must not entirely condemn the system
simply because its faults are so obvious and its benefits so hard to
ascertain.
[Sidenote: Restrictions on Commerce]
Commerce, like industry, was subject to restrictions and impeded by
antiquated customs.
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