354 LAND REFORM 



and which would have seemed to them incredible, 

 because it would be a total denial of their doctrines. 



So with Cobden. He could not foresee the later 

 commercial policy of other nations ; he believed that 

 if we adopted free trade "there will not be a tariff in 

 Europe that will not be changed in less than five years 

 to follow your example." (Speech 15 Jan., 1846.) 



Free-trade writers, adopting Cobden's opinion, ad- 

 hered to the faith that other nations, following our 

 example, would become free-traders. In face of 

 all evidence to the contrary, they persevered in this 

 belief up to the point of infatuation. They regretted 

 the fact that France, though receiving the benefits 

 resulting from the repeal of our Navigation Laws, 

 was still adhering to her policy of protection. They 

 could, however, "afford to smile at such a policy," 

 being assured that the time would come when "our 

 neighbours would open their eyes to their own good." 



The French commercial treaty was hailed by these 

 men with triumph, as the beginning of a realization of 

 their views. One well-known economist, referring to 

 the treaty, writes ; " Such a day has at last come. 

 The Emperor, alive to the best interests of France, 

 has emancipated himself from the thraldom of the 

 producers and manufacturers and has entered boldly 

 into a career of reform."^ 



Later on, however, Sir Louis Mallet, who was one 

 of the greatest authorities on fiscal questions, and was 

 also the colleague of Cobden in negotiating the French 

 treaty, seemed to be less satisfied with the condition 

 of the people generally under the one-sided system 

 which was called "Free Trade." In a preface to the 

 "Political Opinions of Richard Cobden," he writes: 



* Leone Levi, "On Taxation," i860. 



