Henry Dunning Macleod.

A dictionary of political economy: biographical, bibliographical ..., Volume 1 online

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the leading points in Political Economy as Bastiat
did, and that this Dictionary is written for the
express purpose of constructing the Science of
Political Economy on those very conceptions.
And we hope that this may bring about an entente
cordiale between the economists of England and

It is to France that we must probably look in
future for the best economists. It is natural to
find the best physicians where diseases are most
rife, the best organized fire brigades where fiies

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are most frequent. In England, the principles of
free trade are triumphant, and almost onqnes-
tioned. Consequently there is no longer a neces •
sity to defend what is assumed as a matter of
course. But in France the case is different. That
pleasant land is still deeply iuTolved in econo-
mical dai'kness, and consequently it is there that
we must thenceforth expect the most brilliant
efforts to enlighten it. Notwithstanding the illus-
trious men who, whatever their differences may be
as to the best method of treating the subject, are
all firmly united in the practical part of it,
namely, the principle of free exchanges, the pro-
gress of these opinions is apparently but slow and
disheartening, and yet from their scientific beauty
they seem peculiarly adapted to find acceptance
in the French mind. But there is reason to hope
well. The sale of Bastiafs works has been
immense, considering their nature. M. Faillottet
has supplied us with some details which we think
will interest our readers. He tells us that of
Bastiat*s smaller works, published in 12mo, and
containing the Sophismes and the pamphlets,
there have been sold 20,000 copies. Of Cobden
et la ligue^ in the first edition 1000 copies ; of the
Harmonies^ first edition, 1000 copies, of the second
edition, 2000 copies. At the end of last De-
cember, 1858, of his complete works, in 6 vols.
12mo, 16,600 volumes had been sold ; and a fourth
edition of the Harmonies is now being printed.
This must indicate progress, too slow perhaps to
gratify the wishes of the best friends of France,
but it must be sure, and we fervently hope that
it may not be long before the fruits of so much
glorious labor may begin to manifest themselves.


Mhnoire sur Us contributions indirectes rSIatioes
aux boissoTis. Faris, 1830.

BASTIEN. Citoyen.

Petition a Vassemblee nationale respecting as-
signats. Faris, 1792.


Observations on trade and a public spirit. Lon-
don, 1832.

BATE, HENBT. The Rev., afterwards Sir
Henry Bate Dudley, Bart.

A few observations respecting the present state of
the pooTy and the defects of the poor laws, with re-
marks upon parochial assessments. London, 1802.

BATH, The Earl of, (Pulteney.)

A state of the national debt as it stood on the 24/A
December, 1716, with the payments made towards
its discharge out of the sinking fund, ^c, compared
with the debt at Michaelmas, 1725.

An enquiry into the conduct of our domestic affairs
from 1721 to Christmas 1733, in which the case of
our national debts, the sinking fund, jrc, are parti-
cularly considered, London, 1734.

Case of the sinking fund, and the right of the
public creditors to it considered. London, 1735.

Considerations on the present state of public
affairs, and the means of raising the necessary
supplies. London, 1739.

BAUDEAU, NICHOLAS, L'Ab1>e.-0iie of
the most able and ardent of the disciples of Ques-

nay, or the Fhysiocrate school of Folitical Eco-
nomy, was bom at Amboise, 27th April, 1730.
Being destined for the church, he began to study
for it, and he became a regular canon, and Pro-
fessor of Theology in the Abbey of Chancelade.
He was some time after invited to the capital by
M. De Beaumont, the Archbishop, a zealous anti-
Jansenist. His taste inclined more to science
than theology, and he abandoned his clerical posi-
tion. In 1765 he founded a journal named Ephe^
merides cbi Citoyen, or Chronique de Vesprit
national, in which he warmly opposed the doc-
trines of Quesnay. Dupont de Nemours was
Editor of the Journal de VagricuUure, du com^
merce,,et des finances, also founded in 1765,
which was a conmion fighting ground for the
partisans and the opponents of the mercantile
system. Le Trosne, who was king*s advocate in
the bailiwick of Orleans, attacked some of the
doctilnes maintained by Baudean in his paper.
The latter prepared a series of letters in defence
of them, the first of which was inserted in Dupont*s
paper. The editor inserted it with some com-
ments of his own, which had the efiect of con-
verting Bandeau, who was a sincere inquirer
after truth, and he henceforth became an ardent
disciple of Quesnay. In 1767, the partisans of
the mercantile system had strength enough to
drive Dupont de Nemours from the editorship of
his paper, and he took refage with Baudeau.
They were joined by the Marquis of Mirabeau,
and the paper was then called Bibliotheque
raisonnee des sciences morales et politiques, and
became the earnest advocate of free trade
doctrines, and the uncompromising antagonist of
the spirit of monopoly, in all its shapes and forms.
In May, 1768, Baudeau resigned the editorship
to Dupont de Nemours, but, nevertheless, con-
tinued one of its most active contributors. Soon
afterwards the Bishop of Wilna gave him an
ecclesiastical appointment in Foland, which did
not seem to have many attractions for him, as he
soon returned to Faris.

In 1772 the publication of the JSphemSrides
was stopped by a royal command. When Turgot
was appointed minister, Baudeau revived his
paper under the name of Nouoelles JEvJtSmerides
economiques, ou Bibliothimie raisonnSe ae Thistoire,
de la morale, et de la politique. The publication
lasted from January, 1776, to June, 1776, when
that great minister being compelled to resign, the
paper stopped.

• In 1771 Bandeau published his Premiere intra*
duction a la philosophic iconomique, ou Analyse
des itatspolicis, which is one of the best and most
lucid expositions of the Fhysiocrate doctrines.
During the administration of Turgot, he pub-
lished a reply to Necker's work on the corn laws.
Necker was a strong protectionist, and the party
opposed to the government and free trade con-
sidered it a masterpiece. Baudeau, however,
completely answered him. He had also written
a memoir against the butchers* bank in 1768,
which, however, had not obtained permission to
be published. In 1776 this was published in the
Epbem^rides for February, and in the same
month the bank, cidled Caisse de Poissy, was
suppressed by Turgot. (TuaooT.) The farmers
of tne bank prosecuted him for libel, but Baudeau
defended himself with such success as to torn

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public opinion in his favoor, and the fanners
were obliged to abandon their case.

Bnt, though he gained his cause, it was a
disastrous victory. Turgot fell, and the anger of
his defeated opponents obtained an order com-
manding him to maintain silence on all subjects
of public administration. As he seemed inclined
to resist this edict, a lettre de cachet was issued,
exiling him to Riom. After this, Bandeau seems
only to have published one short tract against
Kecker*s system of finance and his passion for loans.

Bandeau*s mind is said to have given way
during the latter years of his life, and he is sup-
posed to have died in 1792. He was a man of
very varied acquirements. He was a member of
the Academy of Bordeaux. In this place we
shall only enumerate his economical works. We
have considered the doctrines of the school of
Political Economy, of which he was one of the
most distinguished members, in the Frelimin art
Djscoubsb, and under Phtsiocratbs.

Bandeau was the founder of, and a very active
contributor to the EphSmSrides du Citoyen^ or
Chrcmque de Vtsprit national 1765-67, which
supported Protectionist opinions.

In 1767 Bandeau was converted to free trade
opinions, and his journal was henceforth called
EphSnUrides du Citoyeny on Bibliothique rcdsonnSe
aes sciences morales et poliliques^ Paris 1767-1772.

In the first and ninth numbers of this work
for 1768, he advocates the entire and complete
freedom of trade in com.

The chief articles in this journal which may
be cited are one in Pai-t I. for 1767, to prove that
the produit net of land is the only national
revenue, and that upon it all the taxes and debts
of the state fall.

Part II. — Recherches politiques sur les terreurs
populaires qui cause le ban prix des grains^ et sur
Us moyens de les calmer. De Vorigine et de la
ntcessiU des heredites foncieres. — Part III. Du
faste public et privl - Vrais principes du droit
naturei. Part Yl. Reflexions sur la re/arme dans
la ripartitian des tailles. Part VIU — Du sens du
mot STBRILB applique a Vindustrie. Part IX. —
Dissertation sur la non-productiviie deV Industrie,
Part XI. — Explication du Tableau iconomique
dM.de****** Reflexion swrVwdre
iiaturel et essentid des socUtSs politiques^ et critique
des ** EUmenls du Commerce " de Forbonnais.

1 768. Part 1 . — ^vis au peuple sur son premier
besain^ ou petits traites icotwmiques sur U ble, la
Jarine^etlepain: IrepartieyDeVerUiereetparfaite
Uoerte du commerce des blis. Part II. — Avis au
peuple, ^c. : 2departie^ Traite sur lamonture des
grains, et sur le commerce desfarines. Parts IV
and V. — Avis au peuple^ Hzc. : 'Smepartie, Traiti
sur la fabrication et le commerce du pain, et sur
le vrai moyen de pourvoir aux approvisionments
publics. Part IX. — Rhultats de la liberty par-
faite^ et de Vimmuniti absolu du commerce des
grains f de lajarine, et du pain; et consequences
pratiqttes de ces rSsultats. Parts X and XI. —
Avis aux honnites gens, qui veuUnt bien/aire, dans
Uquel on leur indique tes moyens de procurer au
pauvre peuple du pain meUleur et a meilleur

1769. Part X. — Suites des Avis au peuple sur
la cherts du pain et le monapole des blh.
Part XII. — Lettres a M. Vabbi &alianit sur ses
Dialogues ant i- economist es.

770. Part YlI.^Lettr€ a M. Biarde de
VAbbaye, sur sa critique prStendue de la science

In the Nouvdles Ephemhides his principal
economical writings are —

1775. Part U. — Refutation cTune lettre apolo-
gStique sur les corvees. Part III. — Memoire
detains sur les taxes patfSes ci-devant par le
poisson de mer, frais ou saU, qui se consommait
dans la viUe de Paris. Part lY.— Lettre a M.
NeckcTy sur sen Hoge de Colbert. Part V. — Le
profit despeuples et le profit du roi, edaircissement
demandes a M. Necker sur ses principes icono-
miqueSf et sur ses prqjets de Ugislation, au nom
des propriitaires fonciers, et des cultivateurs


1776. Part II — Memoire sur la Caisse de
Poissy. Parts IV and V. — Observations icono-
mistes a M. VAbbS de Condillac, sur son livre
" Du Commerce etdu Oouvemement" Part VI. —
Mhnoire sur les affaires extraordinaires, /aites en
France pendant la demiere guerre, depuis 1756
jusqu^en 1763.

His writings not inserted in the EphSmSrides
are: —

IdSes dun citoyen sur T administration des finances
da Roi. Paris, 1763.

Idees d^un citoyen sur le commerce d'Orient, et
sur la Campagme des Indes, Amsterdam and
Paris, 1765.

IdSes d^un citoyen sur les besotns, les droits, et
les devoirs des vrais pauvres. Amsterdam, 1765.

Lettres sur les emeutes populaires^ qui causent
la cherts des grains, et sur les prScautions du
moment. Paris, 1768.

Lettres d^un citoyen sur les vingUhnes, et autres
impdts. Amsterdam, 1768.

Premise introduction d la phUosophie Scono^
miquCf ou Analyse des Stats pohcSs. Amsterdam,

Questions proposees cL M. Richard de OlasnUre,
sur son plan aimposition soi-disani Sconomique.
Paris, 1774.

Sur Vital prSsent de V agriculture en Angleterre
traduit de V Anglais, avec des remarques sur
VStat de V agriculture en France. Paris, 1778.

Principes Sconomiques de Louis XIL, et du
Cardinal d^ Amboise, de Henri IV., et du due de
Sidly, sur V administration des finances opposSs
aux systemes des docteurs modemes.

Baudeau announced a new edition of the Econo-
mies Royales of Sully, but only two volumes

BAUDOirXH'f A. - Formerly Secretary to the
1st Chamber of Commerce in Algeria.

AnnucUre des Institutions de credit financier^
commercial^ et industriel de la France^ et desprin-
cipales places deV Europe. Paiis, 1853.

fessor of Political Economy at the ColUge de
France, was born 28th November, 1821, the son
of a lawyer. He was educated at the College
Bourbon, and gained the prize in philosophy in
1841. In 1846 he gained the prize at the Aca-
demic Frangaise, for his 61oge on Turgot ; and,
in 1850, for that on Madame de Stael. In 1852,
on tiie recommendation of M. Michel Chevalier,
he was appointed his assistant professor at the
College de fVance ; and, in 1853, ne was awaided

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a prize at the Institate for his Bodin et son temps,

Jean Bodin et son temps. Paris, 1853.

Manuel de VEconomie Politique, Paris, 1857.

This manaal is a summary of the lectures de-
livered by M. Baudrillart, in his capacity of pro-
fessor, and, therefore, it demands our attention.
We are happy that we may place him in the
third school of Political Economy, namely, the
one that considers exchange to be the fundamental
conception of the science. He says, p. 8, " Nous
definirous d^s k present Tdconomie politique, la
science qui a pour objet la mani^re dont la
richesse se produit, s'echange, se distribue, et se
consomme ; or, comme rien de tout cela n*a lieu
sans travail, et sans echange, et comme d'une
autre cot^, aucun de ces travaux et des ces
echanges ne s'op^re au hasaid, ii s'ensuit que les
lois qui president au travail, et k Techange, fer-
ment le veritable champ de science ^conomique."
Also, p. 18, " Sous les formes diverses qu*il revet,
^change d'id^es, ^change de sentiments, Techange
est le lien unique de la socictc, 11 en est un des
principanx sous sa forme specialement industrielle.
Sans trop faire violence au language, peut-etre
pent on dire que certain animaux travaillent, on
pent aller peut-etre jusqu* k pretendre que la
fourmi capitalise, mais ils n'echangent point.
L'6change est la sociabilit6 en action. ♦ • *
L'echange, pos6 en t^te de I'economie politique
r^ume tout la reste. II n'y pas un seul fait
^conomique qui ne suppose ce fait, et qui ne 8*y
ram^ne.*' He also well draws the distinction be-
tween Political Economy and technology, and also
between it and statistics.

He excludes immaterial products from Political
Economy. As we have fully examined the sub-
ject in the Pbbltminabt Discourse and under
Capital, we shall say no more about it here.

On the meaning of Value he says : " II resulte
de ce qui vien d*dtre ait, que la valeur ne designe
qu*un rapport d'6change, elle ne fait qu' exprimer
£i puissance d'acquisition d*un objet par rapport
aux autres." He adopts Bastiat*8 definition of
Value. (Bastiat.)

He adopts the principle that supply and de-
mand regulates all exchanges, p. 219 ; and he sees
that Ricardo*8 law of cost of production is only a
particular case of the general law.

It foliows from the preceding extracts, that
M. Baudrillart holds the same fundamental con-
ception of the nature of the science as ourselves,
although his work is divided into the heads of
production, distribution, and consumption. We
think it may be better treated by exclusively
adopting the conception of exchange.

On the subject of money, M. Baudrillart has
not advanced beyond J. B. Say, and he has passed
over the true fundamental conception of it, which
Bastiat so clearly saw. (Bastiat.)

But we regret to say that on the subject of
credit M. Baudrillart has gone altogether astray,
and has adopted the ideas of M. Cieszkowski, the
modem Law. Most truly he says that the import-
ance of economical laws is apparent when we re-
flect on the evil of adopting false ones. A false
view of credit will ruin thousands of families, and
perhaps compromise the future of a nation. He
then cites the fatal results of the theories of Law,
and the Convention. But, marvellous to say, he
has adopted the very ideas he so strongly con-

demns. The doctrines of Cieszkowski are the
identical doctrines of Law.

M. Baudrillart treats instruments of credit as
signs of wealth, and classes them together with
Dock warrants. This is as we have shewn (Bill
OF Lading ; Dock Warrsant ; Bill of Ex-
change; Credit; Law) the very fundamental
error upon which Law founded his theory of money.
And the clear understanding of the fundamental
distinction between them, is at the very root of
Political Economy.

M. Baudrillart does not give any opinion on the
disputed question whether bills of exchange are
currency of not, but he refers to M. Chevalier's
La Monnaie, which he says exhausts the subject.
We may therefore infer that M. Baudrillart adopts
the opinions of his eminent colleague. Now M.
Chevalier entirely adopts the opinion that bills of
exchange are currency, together with money. I^
then, bills of exchange and money are both cur-
rency, they must both be of the same fundamental
nature. Consequently, if bills of exchange are
signs of wealth, money must also be a sign of
wealth. The very error which is at the root of
Lawism, and which the early economists had so
much labor in combating! Oh I no; money is
not a sign of wealth, nor are bills of exchange, or
instruments of credit. Bills of lading and dock
warrants are not credit. Money and instru-
ments of credit are independent entities ; bills of
lading and dock warrants are not independent
entities. We earnestly entreat M. Baudrillart to
fly from the doctrines of Cieszkowski as from the


Propriete litteraire*

Paris, 1850.


Hie poor laws stated and examined^ the evils of
the present system exposed^ and a plan suggested
for pUicing such laws on a firm and equitable
basis, London, 1831.


Memoires sur les grandes ressourceA en finances
de la r^bUquefrangaise. Paris, 1797.


2%e art of valuing rents and tillages. London
1823. Fifth edition, enlarged by J. Donaldson,
London, 1840. Enlarged and adapted to the
present time by R. Baker, London, 1856.

A treatise on the valuation of property for the
poor's rates, London, 1828.


The arithmetic ofcmnuUies^ and life assurance,
or compound interest simplified^ ^c, London,

BAZAED AMANB. Bom on the 19th Sep-
tember, 1791, was one of the founders of carbo-
narism in France. In 1815, he distinguished
himself in the defence of Paris. He then ob-
tained a lucrative appointment in the prefecture
of the Seine, Soon afterwards he plunged into
politics and secret societies, one or which was
called Amis de la virite. Bazard was considered
as the chief of these societies, which became

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dangerous to the throne of the Boorbons. These
societies being found oat, Bazard hastened to give
information to the aathorities, which, of coarse,
broaght on him the bitterest reproaches from his
associates. He then withdrew from these con-
spiracies, and devoted himself to philosophical
porsaits, and adopted the opinions of St. Simon.
In 1825 he became one of the editors of their
p^aper, Le Producteur. This paper was discon-
tinaed in 1826, from want of support, and Hazard
and the St. Simonians, determined to elaborate
and complete their scheme in private discussion,
before giving it to the world. In these dis-
cussions, Bazard's talents were so conspicuous,
that he became the acknowledged head of the
sect. In 1828, the St. Simonians again came be-
fore the world by commencing a series of public
conferences, and they started a new paper,
L'OrganisaUur. The revolution of July, 1830,
was a grand opportunity for these social re-
formers to ventilate their theories, and Bazard
became very popular. The sect became so nu-
merous now, that they purchased le OlobCy a daily
paper, which had mamtained a struggling ex-
istence for some years, which henceforth, during
the short remainder of its career, became the
or^n of their opinions.

Bazard had a rival, Enfantin, in the sect, and
although they continued to act for some time to-
gether, differences at length broke out, and in
1831, a formal schism took place. Enfantin
seems to have been much the more powerful
minded man of the two, and Bazard found him-
self alone. He then commenced a vehement
attack on Enfantin, charging him with all sorts
of fraud. But he was no match for his adversary,
and in a debate in which he was hard pressed by
Enfantin, who charged him with inconsistency,
he was struck with apoplexy. He retired to
Courtry, near Montfei-meU, and died there on the
29th July, 1832. The sect wa^ soon afterwards
broken up the Government. For an account of
the doctrines of the sect, see Sociausm.

ABOTT DB, w*8 horn 17th July, 1710, at
Boulogne-sur-mer, of a family of English origin.
He was educated at Paris, and adopted the pro-
fession of the law. In 1741, he was appointed
judge in the Cour des Mannaies^ which office he
held for 30 years. He then retired to his native
town, and took a very active part in promoting
local improvements of all sorts, especially in
founding an agricultural society. He died at
Paris, in 1791. Besides many other writings, he
published :

lYaiti des tnonnaieSy et de lajuridicHan de la
Cour des mormaiea, en forme de dictionnaire,
Paris, 1764.

This work, the firuit of 20 years* official ex-
perience, has always been held in the highest
estimation, as one of the most complete on the

Tables des monnaies courantes dans Us quatre
parties du monde, Paris, 1767.

BAZLET. THOMAS. Formerly president
of the Chamber of Commerce, and now M.P. for

A lecture ttpon cotton as an element of industry,
London, 1852.


Free trade in land; an enquiry into the social
and commercial irMuence of the laws of succession^
and the system of entails, as affecting the land, the
farmer, and the labourer ; with observations on the
transfer of land, London, 1855.

A treatise upon tithes. 4th edition. London,

BEABDE DE L'ABBATE. Bom probably
at Aix-la-chapelle, where he was a doctor of law,
civil and canon, about the beginning of the 18th
century. He died at Paris, in 1771.

Essais d^ agriculture, Hamburgh, 1768.

Dissertation qui a remporte le prix d la sociitS
libre economique de St, Petersbourg en Vannee
1768, sur cette question-^Est il aoantageux d un
itat que les paysanspossedent enpropre du terrain,
ou quits n'aient que des biens mmbles, etjusqu^ ot^
doit s'etendre cette prcprietet Amsterdam and
Paris, 1769.

Recherches sur les moyens de supprimer les im-
pots precedees de Vexamen de la nouveUe science.
Amsterdam, 1770.

La felicUe publique consider ie dans les pay sans
cultivateurs de leurs propres terres. From the
Italian of Vignoli. Lausanne, 1770.



A view of the commerce of Greece, formed after
an annual average from 1787 to 1797. Trans-
lated by T. H. Home. London, 1800.


A follower of Quesnay. He was a native of
Brittany, and a very voluminous writer, but
little is known of him.

Dimonstration des vices de Vimp6t territorial
en nature, MSmoire sur la suppression de certains
impots, ddressi a Vassembiee des notables. 1787.

Memoire sur les droits fiodaux prhentS d
VAssemUee Nationale. 1789.

Reflexions sur la nicessiti (TStablir Vensetgne'
ment de la science de V economic politique,

De la necessity de rendre nos colonies independ-
antes, et de suppritner notre acte de navigation.

BEAUMOHT, CHABLHIS. A treatise on the
Coal trade. London, 1789.


DE. Bora at Paris in 1715, was successively
intendant ofPoitou,Franchc Comt^ andFlanders.
He died at Mesnil, 22nd May, 1785.

Mefnoire concemant les impositions et droits en
liurope, Paris, 1787.


An Essay on Provident or Parish Banks.
London, 1816.

22nd August, 1730, and died 3rd December, 1783.

Introduction g^rale d Vitude de la politique^
des finances et du commerce. Amsterdam, 1771.

Introduction d la Statistique.

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Dea obstacles au crSdit.

Paris, 1850.


Lex Mercaioria rediviva; or^ the Merchanfs

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