It still exists in a subdued and declining way in France, despite the powerful and brilliant attacks of Say, Bastiat, and Chevalier, but its end cannot be far distant in that country.

The Cobden-Chevalier treaty with England has been attended by consequences so totally at variance with the theories and prophecies of the protectionists that it must soon succumb.
[Footnote 4: It is so often affirmed by protectionists that the superiority of Great Britain in manufactures was attained by means of protection, that it is worth while to dispel that illusion.

The facts are precisely the reverse.

Protection had brought Great Britain in the year 1842 to the last stages of penury and decay, and it wanted but a year or two more of the same regimen to have precipitated the country into a bloody revolution.

I quote a paragraph from Miss Martineau's "History of England from 1816 to 1854," Book VI, Chapter 5: "Serious as was the task of the Minister (Sir R.Peel) in every view, the most immediate sympathy was felt for him on account of the fearful state of the people.