Econlib Editor's Notes

Intrigue, murder, posthumous plagiarism, citations by Adam Smith, rediscovery by William Stanley Jevons a century later, and a stunning work on entrepreneurial risk, money, foreign exchange, and banking from the 1700s—what more could one ask for from an 18th century economist? Richard Cantillon offers fascination for historians and economists as much in death as he did in life.

Richard Cantillon, Irish born but living in Paris as a young man, from circumstances became a banker/broker there, and moved in influential, educated social circles. Enriched but embarrassed by speculation in John Law's scheme, he removed to London (perhaps in flight or to protect his assets). Somewhere along the line he wrote this influential work, Essai sur la Nature du Commerce in Général (Essay on the Nature of Trade in General). Probably first written between 1730 and 1734, the first surviving copies are in French, from 1755-56. Whether it was first drafted or circulated in English or in French is unclear; also unclear is what Smith may have seen of it. That Smith was familiar with Cantillon in some form is documented in Smith's own rare citations. Other contemporary economists were also familiar with the work, even to the point of plagiarizing from the unpublished version.

Despite the multiple plagiarizations and the disappearance of early originals, there is general agreement now that Richard Cantillon did indeed write the work; and it did indeed influence Smith and many other contemporaneous economists—the very same the French and English economists whose work became the basis of modern economic thought. Beyond that, though, all we have are the extant 1755-56 French versions and a few translations, of which Higgs's translation is the only thorough edition. Econlib is pleased to present the full translation of this remarkable work. We also bring you Higgs's side-by-side French/English edition for download as a pdf file, as well as our formatted searchable online edition.

Higgs's book also contains these other recommended readings:

Additional recommendations and summaries:

Introduction

by Henry Higgs

The Essai sur la Nature du Commerce en Général, written between 1730 and 1734, is now printed for the first time in England. It follows the French text of 1755 with all faults of grammar, spelling, accent and punctuation. The imperfections, unimportant in themselves, go far to refute the assertion of some authorities that the Essai is a traduction supposée, or, in other words, was composed in French as it stands.

The pagination of the original is indicated by italic figures within square brackets in the text to facilitate reference to quotations by other writers.

The English version, which is printed opposite the French pages, has been collated with the numerous parallel passages in Postlethwayt's Dictionary (see Appendix A); and the phrasing of the Dictionary has been adopted in many instances for the reasons stated on p. 384. The complete English translation of the Essai now offered is the first of its kind, and may be considered a bicentenary tribute to the original.

The article by Jevons, written in the first rapture of discovery, deserves in form and substance to be associated with this edition.

The concluding article corrects some of Jevons's facts, resolves some of his doubts, and adds a further contribution to our knowledge of Cantillon's life and work.

My best thanks are due to Mr and Mrs Bowes Daly for their permission to reproduce the portraits of Cantillon's wife and daughter.

Previous Editions

by Henry Higgs

(1) "Essai sur la Nature du Commerce en Général. Traduit de l'Anglois. A Londres, Chez Fletcher Gyles dans Holborn. 1755." 12mo. Half-title, blank verso, title-page, blank verso, pages 1-430 + 6 unnumbered pages of Contents.

(2) A reprint in 1756, copying the title-page and text of the first issue, but inferior in type and paper. No half-title. Title-page, blank verso, pages 3-427 + 5 unnumbered pages of Contents. 12mo.

(3) Another reprint in 1756 in Vol. III of a collection put out by Eleazar Mauvillon, father of Jakob Mauvillon the Physiocrat. Vol. I, 1754, is entitled Discours Politiques de M. Hume and is a translation of Hume's Essays by M. de M. Vols. II and III, 1756, entitled Discours Politiques, contain reprints of French works. Cantillon's Essai is the concluding portion (pp.151-434) of vol. III. The three volumes were published at Amsterdam, "chez J. Schreuder et Pierre Mortier le jeune," 12mo. This reprint follows the original very closely, repeating e.g. the error un à un on p. 35 and including the references to the missing Supplement. In a few cases the printer or the editor has felt himself obliged to improve the French. Thus, at the end of Part II, cap. 7, le véritable degré is substituted for le degré véritable, and the conclusion of the Essai, à crever la bombe, et on verroit que ce sont des opérations très dangereuses becomes à faire crever la bombe, et on verroit que ce sont des opérations dangereuses.

(4) In 1759 was published "The Analysis of Trade, Commerce, Coin, Bullion, Banks and Foreign Exchanges. Wherein the true Principles of this useful knowledge are fully but briefly laid down and explained, to give a clear Idea of their happy Consequences to Society, when well regulated. Taken chiefly from a Manuscript of a very ingenious Gentleman deceas'd, and adapted to the present Situation of our Trade and Commerce. By Philip Cantillon, Late of the City of London, Merchant. London: Printed for the Author, and Sold by Mr Lewis in Covent Garden.... MDCCLIX. [Price Five Shillings.]" This consists of title-page, blank verso, a Preface and Table of Contents paged iii-xxiv, and pp. 1-215, 8vo. See pp. 333-5, 376-8, as to this work.

(5) In 1767 an Italian translation of the Essai appeared entitled "Saggio sulla Natura del Commercio in Generale. Autore Inglese. Venezia, 1767. Nella Stamperia di Carlo Palese," 12mo. The title-page is followed by 11 unnumbered pages, pp. 1-298, and 2 unnumbered pages at the end—"Del Commercio Italiano." An Introduction dedicated "Al Signor Vicenzo Ferrari, Mercante benemerito a Cittadino di Bassano," is dated Venezia, 3 Ottobre, 1767, and signed "Vostro veto Amico F. Scottoni." The translation has been conscientiously done but is marred by some futile additions in the body of the text such as E' piu di dieci anni che l'Autore à scritto (p. 76), Bella lezione por l'Italia! (p. 83). Scottoni's introduction of 4 pages is poor stuff. He does not seem to have heard of Cantillon, and his translation is of merely bibliographical interest. He has the grace to put into italics his interpolations.

(6) In 1892 the Essai was reproduced in facsimile "so far as was possible with type not manufactured for the purpose" for Harvard University, with a prefatory note of three pages by the present Editor. It preserves the pagination and format of the original "and even typographical errors and irregularities are left unchanged."

(7) Copious extracts from the Essai, in English, were included in the works of Malachy Postlethwayt, some of them prior to 1755 (see post, pp. 383-4).

(8) A translation into English of large sections of the Essai fills pp. 247-277 of Early Economic Thought, edited by A. E. Monroe, Ph.D., Assistant Professor of Economics, Harvard University, Cambridge, Mass. 1924, 8vo.

(9) A German translation of the Essai by Frau Hella Hayek, of Vienna, has just appeared, edited with an excellent introduction of 66 pages by her husband, Dr F. A. Hayek, who obligingly communicated to me a draft of his article. This work, R. Cantillon, Abhandlung über die Natur des Handels im allgemeinen, is published by Gustav Fischer, Jena. 1931. 8vo.