Benjamin Franklin : $b Representative selections, with introduction, bibliograpy, and notesFranklin, Benjamin
General
Benjamin Franklin : $b Representative selections, with introduction, bibliograpy, and notes
Franklin, Benjamin
Franklin, Benjamin, 1706-1790
Franklin's agrarianism[i-229] is congruent with physiocracy[i-230] in as
far as he observed that agriculture alone, of the many industries,
produced a surplus of wealth after all of the expenses of production had
been paid.[i-231] Each laborer produced more than enough to satisfy his
own needs. This surplus the Économistes termed the _produit net_. A
worker in manufactures, it was assumed, consumed foodstuffs and other
materials in proportion to the value he created in his manufacturing
process. Hence there obviously could be no _produit net_ accruing from
manufactures. Like the physiocrats, Franklin felt that manufactures were
_sterile_, to the extent that no new wealth was created. The physiocrats
believed, however, that laborers in manufacturing industries _could_
create a _produit net_ if they stinted themselves in consuming
foodstuffs, et cetera, but it was argued that this prudential asceticism
was not a characteristic habit. To this extent at least the physiocrats
were empirical.
Free trade no less than agrarianism characterized physiocracy. Although
Franklin indicated his antagonism toward governmental restraint of
trade, internal and among nations, in his antipathy toward British
mercantilism, it was not until after he became impregnated with French
doctrine that he began to express very fully his advocacy of free trade.
After Connecticut imposed a 5% duty on goods imported from neighboring
colonies, Franklin wrote to Jared Eliot in 1747 that it was likely that
the duty would devolve on the consumer and be "only another mode of
Taxing" the purchaser. In addition he recognized that smuggling,
virtually a colonial art, would cause the "fair Trader" to "be undersold
and ruined."[i-232] He urged that the import duty might suggest
selfishness, and might also tend to deter Connecticut commerce. Here, it
must be admitted, Franklin did not sanction free trade with a priori
appeals to the "natural order," the key in the arch of physiocracy. He
rather appealed to the instincts and observations of the prudential
tradesman. His _Plan for Regulating Indian Affairs_ (1766), unlike his
1747 letters, _suggested_ (if it did not express concretely) inviolable
laws of commerce in the words: "It seems contrary to the Nature of
Commerce, for Government to interfere in the Prices of Commodities....
It therefore seems to me, that Trade will best find and make its own
Rates; and that Government cannot well interfere, unless it would take
the whole Trade into its own hands ... and manage it by its own Servants
at its own Risque."[i-233] To Dupont de Nemours he admitted that British
mercantilism had not achieved "that wisdom which sees the welfare of the
parts in the prosperity of the whole."[i-234] To Sir Edward Newenham,
representing the County of Dublin, he expressed admiration for Irish
efforts to secure freedom of commerce, "which is the right of all
mankind." "To enjoy all the advantages of the climate, soil, and
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