the foundation of the East India Company by Colbert on different lines marks a distinct step in advance. This Company, fitted out on the Dutch and English models as a chartered body with exclusive privileges and a large capital, was destined to acquire for France a substantial share of that rich commerce in Asiatic commodities that has made the fortune of so many maritime States.
In those days of corruption and intolerance, official tutelage was everywhere a sore burden; but the French Companies had something even heavier to bear. The king, the royal princes, and the principal courtiers took an active part in floating the concern, and they were good enough to subscribe largely to the investment. High ecclesiastic dignitaries condescended to patronize the East India Company; the prospectus was advertised in the churches and recommended from the pulpits; while royal proclamations exhorted all true Frenchmen to seize this opportunity of making their own fortunes and contributing to their country's prosperity.
Strange to say, however, not even these appeals to patriotism and piety roused any widespread enthusiasm among mercantile men. The capital expected from public subscription came in very slowly, in spite of heavy official pressure upon the great towns; for the traders, who had no guarantee for the good faith or consistency of a despotic government, vainly implored the bureaucracy to reduce the crushing tariffs on foreign imports and to leave the management of the busi-
