The commercial treaty between France and Britain…
1789 CE
The French harvest fails in 1788-89 and following the outbreak of the French Revolution, the Ancien Régime collapses and with it the Eden Treaty.
Although the treaty is short-lived, it still has significance in economic history as it marks the end of an important phase of commercial relations between England and France, and, moreover, Europe.
Prior to the treaty, it was accepted that high tariffs, prohibitory laws, and isolationist ideals were economically advantageous for each country.
Though it failed, the Eden Treaty, along with Adam Smith’s Wealth of Nations, and the liberal publications emanating from the American Revolution and its subsequent Constitutional Convention, give credence to a new economic policy that will eventually replace mercantilism.