BASTIAT, Faminuo, an eminent political economist, was b. at Bayonne on the 29th of June, 1801. His father was a merchant, and educated his son with a view to the same profession. After completing his studies, B. entered the commercial house of one of his uncles, established at Bayonne. and employed his leisure hours in the study of political economy. Circumstances called him into Spain and Portugal in 1840, where he took advantage of the opportunity afforded him to study the customs and institutions of these two countries, which have still much to learn before they can be on a footing of equality with other nations in matters of finance and political economy. His first appearance as an author was in 1844. when he published, in the Journal des Economistes, aim article "On the Influence of French and English Tariffs on the Respective Futures of the two Peoples." It contained in germ 11.'s theory of political economy; who, from that moment, was a decided opponent of the system of protection. Subsequently, In the same journal, lie combated the economic fallacies of socialism and the rights of labor. During a visit to England, he made. the acquaintance of Cobden, and on his return to France, he translated, 1845, the speeches of the free-traders, which he published with an introductory. preface, entitled Cobden and the League, or the English Agitation in Muir of Free Trade, in which he gathered up into one solid mass the inconveniences of the protective system. B. now went to reside in Paris, where he continued to propagate
his views with considerable success; he became secretary of the societies, and chief editor of the journal established to vindicate the principles of free trade. After the revolution of 1848, he was elected successively a member of the constituent and legis lative assemblies. In 1850, he came forward as the antagonist of the socialist Suffering from pulmonary disease, he repaired to Italy for change of climate, but died at Rome on the 24th Dee. 1850.
Besides the writings mentioned, B. published Sophismes Economignes—Propriete et Lot, Justice et Fraternite—Protectionisme et Communisme, Harmonies Economiquea, and several other important tractates, all of which exhibit extensive knowledge of the subjects discussed, convincing logic, and a power of sprightly and biting satire. The Harmonies Economigues has been translated into English by I'. J. Stirlino. (Harmonies of Political Economy, Murray, Loud. 1860). The soundness of the principles which the writings of B. uphold, notwithstanding the protectionist tendencies of the government, Is now generally acknowledged in France.