In France, the chief mercantilists were Antoine de Montchretian (1576-1621), Jean Baptiste Colbert (1619-83). Richard Cantillon, Montchretien published a book entitled A Tract on Political Economy in which he laid great emphasis on development of agriculture and described it as the basis of all wealth.
He stood for the principle of self-sufficiency and asserted that it is not the abundance of gold and silver; the quantities of pearls and diamonds which make a state rich and opulent but the convenience of the things necessary to life. Probably more profound influence on the development of mercantilism in France was exercised by Colbert.
As Finance Minister of Louis XIV, he moulded the French economic policy and emphasized the need of full state control over the economic activities with a view to make France a powerful and Sf’f- sufficient nation.
He also emphasized the importance of money and asserted that money is the single aim of commerce and the only means of increasing the power to the state. Richard Cantilon, another French scholar, emphasized the need of importing raw materials and exporting
finished products to maintain a favourable balance of trade. He laid emphasis on the import of precious metals to make the country prosperous.