Emperor Napoleon III initiates free trade reforms in France
Emperor Napoleon III ordered free trade reforms in France with the immediate removal of custom's duties on wool and cottons. He also instructed a more gradual reduction in other items, including sugar. This paves the way for a free trade treaty with Britain signed a few weeks later. (By John Osborne)
The American Almanac and Repository of Useful Knowledge for the Year 1861 (Boston: Crosby, Nichols, Lee and Company, 1860), 406.