A novel data collection provides comparative evidence on the colonial states of the “second” French colonial empire, from their foundation to their devolution in the 1960s. Colonial states were neither omnipotent Leviathans nor casual night watchmen. On the one hand, we emphasize the extractive efficiency and capacity of adaptation of colonial states to different socioeconomic contexts and varying historical conditions. On the other hand, we put forward dualism as their main common feature and legacy. Colonial public expenditure was biased towards the needs of French settlers and capitalists. It was also costly, as high wages had to be paid to expatriated civil servants.