GREAT BRITAIN: Empire Runcimanned

(See front cover)

Great Britain hauled down last week the proud, peculiar standard which she almost alone of the Great Powers has flown for the better part of 80 years: Free Trade.

As late as the 18th Century there was no such policy. "Free Trade," in the swaggering argot of desperados, meant smuggling, a crime punished by Death. To Queen Elizabeth, to Louis XIV or George III it seemed as natural to impose the equivalent of a modern tariff or embargo as to breathe. It seems so still to a majority of statesmen. That...

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