(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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