Excerpt from The Tariff Policy of England and of the United States Contrasted
There is a prevailing expectation that our customs tariff will be revised by the next Congress. As such legislation will have a direct bearing on the prosperity of the country, it is important that the probable effects of proposed changes should be clearly understood. Theoretical and partisan discussion of the subject will do but little towards that end. Nor will the experience of other nations be a safe guide for us. The conditions of production are so various in different countries that the customs tariff of every nation should be determined by its own interests and needs.
There is no ultimate principle of universal application, involved either in free trade or protection. They are questions of policy. Free trade in England, and protection in the United States, have been so much discussed on theoretical grounds, in disregard of facts and the peculiar condition and requirements of the respective countries, that a popular misapprehension prevails in regard to their real character and effect.
It is my purpose to discuss these questions, in their practical relations to national interests.
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