Abstract
T HERE is no subject upon which the opinions of the average man or woman and those of the trained economist are so far apart as upon the question of the tariff. Since the days of Adam Smith the overwhelming number of economists have been in favor of free trade as the sound economic policy for states and nations. The protection of infant industries in new or undeveloped countries has received the temporary support of many economists, but always on the understanding that protection was not to be a permanent policy and that reductions in the rates would take place as the infant industry overcame the initial handicap. Friedrich List would not today be regarded as a good protectionist; on the contrary he would be accused of being at heart a free trader. But, in all countries, where the policy of protection has been advocated and defended
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