The Amsterdam literature has pointed out afresh the well-known fact that one of the points at issue between the Catholic and Protestant traditions is the number of the Sacraments, and it may well be that a discussion of this question would bring to light some of the other differences between these two traditions. An attempt is made in this paper to outline a Protestant view of the question. It is clear that “Catholic” is used here in a sense different from that which it bears in the historic creeds. Moreover, the contrast made between Catholic (chiefly Anglo-Catholic) and Protestant (chiefly non-Anglican) views is not intended to deny that the Church of England is in a sense Protestant, or to raise the question how far in loyalty to its formularies it can be other than Protestant.