When this book was published in 1934, Britain had been a protectionist country for three years. The Import Duties Act and the Ottawa Agreements were based upon four main principles – the use of the tariff as an instrument of revenue, its use as a bargaining weapon, its use as a means of protecting domestic manufacturers, and its use as a means of fostering trade within the British Empire. This book is a valuable analysis of the years of protectionism, measuring the effects on the country’s trade and economy.
1. The Crisis of 1931 2. The New Duties 3. The Advisory Committee 4. Retaliation 5. Bargaining 6. Anomalies and Interference 7. Prices 8. New Tariff Factories 9. Conflict of Interests 10. Disillusionment 11. Log Rolling 12. The Ottawa Agreements I 13. The Ottawa Agreements II 14. Agriculture and Quotas 15. Iron and Steel 16. Shipping 17. ‘Dumping’ 18. The ‘Balance of Trade’ 19. Tariffs for Revenue 20. Unemployment and Production 21. The Folly of Economic Nationalism