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.