Second in importance only to the above in acting asa deterrent to industrial development is the absence of tariff autonomy. It is a wonder that in discussing the tariff question we should hear so much about the financial aspect and how much more revenue could be raised, to the shameful neglect of the economic side of the question. The repressive effect on industries in an infant stage, by a tariff regulated by treaty need not be argued in order to be, un-
Text read from the printed page and cleaned; old type leaves the occasional error.