ABSTRACT
T he leading features of international commerce and the conditions that govern it have now been sketched. With out entering into details that are only fitted for an economic text-book it is difficult to obviate all objections, but the central position that all exchange, foreign or domestic, is usually beneficial to the persons trading, requires rather clear exposition than elaborate proof, and will receive addi tional support from the evidence that the actual operation of a liberal policy affords. There are, however, some questions connected with the general character of foreign trade that must be briefly examined before passing to the more practical part of our subject.
