Quotation of the Day…

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… is a remark made in the House of Representatives on February 26, 1923, by Cordell Hull (D-TN), as quoted on page 108 of William R. Allen’s March 1953 American Economic Review paper, “The International Trade Philosophy of Cordell Hull, 1907-1933“:

A protective tariff, speaking generally, is immoral and dishonest, because its sole purpose is to increase prices artificially, in certain instances, thereby enabling one citizen to levy unjust tribute from another.