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I

Within approximately two centuries and economists-theorists, and experts not

Doubted the important advantages to the country, following of the active Trading balance and serious danger of passive balance, especially if The last leads to leak of precious metals. However during the last

100 years the surprising difference in opinions has come to light. A great bulk

Statesmen and people of practice in the majority of the countries and, perhaps,

About their half even in Great Britain - in the homeland of an opposite view - Remained are true to the old doctrine. At the same time almost all Economists-theorists began to assert that these fears at all

Are proved if only not to approach to business with very the narrow point of view,

As the foreign trade mechanism is capable to self-regulation, and attempts

To interfere with its operation not only are useless, but also carry on to pauperisation of those,

Who resorts to them, losing advantages of the international division of labour.

It will be convenient, following the installed tradition, to name older

The term as each of them has both wider, and narrower Value, it is necessary to understand depending on a context.

Generally speaking, modern economists not only assert that The international division of labour, as a rule, eventually gives more Advantages, than a policy of mercantilism, but also declare all argument

For example, Marshall (134) though also it is impossible to tell that it is negative

Responds about mercantilism, has not considered it necessary to concern at all the main ideas

Their sights about which I will speak more low (135). Similarly and

Directions in modern polemic concerning assistance to development New industries or about relation improvement between the prices on The export and import goods, do not mention the basis of ideas

Mercantilism. I do not remember, that during discussions concerning the financial

Politicians in the first quarter of current century though any economist Has agreed with that the protectionism can increase internal employment. Perhaps, is better to quote impartially that I wrote to that Time. In 1923 I as the true pupil of classical school, not Doubting to what it learnt, and without doing any retreats, wrote: "If also there is something that cannot make protectionism so it to cure From unemployment... In favour of protectionism there are certain arguments, Grounded on that it can bring some, though also improbable,

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