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The theory of exchange, that is, comparative advantage, and the Specie Flow 
Mechanism, are short, or at most, medium run propositions. There have 
always been very long run development theories to justify tariffs: 
Hamilton, in the United States in the late eighteenth century; Carey in the 
United States at mid nineteenth century; List in Germany, also at mid 
nineteenth century; and John Rae, wherever you want to locate him, in the 
early nineteenth century. 
 
And there was also the need for revenue as government activity increased, 
and income and sales taxes were still either administratively or 
politically non-feasible. 
 
Robin Neill 
 
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