Fair Trade, an expression used by certain persons who, professing to be free traders, would still tax goods imported from any country which refuses to accept the principles of free trade. Free traders consider this view as protectionist. The issue is now very prominent in England owing to the open stand of Joseph Chamberlain in favor of "fair trade," and his resignation from the Cabinet on account of that advocacy.

Entry from Everybody's Cyclopedia, 1912.