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In the Early Twentieth Century, Joseph Chamberlain was traveling across Britain trying to rally support for Imperial Preference over Free Trade. I'm just wondering, speaking both Economically and in Foreign Policy what are the different arguments for the two? I know for instance that Free Trade advocates spoke of a rise in the price of bread, while Imperial Preference advocates spoke of strengthening the Empire. But more fundamentally like British Exports, Market Access, the strength of the Pound, military expenditure etc. What are the effects?

And which would you say is better for the British?
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