"The free trade movement in the middle of the last century represents the first conscious recognition of these new circumstances and of the necessity to adapt to them"

In this quote, Christian Lous Lange discuss a significant historic shift brought about by the free trade movement during the 19th century. To unload this declaration, it is essential to consider the wider context of this period, marked by fast industrialization, technological improvement, and globalization.

Lange refers to the "open market movement" as an essential change in economic thought and policy during the 1800s. This period saw a shift from protectionist policies, where governments enforced tariffs and limitations on imports to protect domestic markets, to policies promoting for the decrease or elimination of these trade barriers. The move towards free trade was partly influenced by the intellectual foundation laid by classical economists like Adam Smith and David Ricardo, who argued that open market could lead to more effective resource allotment and mutual benefits for trading countries based upon relative benefit.

When Lange speaks of "the first conscious acknowledgment of these new scenarios and of the need to adapt to them," he is highlighting a cumulative awareness among nations and policymakers of the transforming global financial landscape. The Industrial Revolution had actually dramatically altered production capabilities and consumption patterns, permitting products to be produced more effectively and at a scale previously unimaginable. This required a reevaluation of how nations engaged financially with one another.

Through the lens of this quote, Lange suggests that the open market motion was not just a financial advancement but an acknowledgment of a deeper, unavoidable shift in the international order. Nations were increasingly interlinked, and isolationist policies became less practical in the face of growing international interdependence. Adapting to these brand-new scenarios indicated embracing openness to trade as a way to foster economic development, innovation, and cooperation.

In summary, Lange's statement highlights the free trade motion as a critical turning point where financial policy started to show the truths of a quickly globalizing world, acknowledging the requirement to adapt to freshly developed situations caused by commercial and technological advances.