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Customs Duties

Hamilton's Plan

Tariff of 1816

1st protective tariff

Tariff of 1824

2nd protective tariff, sectionalism, Calhoun opposed it

Tariff of 1828 (Tariff of Abomination)

Nullification Crisis (The South opposed strongly b/c it seemed to support the North)

Tariff of 1833 (Compromise Tariff)

Ended Nullification, reduced tariff rates slowly over 10 years to 1816 levels of 20%

Tariff of1842 (Black Tariff)

Re-instated protectionism, average halved US international trade, signed by John Tyler reluctantly to appease the Whigs

Tariff of 1846 (Walker Tariff)

Repealed Black Tariff, one of the lowest tariff in history, reduced to 25%, increased trade and revenue, relations with Britain which had soured due to Oregon territory dispute. Brit. reciprocated by lowering its tariffs

Tariff of 1857

Lowered tariffs to 17%, was supported by export-dependent South, was blamed for a cause of the panic of 1857 (though today economists reject this explanation)

Tariff of 1861 (Morrill Tariff)

Average of 38%, Tariff of 1857 was one of the lowest in the world and seen as the cause of the Panic, Passed by US to raise revenue to support the Civil War, 3/4 of the money for the Civil War came from tariffs

Tariff of 1890 (McKinley Tariff)

Pro-business, Republicans agreed to support Sherman Silver Purchase Act (in favor of the debtors, aka the farmers), Direct cause of the Panic of 1893, Hurt farmers since they were forced to pay high prices for domestic farm tools while selling their products in an uncompetitive market since US agricultural products were already cheap

Tariff of 1897 (Dingley Tariff)

Average 46/5% (high tariff)

Tariff of 1909 (Payne-Aldrich Tariff)

First change since Dingley Tariff
Hurt Taft's support among progressives since they had been calling for lower tariffs. The tariff was in effect a compromise lowering some good but raising others, Raised the tariff on print paper which angered progressives since they relied on print media, Taft signed it attempting to unite the party but it split the Rep. into Progressives and Old Guards, Republican's lost mid-term election of 1910, led to Bull Moose in 1912

Tariff of 1913 (Underwood Tariff)

Wilson's plan to LOWER tariffs (40->25%)

Tariff of 1930 (Hartley-Smoot Tariff)

60%, Created trade protectionism and deepened the global depression

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