Search results
Results from the WOW.Com Content Network
The Tariff of 1832 (22nd Congress, session 1, ch. 227, 4 Stat. 583, enacted July 14, 1832) was a protectionist tariff in the United States.Enacted under Andrew Jackson's presidency, it was largely written by former President John Quincy Adams, who had been elected to the House of Representatives and appointed chairman of the Committee on Manufactures.
Most importantly, the Tariff of 1833 guaranteed that all tariff rates above 20% would be reduced by one tenth every two years with the final reductions back to 20% coming in 1842. This essentially forced import tariffs to gradually drop over the next decade, pleasing South Carolina and other Southern states that depended on cheap imports.
Tariffs have historically served a key role in the trade policy of the United States.Their purpose was to generate revenue for the federal government and to allow for import substitution industrialization (industrialization of a nation by replacing imports with domestic production) by acting as a protective barrier around infant industries. [1]
The Tariff of 1842, or Black Tariff as it became known, was a protectionist tariff. It reversed the effects of the Compromise Tariff of 1833. As the 20% level approached in 1842, industrial interests and members of the Whig Party began clamoring for protection by claiming that the reductions left them vulnerable to European competition.
Meanwhile, Congress passed the Force Bill, which was enacted on March 2, 1833. It authorized the president to use whatever force he deemed necessary to enforce federal tariffs. As a matter of principle, the South Carolina legislature voted to nullify the Force Bill, but simultaneously, a Compromise Tariff was passed by Congress, defusing the ...
Download as PDF; Printable version; In other projects ... 1832: Tariff of 1832; 1833: Tariff ... This page was last edited on 1 February 2025, at 00:53 (UTC). Text is ...
Download as PDF; Printable version; ... Tariff of 1833 This page was last ... Text is available under the Creative Commons Attribution-ShareAlike 4.0 License; ...
During the "nullification crisis" of 1828–1833, South Carolina passed an Ordinance of Nullification purporting to nullify two federal tariff laws. South Carolina asserted that the Tariff of 1828 and the Tariff of 1832 were beyond the authority of the Constitution, and therefore were "null, void, and no law, nor binding upon this State, its ...