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The Democrats in Congress, dominated by Southern Democrats, wrote and passed the tariff laws in the 1830s, 1840s, and 1850s, and kept reducing rates, so that the 1857 rates were down to about 15%, a move that boosted trade so overwhelmingly that revenues actually increased, from just over $20 million in 1840 ($0.6 billion in 2023 dollars), to ...
The Era of Theodore Roosevelt, 1900–1912 (1958) pp. 242–247 read online; Solvick, Stanley D. "William Howard Taft and the Payne–Aldrich Tariff." Mississippi Valley Historical Review (1963) pp. 424–442 in JSTOR. Taussig, Frank W. The Tariff History of the United States (8th ed. 1931), pp. 361–408 online; Wolman, Paul.
Proponents of tariff reduction asked Roosevelt to call a special session of Congress to address the issue in early 1905, but Roosevelt was only willing to issue a cautious endorsement of a cut in tariff rates, and no further action was taken on the tariff during Roosevelt's tenure. [100]
Signed into law by President Theodore Roosevelt on June 29, 1906 The Hepburn Act is a 1906 United States federal law that expanded the jurisdiction of the Interstate Commerce Commission (ICC) and gave it the power to set maximum railroad rates.
While Roosevelt had largely avoided the tariff issue, Taft became the first Republican president to actively seek to lower tariff rates. [39] Representative Sereno E. Payne, chairman of the House Ways and Means Committee and an ally of conservative Speaker of the House Joseph Gurney Cannon, took charge of drafting tariff legislation.
In 1861, just before the Civil War, Congress enacted the Morrill Tariff, which applied high rates and inaugurated a period of relatively continuous trade protection in the United States that lasted until the Underwood Tariff of 1913. The schedule of the Morrill Tariff and its two successor bills were retained long after the end of the Civil War.
In 1789, Congress passed a tariff act , imposing a 5% flat rate tariff on all imports. Between 1792 and the war with Britain in 1812, the average tariff level remained around 12.5%. In 1812, all tariffs were doubled to an average of 25%, in order to cope with the increase in public expenditure due to the war.
He initially supported President Taft, but broke with Taft after the latter failed to push a reduction in tariff rates. He challenged Taft for the Republican presidential nomination in the 1912 presidential election, but his candidacy was overshadowed by Theodore Roosevelt. La Follette's refusal to support Roosevelt, and especially his suicidal ...