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The Tariff of 1857 was a major tax reduction in the United States that amended the Walker Tariff of 1846 by lowering rates to between 15% and 24%. [ 1 ] [ 2 ] The Tariff of 1857 was developed in response to a federal budget surplus in the mid-1850s. [ 2 ]
The Tariff of 1842 returned the tariff to the level of 1832, with duties averaging between 23% and 35%. The Walker Tariff of 1846 essentially focused on revenue and reversed the trend of substituting specific for ad valorem duties. The Tariff of 1857 reduced the tariff to a general level of 20%, the lowest rate since 1830, and expanded the free ...
The Morrill Tariff of 1861 was a protective tariff law adopted on March 2, 1861. Passed after anti-tariff southerners had left Congress during the process of secession, Morrill designed it with the advice of Pennsylvania economist Henry C. Carey. [13] It was one of the last acts signed into law by James Buchanan, and replaced the Tariff of 1857 ...
Created Date: 8/30/2012 4:52:52 PM
It was the result of the 1857 merger of the periodicals The American Cotton Planter and The Soil of the South. [1] It was published in Montgomery, Alabama, at the printing offices of the Montgomery Advertiser. [2] The editor and publisher was Dr. N. B. Cloud. [3] Topics covered in the magazine included soil erosion and the "impudence of the ...
Far from strengthening the government or the economy, it actually helped enshrine a new era of free trade. Much like today, tariffs were controversial in the late 19th century. Proponents saw them ...
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