Liberty in the Nineteenth CenturyHolland, Frederic May
Philosophy
Liberty in the Nineteenth Century
Holland, Frederic May
Liberty; Social history
IV. These bad results of Jackson's administration strengthened the
Whigs. They had not ventured to make protectionism the main issue in
1832; and Clay had acknowledged that all the leading newspapers and
magazines were against it in 1824. Its adoption that year was by close
votes, and in spite of Webster's insisting that American manufactures
were growing rapidly without any unnatural restrictions on commerce. The
duties were raised in 1828 to nearly five times their average height in
1789; and there was so much discontent at the South, that some slight
reductions had to be made in the summer of 1832; but the protectionist
purpose was still predominant. If the opponents of all taxation except
for revenue had done nothing more than appeal to the people that autumn,
they would have had Congress with them; Jackson was already on their
side; and the question might have been decided on its merits after full
discussion. The threat of South Carolina to secede caused the reduction,
which was actually made in 1833, to appear too much like a concession
made merely to avoid civil war; and this second attempt to preserve the
Union by a compromise was a premium upon disloyalty. This bargain, like
that of 1820, was arranged by Henry Clay; and one condition was that the
rates should fall gradually to a maximum of twenty per cent. Before that
process was completed, the Treasury was exhausted by bad management;
and additional revenue had to be obtained by raising the tariff in 1842.
The Whigs were then in power; but they were defeated in the presidential
election of 1844, when the main issue was protectionism. The tariff was
reduced in 1846 by a much larger majority than that of 1842 in the House
of Representatives; and the results were so satisfactory that a further
reduction to an average of twenty per cent, was made in 1857, with the
general approval of members of both parties. The revenue needed for war
had to be procured by increase of taxation in 1861; but the country had
then had for twenty-eight years an almost uninterrupted succession of
low tariffs.
Public-domain text, read in full here on John Shaqi.
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