Twenty Years of Congress, Vol. 1: From Lincoln to Garfield, with a Review of the Events Which Led to the Political Revolution of 1860Blaine, James Gillespie
History
Twenty Years of Congress, Vol. 1: From Lincoln to Garfield, with a Review of the Events Which Led to the Political Revolution of 1860
Blaine, James Gillespie
United States -- History; United States -- History -- 1865-1898
CHAPTER IX.
The Tariff Question in its Relation to the Political Revolution of
1860.--A Century's Experience as to Best Mode of levying Duties.--
Original Course of Federal Government in Regard to Revenue.--First
Tariff Act.--The Objects defined in a Preamble.--Constitutional
Power to adopt Protective Measure.--Character of Early Discussions.
--The Illustrious Men who participated.--Mr. Madison the Leader.--
The War Tariff of 1812.--Its High Duties.--The Tariff of 1816.--
Interesting Debate upon its Provisions.--Clay, Webster, and Calhoun
take part.--Business Depression throughout the Country.--Continues
until the Enactment of the Tariff of 1824.--Protective Character
of that Tariff.--Still Higher Duties levied by the Tariff of 1828.
--Southern Resistance to the Protective Principle.--Mr. Calhoun
leads the Nullification Movement in South Carolina.--Compromise
effected on the Tariff Question.--Financial Depression follows.--
Panic of 1837.--Protective Tariff passed in 1842.--Free-trade
Principles triumph with the Election of President Polk.--Tariff of
1846.--Prosperous Condition of the Country.--Differences of Opinion
as to the Causes.--Surplus Revenue.--Plethoric Condition of the
Treasury.--Enactment of the Tariff of 1857.--Both Parties support
it in Congress.--Duties lower than at Any Time since the War of
1812.--Panic of 1857.--Dispute as to its causes.--Protective and
Free-trade Theories as presented by their Advocates.--Connection
of the Tariff with the Election of Mr. Lincoln to the Presidency.
--General Review.
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