Tariff of 1857
The Tariff of 1857 was a major tax reduction in the
The Tariff of 1857 was developed in response to a federal budget surplus in the mid-1850s.
Support for the bill did not come from any political or geographic bloc as a whole, but was driven primarily by local economic interests. For example, Northeastern wool processors supported the bill, as they had been suffering under high duties on their goods, but Northern manufacturers advocated high protectionist tariffs.[2] Southern agricultural interests generally supported the lower tariffs, as they had long felt that the tariffs advocated by Northern industry led to unfairly high costs for the goods that the farmers consumed.[2]
According to the historian Kenneth M. Stampp, the bill "was possible because it did not represent a victory of one section over the other; nor did it produce a clear division between parties. Its supporters included Democrats, Republicans, and Americans; representatives of northern merchants, manufacturers, and railroad interests; and spokesmen for southern farmers and planters. Opposition came largely from two economic groups: the iron manufacturers of Pennsylvania and the wool growers of New England and the West."[2]
When the
The tariff reductions lasted only a few years, as the highly-protectionist Morrill Tariff was signed into law in March 1861.[4]
References
- ^ "Commerce of the United States; The Tariff Act of 1857". The New York Times. March 15, 1862. Retrieved April 15, 2017.
- ^ ISBN 978-0195074819.
- ISBN 978-0807124925.
- ISBN 978-0313319433.)
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Further reading
- Taussig, Frank. Tariff History of the United States (1910) online
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