*** Welcome to piglix ***

Tariff of 1833


The Tariff of 1833 (also known as the Compromise Tariff of 1833, ch. 55, 4 Stat. 629), enacted on March 2, 1833, was proposed by Henry Clay and John C. Calhoun as a resolution to the Nullification Crisis. Enacted under Andrew Jackson's presidency, it was adopted to gradually reduce the rates following southerners' objections to the protectionism found in the Tariff of 1832 and the 1828 Tariff of Abominations; the tariffs had prompted South Carolina to threaten secession from the Union. This Act stipulated that import taxes would gradually be cut over the next decade until, by 1842, they matched the levels set in the Tariff of 1816—an average of 20%. The compromise reductions lasted only two months into their final stage before protectionism was reinstated by the Black Tariff of 1842.

The Tariff of 1828, enacted on May 19, 1828, was a protective tariff passed by the U.S. Congress. It was the highest tariff in U.S. peacetime history up to that point, enacting a 62% tax on 92% of all imported goods. The goal of the tariff was to protect northern U.S. industries by placing a tax on low-priced imported goods, which had been driving northern industries out of business. Nevertheless, the South strongly resisted the Tariff of 1828 for several reasons. Firstly, they were forced to pay higher prices on goods that the region did not produce, and secondly, the reduced importation of British goods made it difficult for the British to pay for cotton imported from the South. In essence, the South was simultaneously forced to pay more for goods and to face reduced income from sales of raw materials. These unfortunate results caused many in the South to refer to the Tariff of 1828 as the Tariff of Abominations.

Vice-President John C. Calhoun opposed the tariff and anonymously authored a pamphlet called the South Carolina Exposition and Protest, in when 1828, since many figured the tariff would be reduced.


...
Wikipedia

...