FACTOID # 74: More than a third of the time, Icelanders don't show up for work. Perhaps that's why they're the world's happiest nation.
 
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Encyclopedia > Compromise of 1833

This American tariff was enacted due to Southern agitation over tariff protection of Northern manufacturing in the early American industrial revolution. It reduced the profits flowing to the North. The terms stated that the tariff rates would be gradually reduced to the rates of the Tariff of 1832 (by about 10%) over 8 years. By 1842, the tariff rates would then be at the levels of 1816 (approximately 20-25% on the value of dutiable goods). It proved that the South could assert some power, and briefly held off the American Civil War.


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Tariff of 1833 - Wikipedia, the free encyclopedia (164 words)
The Tariff of 1833, also known as the Compromise Tariff, was proposed by Henry Clay and John C. Calhoun as a resolution to the Nullification Crisis.
It was adopted to gradually reduce the rates after southerners objected to the protectionism found in the Tariff of 1832 and the 1828 Tariff of Abominations, which had given cause to South Carolina to threaten secession from the Union.
The compromise reductions lasted only two months in their final stage before protectionism was reinstated by the Black Tariff of 1842.
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