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Encyclopedia > Tariff of 1857

The Tariff of 1857 was a major tax reduction in the United States, creating a mid-century lowpoint for tariffs. It amended the Walker Tariff of 1846 by lowering rates to around 17% on average. The 1846 Walker tariff was a Democrat-passed bill that reversed the high rates of tariffs imposed by the Whig-backed Black Tariff of 1842 under president John Tyler. ...


The Tariff of 1857's cuts lasted only three years though. In 1861 the country changed course under the heavily protectionist Morrill Tariff. The Morrill Tariff of 1861 was a major protectionist tariff bill instituted in the United States. ...


See also


  Results from FactBites:
 
Tariff of 1857 - Wikipedia, the free encyclopedia (374 words)
The Tariff of 1857 was a major tax reduction in the United States, creating a mid-century lowpoint for tariffs.
The Tariff of 1857 was authored primarily by Robert Mercer Taliaferro Hunter of Virginia.
When the Panic of 1857 struck later that year, protectionists, led by economist Henry C. Carey, blamed the downturn on the new Tariff schedule.
Morrill Tariff - Wikipedia, the free encyclopedia (3506 words)
The Morrill Tariff of 1861 was a protectionist tariff bill passed by the U.S. Congress in early 1861.
In 1860 American tariff rates were among the lowest in the world and also at historical lows by 19th century standards, the average rate being around 18% ad valorem.
A de facto constitutional mandate that tariffs lie on the lower end of the Laffer relationship means that the Confederacy went beyond simply observing that a given tax revenue is obtainable with a "high" and "low" tax rate, a la Alexander Hamilton and others.
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