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Morrill Tariff
The Morrill Tariff was an increased import tariff in the United States that was adopted on March 2, 1861, during the last two days of the Presidency of James Buchanan, a Democrat. It was the twelfth of the seventeen planks in the platform of the incoming Republican Party, which had not yet been inaugurated, and the tariff appealed to industrialists and factory workers as a way to foster rapid industrial growth.
It was named for its sponsor, Representative Justin Smith Morrill of Vermont, who drafted it with the advice of the economist Henry Charles Carey. The eventual passage of the tariff in the US Senate was assisted by multiple opponent senators from the South resigning from Congress after their states declared their secession from the Union. The tariff rates were raised to both make up for a federal deficit that had led to increased government debt in recent years and to encourage domestic industry and foster high wages for industrial workers.
The Morrill Tariff replaced a lower Tariff of 1857 which had been developed in response to a federal budget surplus in the mid-1850s.
Two additional tariffs sponsored by Morrill, each higher than the previous one, were passed under President Abraham Lincoln to raise revenue that was urgently needed during the American Civil War.
The tariff inaugurated a period of continuous protectionism in the United States, and that policy remained until the adoption of the Revenue Act of 1913, or Underwood Tariff. The schedule of the Morrill Tariff and both of its successors were retained long after the end of the Civil War.
Tariff in United States history has often been made high to encourage the development of domestic industry, and had been advocated, especially by the Whig Party and its longtime leader, Henry Clay. Such a tariff was enacted in 1842, but in 1846 the Democratic Party enacted the Walker Tariff, which cut tariff rates substantially. The Democrats cut rates even further in the Tariff of 1857, which was highly favorable to the South.
Meanwhile, the Whig Party collapsed, and tariffs were taken up by the new Republican Party, which ran its first national ticket in 1856. Some former Whigs from the border states and the Upper South remained in Congress as "Opposition," "Unionist," or "American," (Know Nothing) members and supported higher tariffs.
The Panic of 1857 led to calls for protectionist tariff revision. The famous economist Henry C. Carey blamed the panic on the new tariff. His opinion was widely circulated in the protectionist media for higher tariffs.
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Morrill Tariff
The Morrill Tariff was an increased import tariff in the United States that was adopted on March 2, 1861, during the last two days of the Presidency of James Buchanan, a Democrat. It was the twelfth of the seventeen planks in the platform of the incoming Republican Party, which had not yet been inaugurated, and the tariff appealed to industrialists and factory workers as a way to foster rapid industrial growth.
It was named for its sponsor, Representative Justin Smith Morrill of Vermont, who drafted it with the advice of the economist Henry Charles Carey. The eventual passage of the tariff in the US Senate was assisted by multiple opponent senators from the South resigning from Congress after their states declared their secession from the Union. The tariff rates were raised to both make up for a federal deficit that had led to increased government debt in recent years and to encourage domestic industry and foster high wages for industrial workers.
The Morrill Tariff replaced a lower Tariff of 1857 which had been developed in response to a federal budget surplus in the mid-1850s.
Two additional tariffs sponsored by Morrill, each higher than the previous one, were passed under President Abraham Lincoln to raise revenue that was urgently needed during the American Civil War.
The tariff inaugurated a period of continuous protectionism in the United States, and that policy remained until the adoption of the Revenue Act of 1913, or Underwood Tariff. The schedule of the Morrill Tariff and both of its successors were retained long after the end of the Civil War.
Tariff in United States history has often been made high to encourage the development of domestic industry, and had been advocated, especially by the Whig Party and its longtime leader, Henry Clay. Such a tariff was enacted in 1842, but in 1846 the Democratic Party enacted the Walker Tariff, which cut tariff rates substantially. The Democrats cut rates even further in the Tariff of 1857, which was highly favorable to the South.
Meanwhile, the Whig Party collapsed, and tariffs were taken up by the new Republican Party, which ran its first national ticket in 1856. Some former Whigs from the border states and the Upper South remained in Congress as "Opposition," "Unionist," or "American," (Know Nothing) members and supported higher tariffs.
The Panic of 1857 led to calls for protectionist tariff revision. The famous economist Henry C. Carey blamed the panic on the new tariff. His opinion was widely circulated in the protectionist media for higher tariffs.