May 19, 1828 Tariff of Abominations

Cape Cod Curmudgeon's avatarHistorical Easter Eggs – Today in History

Following the industrial revolution, Britain emerged as the economic powerhouse of Europe. As Napoleon Bonaparte attempted to throttle the British economy by shutting down exports to Europe, manufacturers across the UK sought out new trade partners. Among those were their own former colonies, in America.

In the United States, the low prices of British goods had a damaging affect on American manufacturing. Goods were flooding into the market at prices American companies, were unable to match. The tide increased after the war of 1812. Congress passed a tariff on British made goods in 1816 and upped the tax, eight years later.

Protective tariffs worked to the advantage of the north as they tended to strengthen, the industrial economies. To the south, agricultural economies were more dependent on imported goods whether those came from the north, or from overseas. The cotton states doubly resented protective tariffs as they made it more…

View original post 867 more words

Leave a comment

RECENT