The South got their way only in that the tariff was reduced, but it was still transferring 40 to 50 million dollars a year to the North in terms of higher prices on imported goods and higher prices on protected Northern manufactured goods.
Here is Senator Robert Toombs on November 13, 1860 on protectionism of the North (my bold and underline below):
Even the fishermen of Massachusetts and New England demand and receive from the public treasury about half a million of dollars per annum as a pure bounty on their business of catching codfish. The North, at the very first Congress, demanded and received bounties under the name of protection, for every trade, craft, and calling which they pursue, and there is not an artisan in brass, or iron, or wood, or weaver, or spinner in wool or cotton, or a calicomaker, or iron-master, or a coal-owner, in all of the Northern or Middle States, who has not received what he calls the protection of his government on his industry to the extent of from fifteen to two hundred per cent from the year 1791 to this day. They will not strike a blow, or stretch a muscle, without bounties from the government. No wonder they cry aloud for the glorious Union; they have the same reason for praising it, that craftsmen of Ephesus had for shouting, "Great is Diana of the Ephesians," whom all Asia and the world worshipped. By it they got their wealth; by it they levy tribute on honest labor. It is true that this policy has been largely sustained by the South; it is true that the present tariff was sustained by an almost unanimous vote of the South; but it was a reduction - a reduction necessary from the plethora of the revenue; but the policy of the North soon made it inadequate to meet the public expenditure, by an enormous and profligate increase of the public expenditure; and at the last session of Congress they brought in and passed through the House the most atrocious tariff bill that ever was enacted, raising the present duties from twenty to two hundred and fifty per cent above the existing rates of duty. That bill now lies on the table of the Senate. It was a master stroke of abolition policy; it united cupidity to fanaticism, and thereby made a combination which has swept the country. There were thousands of protectionists in Pennsylvania, New Jersey, New-York, and in New-England, who were not abolitionists. There were thousands of abolitionists who were free traders. The mongers brought them together upon a mutual surrender of their principles. The free-trade abolitionists became protectionists; the non-abolition protectionists became abolitionists. The result of this coalition was the infamous Morrill bill - the robber and the incendiary struck hands, and united in joint raid against the South.
Here is another item for you. The one is from a December 1860 article in the Chicago Times as reported in the New Orleans Daily Picayune:
The South has furnished near three-fourths of the entire exports of the country. Last year she furnished seventy-two percent of the whole . . . We have a tariff that protects our manufacturers from thirty to fifty percent, and enables us to consume large quantities of Southern cotton, and to compete in our whole home market with the skilled labor of Europe. This operates to compel the South to pay an indirect bounty to our skilled labor, of millions annually.
Point game match to Rustbucket.