Evil protectionist and slave owner to boot. The only Virginian more evil is Gen. Robt. E. Lee.
Posted on 08/29/2015 6:23:47 PM PDT by dennisw
The Tariff Act of 1789, was the first major Act passed in the United States under its present Constitution of 1789 and had two purposes as stated in Section I of the Act which reads as follows;
The Federal legislature, acting under the recently ratified US Constitution, authorized the collection of tariff and tonnage duties to meet the operating costs of the new central government, to provide funds to pay the interest and principal on revolutionary war debts inherited from the Continental Congress.[2] It also provided a degree of protection. "The protective acts of the states furnished the experience on which the national legislators based their proceedings."[3] The general range of duties was by no means such as would have been thought protective in later days; but the intention to protect was there.[4]
The debates over the purpose of the tariff exposed the sectional interests at stake: Northern manufacturers favored high duties to protect industry; Southern planters desired a low tariff that would foster cheap consumer imports.[5] The final bill extracted concessions from both interests, but delivered a distinct advantage to maritime and manufacturing regions of the country.[6][7]
Representative James Madison of Virginia navigated to passage, but was unable to insert provisions that would have discriminated against British imports[8][9] and shift the carrying trade to French and American vessels.
The Tariff Bill was passed in the House by a vote of 31-19 on July 1, 1789; the resultant enrolled Bill was signed by the Speaker of the House and the President of the Senate on July 2, 1789; and President Washington signed the Act in law on July 4, 1789. [10]
Which version of the Wikipedia article is this?
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Kinda a consumption tax.
Free Traitors™ hate President Washington.
Unions love tariffs.
Consumers, not so much.
So you know how many manufacturing jobs in the USA are performed by union members?
Screw our overfed bovine consumers. Our number one priority should be home grown production over consumption, which translates into useful real world jobs.
Evil protectionist and slave owner to boot. The only Virginian more evil is Gen. Robt. E. Lee.
If it was good enough for our founding fathers, it’s good enough for me.
Abolish the income tax. Reinstate tariffs. Let China pay our debts.
Tariffs would be a feature of a Trump Presidency.
The tariff, but mostly the land sales, worked so well that the government never came up with the state taxation system that was to be the trade-off for the 3/5s clause counting slaves for representation AND taxation. As a result, the South got an average of 6% more representation in Congress (counting three out of five slaves) and never had to pay for it with higher taxes.
The number of union jobs has no bearing on whether Big Labor loves tariffs. Are you a union member?
I am not in a union nor know anyone in a union.
To be honest I think STEM workers SHOULD join form a union to protect against H-1B visa abuse.
Exactly why I posted this! The Federal Gov't was lots smaller and was funded primarily by tariffs until the 1913 era when we got the double whammy of the Federal Reserve Bank and the Federal income tax which originally was just 1%. Other Federal funding came from taxes on alcohol, tobacco and fire arms. The ATF enforced these taxes. ATF collected these taxes as part of the Treasury Department and still does..
In 1982 I was shopping for my first new vehicle. I had decided to buy either a Toyota or Nissan (Datsun way back then).
Just before I had enough money saved for a downpayment, the good ol’ boys from Detroit convinced Reagan a tariff on Jap trucks would help American jobs. Everything was going to be just wonderful.
Well, the tariff was $500 (a lot of money then - especially on an $8000 truck).
Guess what happened the very next day? All three U.S. automakers raised the list price on their small trucks by $495.
Those who favor tariffs must not be very good at math - or economics. Or maybe they’d like to combine a tariff with a new federal “price fairness” department to make sure everybody played nice.
Actually Reagen saved the US auto industry thru tariffs and quotas and trade deals that made sense.
Yes, like NAFTA. God Bless Ronald Reagan.
Reagan had nothing to do with nafta.
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