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To: GOPcapitalist

If you are referring to Taussig's conclusions you are not doing so with accuracy since cotton and woolen manufactures were greatly expanded by the restriction on imports imposed by Jefferson then protected by tariffs. Woolens were given only "very moderate encouragement" because of the lack of a minimum valuation.

Taussig's conclusion wrt to the tariff is that it was probably unnecessary for this nation's transition to manufacturing. But one of the two reasons for this result was that the period of restriction (Jefferson's Embargo and the War of 1812) "effectually prepared the way for such a transition." Exclusion of imports is the most severe way of protecting infant industries.


1,794 posted on 11/30/2004 2:47:21 PM PST by justshutupandtakeit (Public Enemy #1, the RATmedia.)
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To: justshutupandtakeit
If you are referring to Taussig's conclusions you are not doing so with accuracy since cotton and woolen manufactures were greatly expanded by the restriction on imports imposed by Jefferson then protected by tariffs.

Bullsh*t. Taussig's conclusion on Cotton textiles is this:

"It has appeared that the introduction of the cotton manufacture took place before the era of protection, and that—looking aside from the anomalous conditions of the period of restriction from 1808 to 1815—its early progress, though perhaps somewhat promoted by the minimum duty of 1816, would hardly have been much retarded in the absence of protective duties." (p. 38)

In summary, they industrialized BEFORE the protectionist tariffs and were NOT helped AFTER the protectionist tariffs.

Taussig's conclusion on Woolens is this:

"The manufacture of woollens received little direct assistance before it reached that stage at which it could maintain itself without help, if it were for the advantage of the country that it should be maintained."

Once again they industrialized BEFORE the protectionist tariffs and were not in need of help after them.

Taussig's summary for Iron:

In the iron manufacture twenty years of heavy protection did not materially alter the proportion of home and foreign supply, and brought about no change in methods of production.

In all three cases protection is found to have achieved virtually nothing positive and certainly nothing anywhere near the level it was claimed it would achieve. No amount of quote mining or out of context excerpts will ever change that fact, which is stated in the plainest of English in his conclusion as quoted above.


1,812 posted on 11/30/2004 5:14:28 PM PST by GOPcapitalist ("Marxism finds it easy to ally with Islamic zealotism" - Ludwig von Mises)
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