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To: WhiskeyPapa
It is humorous to note that the prewar Federal iron import tariff, so despised by Secessionist firebrands, was continued by the Confederacy after some of the realities of fiscal and industrial policy set in. On 16 February 1861 the Provisional Confederate Congress blithely passed a bill providing for free import of railway iron. A month later, however, fiscal realities set in and an ad valorem import tax was imposed on such goods at the rate of 15% --- a rate confirmed in the Confederate Tariff Act of 21 May 1861.

To suggest that this 15% tariff in May 1861 ammounted to anti-free trade protectionism is idiocy, Walt. The tariff's low rate indicates very clearly that it was for revenue purposes and therefore not designed to curtail free trade. That 15% rate was in fact lower than any average tariff rate in the U.S. between 1850 and 1860 - a period known to be friendly to free trade. It was also one third of the yankee average tariff rate that kicked in for 1863.

1,356 posted on 12/03/2002 11:23:32 AM PST by GOPcapitalist
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To: GOPcapitalist
The tariff's low rate indicates very clearly that it was for revenue purposes and therefore not designed to curtail free trade.

Is there such a word as oxymoronic?

That's what your sentence is. I also note you don't provide a reference.

Walt

1,358 posted on 12/03/2002 11:29:54 AM PST by WhiskeyPapa
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