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To: PeaRidge

I will note that the tariff income is described as a percent, but that is a percent of the imported item, itself given an arbitrary value that imperfectly matches its real value.

It may be instructive to compare federal receipts for a few years to nominal estimates of the GDP.V
http://www.measuringworth.com/datasets/usgdp/result.php

Just to be completely arbitrary, lets pick 1800, 1825 and 1850. GDP and tariff dollars in then year nominal millions of dollars.
year____GDP_est._____tariff_____Percent
1800_____476_________9.1______1.9%
1825_____814________20.1______2.5%
1850____2556________39.7______1.6%

It is important to realize that tariff incomes were minimal, and the US federal government was much closer to the libertarian ideal than we can imagine today. This puts the lie to the pretense that the tariff rates in the above years were fit cause for major whining.


186 posted on 04/04/2012 10:14:57 PM PDT by donmeaker (Blunderbuss: A short weapon, ... now superceded in civilized countries by more advanced weaponry.)
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To: donmeaker
"I will note that the tariff income is described as a percent, but that is a percent of the imported item, itself given an arbitrary value that imperfectly matches its real value."

Please provide a source for that quote.

Also, you may be aware that as of 1854 with the introduction of the warehousing act, goods were received by a buyer in a federal warehouse with tariffs being charged on the actual purchase price. Those later transshipped to Southern ports were charged a tariff at that location. In your table you list the tariff rates as:

1800 _____9.1 percent

1825 _____20.1 "

1850 _____39.7 "

According to the BroJoe's tables he presented, the rates were:

1800 _____10.7

1825 _____22.3

1850 _____22.9

I am unsure as to what leads you to using words such as "minimal" or "libertarian" since those are political, not economic terms, and in no way is mathematically defined.

If you are inclined to make comments on Souther reaction, then include data for the Morrill Tariff, which was the issue, and not data from 30 years before.

Keeping in mind that increases of percentages in the range of 3-4% were inflationary, reduced the market for Southern goods not only in Europe but also Central and South America, and resulted in devaluation of the next year's production when tariffs increased.

But,the point is that you are changing the premise of the discussion to cover Brojoe's mistaken post. Whatever.

193 posted on 04/05/2012 12:22:36 PM PDT by PeaRidge
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