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To: Sam Gamgee
Were America’s historical tariffs punitive or just revenue drive?

Tariffs played many roles in US history. They were indeed the principal source of Federal revenue during roughly the first half of US history. However, they weren't in place solely as a source of revenue. They were introduced so that America's up and coming industries would not be undersold and ultimately bankrupted by cheaper manufacturing by well-established British and European factories. A strong case can be made that the US would have taken much longer to become an industrial power if it weren't for protective tariffs during the 19th century.

You've probably heard the term "the American System" used to refer to the economic and industrial policies of the Federalists (which were carried on by 19th and early 20th century Republicans). Donald Trump's advocacy of tariffs and increased spending on infrastructure makes him an heir to this political tradition.

68 posted on 03/06/2018 12:01:43 PM PST by ek_hornbeck
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To: ek_hornbeck

Then it comes down to who do respect and agree with. The Federalists (whom were pro-Britain, and maybe connected to much to big banking interests) or the Anti-Federalists like Jefferson (who were pro-France and I must agree too invested in a agricultural vision for America).

Personally, I am not a fan of Alexander Hamilton, and have a hard time not liking Jefferson, though think his pro-France stance was a little misplaced.


70 posted on 03/06/2018 12:11:12 PM PST by Sam Gamgee
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