America's “Free” Market: Dallas Tariff of 1816

in steemiteducation •  7 years ago 

In 1816, Congress passed another tariff and this time one of the reasons for it was to pay for a projected deficit. Congress had overspent. But the other reason for this tariff is that Britain was trying to run American manufacturers out of business by flooding American markets with high-quality goods at bargain basement prices.

Statesmen of the time considered this to be economic warfare and were worried it would lead to actual warfare again. So even supporters of free markets and free trade were in agreement with a protective tariff to keep American industries from being out-competed. They also went along with it because it was going to be temporary, lasting only three years.

The Dallas Tariff was passed for cotton, wool, leather, and iron goods, and also sugar. The tariff was temporary and came to an end in 1819, but the US passed a brand new tariff in 1820.

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The idea that the government is going to do something temporary is such a joke. It never turns out that way.

That's true. Even if they do end one program, another one is usually waiting in the wings.

The only way to take the government is with a laugh!