Tariffs

= Tariffs ​=

-designed to protect domestic manufacturing -discourage competition from abroad and compelled foreign competitors to raise prices on their commodities -provide the government with revenue
 * __Tariff of 1789:__**

//Jefferson and Madison Presidencies:// -stopped importation of many British commodoties but failed to influence the British
 * __1. Nonintercourse Act (1806):__**

-prohibited all forgein trade -devistating effect on New England economy
 * __2. Embargo Act (1807):__**

-trade was opened with all nations except Britain and France
 * __3. Nonintercourse Act (1809):__**

-replaced Nonintercourse Act -open trade with Britain and France
 * __4. Macon's Bill No. 2 (1810):__**

//American System:// -1st protective tariff -make American products cheaper -protects infant industries -no benefit for the South
 * __Tariff of 1816:__**

//1824-1840//

-"Tariff of Abominations" -greatly opossed by the South with a fear of growing federal power that might interfere with slavery -New England backed high tariffs while South demanded lower duties -attempted to garner the necessary two-thirds majority to nullify it in the S.C. legislature, but determined Unionists blocked them
 * __Tariff of 1828:__**

-did away with the worst parts of the Tariff of 1828 -lowering the tariff down to 35% -the "nullies" of South Carolina said this was to be void in the state of South Carolina
 * __Tariff of 1832:__**

-compromise of previous tariffs; made by Henry Clay -passed at the same time as Force Bill
 * __Tariff of 1833:__**

-in the North, increase tariff rates by 5 to 10%
 * __Morrill Tariff Act:__**