Asked in Needs a Topic
Needs a Topic
What were high tariffs supposed to help farmers with?
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Asked in US Presidents, Economics
Why are high tariffs supposed to Help American Economy?
High tariffs are supposed to help the American economy because they place taxes on imported goods. Tariffs promote the purchasing of American-made goods because they are sold at a lower price, without the tariff. Also, if people decide to buy foreign goods instead, then the government makes money from the tariffs that were paid.
What was the major complaint of farmers in the late 1800s?
Asked in Trains and Railroads
Farmers did not like high tariffs and railroad monopolies because they seemed to support what?
Asked in History of the United States
How did reformers differ from the republicans on the issue of high tariffs?
Asked in US Presidents, Chester A. Arthur
What was Chester A Arthur's platform?
Asked in US Civil War
What occurred when tariffs were high on Hawaiian exports in the 1890s?
Asked in History, Politics & Society
How did the Hawley Smoot tariff damage the US economy?
In an effort to increase the protection of domestic farmers against foreign agricultural imports, the Smoot-Hawley Act was passed. Efforts at European economic recovery following World War I led to massive agricultural overproduction. Food prices declined, causing farmers incomes to decline drastically. President Hoover, vowed to help farmers using protective tariffs . But soon everyone, including industry, wanted protective tariffs as well. The result, was the highest level of tariffs in US history. Foreign exporters retaliated, hitting US imports with high tariffs as well. Although the Smoot-Hartley Tariff Act did not cause the Depression, it made it a lot worse and International trade diminished to less than one third of its original totals.