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What was Alexander Hamilton's position on protective tariffs?
Alexander Hamilton favored protective tariffs because it was an essential part of his financial plan. By protecting America's infant domestic economy, he won the favor of the wealthy classes (merchants and manufacturers).
How did high protective tariffs negatively impact the European nations?
High protective tariffs negatively impacted European nations by stifling international trade and reducing the flow of goods between countries. As tariffs increased, the cost of imported goods rose, leading to retaliatory measures from other nations and escalating trade tensions. This hindered economic recovery and growth, particularly during times like the Great Depression, as countries struggled to export their products and faced limited access to foreign markets. Ultimately, these tariffs contributed to economic isolation and weakened interdependence among European economies.
Why did Alexander Hamilton support the protective tariff?
Alexander Hamilton was Secretary of Treasury when the first tariff was proposed and passed. Hamilton argued that it was very important for the new US government to have steady sources of revenue in order to pay its bills and establish good credit with other nations. Tariffs were easily collected and not an obvious tax to most people. The idea of protecting fledgling US industries was not a major reason for the first tariffs but may have had some benefit.
What are the two types of tariffs?
special duty ad velorem duty compound duty
Why did slave states hate tariffs?
The slave states hated the tariffs more than other states because slaves could have tariffs on their lives. A slave that originally sold for 100 gold would sell for up to 150 with the tax.
Was Louisiana reaction to protective tariffs the same as that in other parts of the south?
yes, because all the south wanted slavery and the north didnt. -sydney
Was Louisiana's reaction to the protective tariffs the same as the other parts of the south?
yes, because all the south wanted slavery and the north didnt. -sydney
What is louisianas location relative to other states?
gay
Was Louisiana's reactions protective tariffs the same as that in other parts of the South?
yes, because all the south wanted slavery and the north didnt. -sydney
What was Alexander Hamilton's position on protective tariffs?
Alexander Hamilton favored protective tariffs because it was an essential part of his financial plan. By protecting America's infant domestic economy, he won the favor of the wealthy classes (merchants and manufacturers).
How did high protective tariffs negatively impact the European nations?
High protective tariffs negatively impacted European nations by stifling international trade and reducing the flow of goods between countries. As tariffs increased, the cost of imported goods rose, leading to retaliatory measures from other nations and escalating trade tensions. This hindered economic recovery and growth, particularly during times like the Great Depression, as countries struggled to export their products and faced limited access to foreign markets. Ultimately, these tariffs contributed to economic isolation and weakened interdependence among European economies.
How did Congress react to Hoover's cash crop tariffs?
They accepted them and added other tariffs to nonfarm goods
Why did southerners threaten tarriffs?
Southerners threatened tariffs primarily because they feared that protective tariffs would harm their economy, which relied heavily on agriculture and export of cotton. They believed that higher tariffs would raise the cost of imported goods and provoke retaliatory measures from other countries, negatively impacting their trade. Additionally, they saw tariffs as a means for the northern states to gain economic dominance at their expense, heightening tensions between the regions. This discontent contributed to the broader conflicts that led to the Civil War.
How did the compromise over trade regulations satisfy both northern and southern interest?
The compromise balanced the interest of northern states that wanted protective tariffs to support their industrial economy by allowing tariffs on some goods, while also appeasing southern states that relied on international trade by setting limits on those tariffs. This way, both regions were able to benefit economically without unduly harming each other's industries.
Why did Alexander Hamilton support the protective tariff?
Alexander Hamilton was Secretary of Treasury when the first tariff was proposed and passed. Hamilton argued that it was very important for the new US government to have steady sources of revenue in order to pay its bills and establish good credit with other nations. Tariffs were easily collected and not an obvious tax to most people. The idea of protecting fledgling US industries was not a major reason for the first tariffs but may have had some benefit.
What are the two types of tariffs?
special duty ad velorem duty compound duty
SWKGT Inflation Warning: How can Trump play the tariff card?
Other countries have high tariffs and the USA reciprocal tariffs are low
