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The Walker Tariff was a set of tariff rates adopted by the United States in 1846. Enacted by the Democrats, it made substantial cuts in the high rates of the "Black Tariff" of 1842, enacted by the Whigs. It was based on a report by Secretary of the Treasury Robert J. Walker. The Walker Tariff reduced tariff rates from 32% to 25%.
The Tariff of 1857 was a major tax reduction in the United States that amended the Walker Tariff of 1846 by lowering rates to between 15% and 24%. [ 1 ] [ 2 ] The Tariff of 1857 was developed in response to a federal budget surplus in the mid-1850s. [ 2 ]
The Walker Tariff actually increased trade with Britain and others and brought in more revenue to the federal treasury than the higher tariff. The average tariff on the Walker Tariff was about 25%. While protectionists in Pennsylvania and neighboring states were angered, the South achieved its goal of setting low tariff rates before the Civil War.
This is a list of United States tariff laws. 1789: Tariff of 1789 (Hamilton Tariff) 1790: ... Tariff of 1842; 1846: Walker tariff; 1857: Tariff of 1857; 1861: Morrill ...
The Walker Tariff reduction leads to a period of free trade until 1860. Republicans (and Pennsylvania Democrats) attack the low level of the tariff rates. [139] James D.B. DeBow establishes DeBow's Review, the leading Southern magazine, which becomes an ardent advocate of secession. DeBow warns against depending on the North economically. [140]
Robert James Walker (July 19, 1801 – November 11, 1869) was an American lawyer, economist and politician. An active member of the Democratic Party, he served as a member of the U.S. Senate from Mississippi from 1835 until 1845, as Secretary of the Treasury from 1845 to 1849 during the administration of President James K. Polk, and briefly as Territorial Governor of Kansas in 1857.
The returning president had previously talked about putting Walker in charge of a “missile defense shield” if he won the election. Critics mocked Walker’s new gig with reminders of his ...
South Carolina dealt with the tariff by adopting the Ordinance of Nullification, which declared both the Tariff of 1828 and the Tariff of 1832 null and void within state borders. Nullification was only the most recent in a series of state challenges to the authority of the federal government.