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East Central South Dakota | The tariff history of the United States spans from 1789 to present. Tariffs have historically served a key role in the nation's foreign trade policy and as a source of federal income. Tariffs were the main source of all Federal revenue from 1790 to 1914.
After the Revolution, Britain and her colonies would buy only 10 percent of America's exports. The successful Revolution brought on a depression in the United States, as England closed her markets to American trade or raised her tariffs on our Agricultural products.
“Taxation without representation”—including tariffs without representation—was one of the principal drivers of the American Revolution.
Hamilton and Mercantilism. Many Americans embraced the ideas of Smith, holding that agriculture was the real producer of wealth and that commerce would enrich the nation if it were left free of government interference. Others believed the United States could best achieve economic independence by developing industries of her own. These were the two sides of a debate over what was then called political economy, with Thomas Jefferson and James Madison holding with Smith’s view that agriculture was the basic producer of wealth and that the proper policy for the American government was to find or open markets for American goods. On the other hand, Hamilton saw the proper role for the U.S. government in encouraging capital accumulation and economic development. As first secretary of the treasury, Hamilton made it a priority to achieve national economic independence. The best way to do this, Hamilton believed, was by restoring public credit and by encouraging manufacturing.
This fight is as old as the soil we are farming today. Tariff disputes 150-200 years ago led to war---does history repeat. My solution is don't try to predict the outcome, but prepare yourself for the results.
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- Well, so much for trying to be positive. - farmer4321 : 11/26/2018 17:42
- RE: Well, so much for trying to be positive. - alphacharlie : 11/26/2018 17:55
- RE: Well, so much for trying to be positive. - kts : 11/26/2018 17:57
- RE: Well, so much for trying to be positive. - IN555 : 11/26/2018 18:09
- RE: Well, so much for trying to be positive. - feelnrite : 11/26/2018 18:26
- RE: Well, so much for trying to be positive. - praire dog : 11/26/2018 18:50
- RE: Well, so much for trying to be positive. - workinonjunk : 11/26/2018 19:00
- RE: Well, so much for trying to be positive. - Buck S : 11/26/2018 19:18
- RE: Well, so much for trying to be positive. - cornstalk : 11/26/2018 19:25
- RE: Well, so much for trying to be positive. - Jon : 11/26/2018 19:38
- RE: Well, so much for trying to be positive. - Sheep Herder : 11/26/2018 20:08
- RE: Well, so much for trying to be positive. - buckeye : 11/26/2018 21:35
- RE: Well, so much for trying to be positive. - LongKC : 11/26/2018 21:46
- RE: Well, so much for trying to be positive. - PatCMO : 11/26/2018 23:45
- RE: Well, so much for trying to be positive. - wahlfarms : 11/27/2018 04:21
- RE: Well, so much for trying to be positive. - prttimefarmer : 11/27/2018 05:54
- RE: Well, looks like the chickens are coming home to roost. - farmer4321 : 11/27/2018 07:59
- RE: Well, so much for trying to be positive. - Cole Sibley : 11/27/2018 14:21
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Well, so much for trying to be positive.
