When did the Morrill Tariff take effect?
The Morrill Tariff took effect one month after it was signed into law on the 2nd of March 1861. This date marked the final days of President James Buchanan's term as a Democrat.
Questions about Morrill Tariff
Short answers, pulled from the story.
Who drafted the Morrill Tariff bill and what advice did they receive?
Representative Justin Smith Morrill of Vermont drafted the bill with advice from economist Henry Charles Carey. The House Ways and Means Committee had previously blocked similar efforts during the 35th Congress of 1857, 1859.
How much did the Morrill Tariff increase effective rates collected on dutiable imports in its first year?
The tariff increased effective rates collected on dutiable imports by approximately 70% in its first year. Average American tariff rates had been around 17% overall between 1857 and 1860 before rising to about 26% overall or 36% on dutiable items only.
Why did the United States need the Morrill Tariff for the Civil War?
The United States needed $3 billion to pay for armies and fleets raised to fight the Civil War. Customs revenue from tariffs totaled $345 million from 1861 to 1865 which represented 43% of all federal tax revenue collected during those years.
How did Britain react to the Morrill Tariff policy?
The Morrill Tariff met intense hostility in Britain where free trade dominated public opinion. Southern diplomats sought British recognition for the Confederacy using this policy against them while public outcry erupted among many British politicians who viewed protective tariffs as immoral.