The confederate constitution tariffs and laffer relationship

Constitution, Tariffs, and the Laffer Relationship," Economic Inquiry 40 (),. ; Thornton and See also McGuire and Van Cott, "Confederate Constitution," . PDF | This article offers an example of a national constitution, that of the Confederate States of America, which effectively constrained its fiscal authorities to tax. In a May 10, article on ("Lincoln's Tariff War") I journals ("The Confederate Constitution, Tariffs, and the Laffer Relationship").

Article I, Section 8 allows for the collection of "taxes, duties, imposts and excises" but only "for revenue necessary" to finance the government and not to protect any business or industry from international competition.

Taussig was speaking of the U. The Republican Party would dominate national politics in America until World War I, and the average tariff rate would remain at about that level all during that time. Abraham Lincoln was a lifelong protectionist and owed his nomination at the Republican Party convention to the fact that he won the support of the Pennsylvania and New York delegations the two largest by convincing them that no other candidate was more devoted to protectionism than he was.

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And, as Richard Bensel wrote in Yankee Leviathan, the protectionist tariff was nothing less than the cornerstone of the Republican Party platform. Professors McGuire and Van Cott write of how "many longtime protectionists in the Northeast" argued that "low tariffs were responsible for the 'crisis' in financial markets and the ensuing depression" of the late s.

Since they purchased the big majority of their manufactured goods from Europe or the North, and since they were so export dependent, protectionism imposed a harshly disproportionate burden on the Southern states. There were some Southern protectionists and some Northern free traders, but still, the overwhelming majority of the protectionists came from the North, and free traders from the South.

Evidence Builds for DiLorenzo's Lincoln - LewRockwell

House of Representatives, under the influence of this Northern protectionist lobby, "actually passed the Morrill tariff in its —60 session, prior to the departure of southern congressman from the House of Representatives," write McGuire and Van Cott emphasis added. Moreover, the House vote of —64 was very lopsided in terms of Northern supporters and Southern opponents of the Morrill Tariff Congressman Justin Morrill was a steel manufacturer from Vermont.

The handwriting was on the wall for the South, and ultimately for the Confederacy, after the Panic of Northern newspapers that were associated with the Republican Party openly advocated protectionist tariffs as a tool of plunder directed at the Southern states. As the Daily Chicago Times editorialized on December 10, The South has furnished near three-fourths of the entire exports of the country.

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Gods, Generals, and Tariffs | Mises Institute

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