State Papers on Nullification: Including the Public Acts of the Convention of the People of South Carolina, Assembled at Columbia, November 19, 1832 and March 11, 1833; The Proclamation of the President of the United States, and the Proceedings of the Sev

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ISBN 10: 0265181143 / ISBN 13: 9780265181140

Editore: Forgotten Books, 2018

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• Titolo: State Papers on Nullification: Including the Public Acts of the Convention of the People of South Carolina, Assembled at Columbia, November 19, 1832 and March 11, 1833; The Proclamation of the President of the United States, and the Proceedings of the Sev
• Editore: Forgotten Books
• Data di pubblicazione: 2018
• Lingua: Inglese
• ISBN 10: 0265181143
• ISBN 13: 9780265181140
• Rilegatura: HRD
• Condizione: New
• Peso: 753 grammi

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Excerpt from State Papers on Nullification: Including the Public Acts of the Convention of the People of South Carolina, Assembled at Columbia, November 19, 1832 and March 11, 1833; The Proclamation of the President of the United States, and the Proceedings of the Several State Legislatures, Which

Mentioned which required that the duties should be reduced in three years to 20 per cent., was repealed, and a broad founda ition thus laid for the permanent establishment of the protect ing system. This system has been still further extended and fortified by the several successive acts of 1820, 1824, and 1828, until by the passing of the act of 1832, (to take effect after the discharge of the public debt,) it has become incorporated into our political system, as the settled policy OF the country. We have not deemed it necessary, in tracing the origin and pro gress of this system, to go further back than the commercial restrictions which preceded the late war - for whatever theo retical Opinions may have been expressed by Alexander Hamil ton and others in' relation to it, at an earlier period, it cannot be denied that no duties were actually imposed beyond those deemed indispensable for the public exigencies, and that prior to the year 1816, no protection Whatever was actually extended to manufactures, beyond what.was strictly incidental to a sys tem for revenue. The discrimination between the protected and unprotected articles now contended for as the very corner stone of the protecting system, was so far from being established by that act, that the highest duties were actually imposed on the very articles now admitted duty free, while the foreign manu factures which came into competition with our domestic fabrics were subjected to a lower rate of duty. The truth then unques tionably is, that the protecting policy, according to the princi ples now contended for, was never introduced into this country until the period we have mentioned, when it crept insidiously into the legislation of Congress in the manner above described. This will be made abundantly manifest to every one who will take the pains to trace the progress Of the duties from 75 per cent., in 1790, up to 25 per cent., in 1816, 40 per cent., in 1824, and 50, 60, and even 100 per cent., in 1828 and 1832, and who will merely examine the manner in which these duties were adjusted in the various acts here referred to. As early as 1820, so soon indeed as the capitalists who had relied upon the powers of the Federal Government to enhance the profits of their in vestments by legislation, began to look forward to its eventful establishment as the settled policy of the country, they clearly perceived that an extension of the appropriations to Objects not.

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