598:
439:
128:
The bill made moderate reductions in many tariff rates. As Walker had predicted, trade increased substantially, and net revenue collected also increased, from $ 30 million annually under the Black Tariff in 1845 to almost $ 45 million annually by 1850. It also improved relations with
Britain that
161:
The tariff act of 1842 had a significant impact on railroad building. The duty of $ 17/ton of hammered bar iron and $ 25/ton of rolled bar iron raised costs by 50 to 80%. The Walker tariff of 1846 reduced the duty to 30% and set off a railroad building boom in the 1850s.
97:. Walker urged its adoption to increase commerce between the US and Britain. He also predicted that a reduction in tariff rates would stimulate trade, including imports. The result, asserted Walker, would be a net increase in customs revenue, despite the reduced rates.
1107:
1037:
103:
The Walker Tariff produced the nation's first standardized tariff: rather than setting fixed rates for specific items on a case-by-case basis, it established general schedules into which all goods could be classified, subject to defined
1082:
92:
Polk declared that reduction of the "Black Tariff" would be the first of the "four great measures" that would define his administration. He directed Walker to work out the details. In 1846, Polk delivered Walker's tariff proposal to
338:
962:
644:
967:
987:
917:
977:
341:
1052:
361:
349:
158:
The 1861 Morril Tariff raised the effective rate collected on dutiable imports by approximately 70%. Customs revenue from tariffs totaled $ 345 million from 1861 through 1865.
1327:
100:
Congress, then controlled by
Democrats, acted quickly on Walker's recommendations. Southern Democrats, who had little industry in their states, were especially supportive.
1042:
505:
1332:
902:
892:
937:
41:
1022:
972:
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1007:
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947:
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353:
907:
526:
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75:
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316:
295:
49:
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1117:
997:
1281:
1102:
1067:
635:
521:
236:
James, Scott C., and David A. Lake. "The second face of hegemony: Britain's repeal of the Corn Laws and the
American Walker Tariff of 1846."
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1322:
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89:
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83:
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702:
500:
460:
428:
264:
Proceedings. Annual
Conference on Taxation and Minutes of the Annual Meeting of the National Tax Association
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1017:
812:
117:
58:
The Walker Tariff reduced tariff rates from 32% to 25%. Coinciding with
Britain's repeal of the
188:
1266:
613:
241:
470:
180:
52:
1211:
480:
388:
137:
136:
It was passed along with a series of financial reforms proposed by Walker including the
62:, it led to an increase in trade and was one of the lowest tariffs in American history.
1206:
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1170:
1160:
1155:
1150:
1145:
1140:
1135:
587:
152:
145:
45:
246:
Rowe, Christopher. "American society through the prism of the Walker Tariff of 1846."
1316:
1301:
465:
304:
181:
553:
262:
Woodward, G. Thomas. "Revenue
Response from a Tax Cut: The Walker Tariff of 1846."
109:
1221:
559:
108:
rates. The bill reduced rates across the board on most major import items save
580:
423:
418:
141:
105:
79:
71:
140:
of 1846. The 1846 tariff rates initiated a fourteen-year period of relative
17:
1097:
59:
253:
383:
113:
438:
37:
273:
617:
277:
48:" of 1842, enacted by the Whigs. It was based on a report by
40:
rates adopted by the United States in 1846. Enacted by the
144:
by nineteenth century standards lasting until the high
155:, which used it as a base and reduced rates further.
44:, it made substantial cuts in the high rates of the "
1126:
651:
540:
514:
446:
376:
506:List of federal judges appointed by James K. Polk
151:The Walker Tariff remained in effect until the
629:
289:
8:
342:Speaker of the U.S. House of Representatives
202:Murphy, Ared Maurice (JuneâSeptember 1925).
1328:United States federal taxation legislation
645:United States federal taxation legislation
636:
622:
614:
296:
282:
274:
527:President James K. Polk Home & Museum
27:Historical United States tariff reduction
409:James K. Polk 1844 presidential campaign
404:1844 United States presidential election
399:1840 United States presidential election
183:A financial history of the United States
1333:United States federal trade legislation
171:
522:President James K. Polk Historic Site
7:
414:1844 Democratic National Convention
394:1840 Democratic National Convention
256:Tariff History of the United States
532:List of memorials to James K. Polk
204:"The Big Four Railroad in Indiana"
25:
1118:2021 (Infrastructure, PL 117â58)
597:
596:
437:
320:President of the United States
1:
456:Inauguration of James K. Polk
86:who advocated a high tariff.
1108:2021 (Defense Authorization)
1338:Presidency of James K. Polk
1113:2021 (American Rescue Plan)
491:Treaty of Guadalupe Hidalgo
208:Indiana Magazine of History
1354:
238:International Organization
1323:1846 in the United States
575:
435:
311:
76:elected President in 1844
50:Secretary of the Treasury
501:Rivers and Harbors Bill
461:Oregon boundary dispute
429:Tennessee State Capitol
187:. Vol. 3. p.
179:Markham, Jerry (2001).
131:Oregon boundary dispute
1242:1922: FordneyâMcCumber
486:All of Mexico Movement
1103:2020 (Appropriations)
1093:2020 (Families First)
1083:2018 (Appropriations)
331:Governor of Tennessee
250:40.2 (2020): 180â197.
1166:1828: "Abominations"
566:William Hawkins Polk
548:Sarah Childress Polk
476:MexicanâAmerican War
129:had soured over the
1227:1909: PayneâAldrich
1217:1894: WilsonâGorman
362:U.S. Representative
350:U.S. Representative
240:43.1 (1989): 1â29.
118:alcoholic beverages
1247:1930: SmootâHawley
1146:1791: Hamilton III
1310:
1309:
1151:1792: Hamilton IV
1141:1790: Hamilton II
1038:2010 (PL 111-312)
1033:2010 (PL 111â240)
611:
610:
266:Vol. 104. (2011)
16:(Redirected from
1345:
1302:2018/2019: Trump
1252:1934: Reciprocal
1176:1833: Compromise
1136:1789: Hamilton I
638:
631:
624:
615:
600:
599:
588:Zachary Taylor â
471:Texas annexation
441:
369:
357:
345:
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323:
298:
291:
284:
275:
254:Taussig, Frank.
248:Economic Affairs
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53:Robert J. Walker
21:
1353:
1352:
1348:
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1313:
1312:
1311:
1306:
1287:1988: Canada FT
1237:1921: Emergency
1232:1913: Underwood
1161:1824: Sectional
1122:
1008:2007 (Mortgage)
908:1983 (PL 98-76)
903:1983 (PL 98-67)
654:
647:
642:
612:
607:
571:
536:
510:
481:Thornton Affair
442:
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389:Specie Circular
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231:Further reading
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138:Warehousing Act
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214:(2 and 3): 112
194:
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153:Tariff of 1857
146:Morrill Tariff
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26:
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1207:1883: Mongrel
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1196:1861: Morrill
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1088:2019 (SECURE)
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968:2001 (EGTRRA)
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556:(grandfather)
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528:
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496:Walker tariff
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466:Oregon Treaty
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305:James K. Polk
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36:was a set of
35:
34:Walker Tariff
30:
19:
18:Walker Tariff
1186:1846: Walker
1185:
1156:1816: Dallas
1098:2020 (CARES)
595:
586:
581:â John Tyler
579:
554:Ezekiel Polk
515:Public image
495:
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247:
237:
218:December 25,
216:. Retrieved
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207:
197:
182:
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135:
127:
110:luxury goods
102:
99:
88:
69:
57:
46:Black Tariff
33:
31:
29:
1292:1993: NAFTA
1181:1842: Black
1073:2017 (TCJA)
1048:2012 (ATRA)
560:Samuel Polk
368:(1825â1833)
356:(1833â1839)
344:(1835â1839)
333:(1839â1841)
322:(1845â1849)
1317:Categories
1257:1948: GATT
1078:2018 (BBA)
1063:2015 (BBA)
1028:2010 (ACA)
768:1940 (2nd)
448:Presidency
424:Polk Place
419:Dark horse
166:References
142:free trade
112:, such as
106:ad valorem
80:Henry Clay
72:James Polk
1297:1994: WTO
928:1986 Code
828:1954 Code
758:1939 Code
568:(brother)
148:of 1861.
90:President
70:Democrat
60:Corn Laws
42:Democrats
653:Internal
602:Category
562:(father)
384:Bank War
95:Congress
66:Adoption
1267:1974/75
1128:Tariffs
898:Gas Tax
655:Revenue
114:tobacco
1018:Crisis
550:(wife)
541:Family
268:online
258:(1912)
242:online
124:Impact
38:tariff
918:COBRA
78:over
1282:1988
1277:1984
1272:1979
1262:1962
1203:1875
1200:1872
1191:1857
1171:1832
1068:2016
1058:2014
1053:2012
1043:2011
1023:2009
1013:2008
1003:2007
998:2006
993:2006
988:2005
983:2004
978:2003
973:2002
963:1998
958:1997
953:1996
948:1993
943:1990
938:1988
933:1987
923:1986
913:1984
893:1982
888:1981
883:1980
878:1978
873:1977
868:1976
863:1975
858:1971
853:1969
848:1968
843:1966
838:1964
833:1962
823:1954
818:1951
813:1950
808:1950
803:1948
798:1945
793:1944
788:1943
783:1943
778:1942
773:1941
763:1940
753:1937
748:1936
743:1935
738:1934
733:1932
728:1928
723:1926
718:1924
713:1921
708:1918
703:1917
698:1916
693:1914
688:1913
683:1909
678:1894
673:1864
668:1862
663:1861
377:Life
366:TNâ6
364:for
354:TNâ9
352:for
339:13th
317:11th
220:2022
116:and
84:Whig
82:, a
74:was
32:The
328:9th
212:xxi
189:220
1319::
210:.
206:.
133:.
120:.
55:.
637:e
630:t
623:v
297:e
290:t
283:v
270:.
222:.
191:.
20:)
Text is available under the Creative Commons Attribution-ShareAlike License. Additional terms may apply.