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History Essay

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Running head: TARIFF OF ABOMINATIONS Tariff of Abominations Institution Affiliation Date 1 TARIFF OF ABOMINATIONS 2 Tariff of Abominations On May 19, 1828, the Congress of United States passed a protective tariff that was meant to protect the industries in the northern region of United States of America (Bolt, 2017). The tariff went by the name tariff of abomination. It was formulated during the reign of John Quincy Adam and later implemented during the reign of Andrew Jackson. The main of the introduction of this tariff was to save the northern industries be setting a tax rate of 39% on about 92% of all imported goods. This made the general prices of the imported goods to relatively high compared to locally produced products (Bolt, 2017). The increased prices led to the decrease in demand for the imported goods to decrease while on the other hand, the demand for the products that were locally produced products increased at a great deal. The high tax on imported goods negatively affected the south both directly and indirectly. Talking about being directly affected, the south Calorina started buying products that they were not producing at very high prices. Indirectly, the south's primary market for their cotton was British which due to this tariff it had ceased to buy the cotton from the south. The primary reason why Britain stopped buying goods from the south was that they did not have funds to purchase the cotton. The cause of the adequacy of funds was mainly because ...
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