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| Author: | Martin, T. L. |
| Title: | Protection or Free Trade: An Analysis of the Ideas of Henry George on International Commerce and Wages |
| Journal: | American Journal of Economics and Sociology
2001 : VOL. 60:5, p. 121-136 |
| Index terms: | TRADE FREE TRADE ECONOMICS |
| Language: | eng |
| Abstract: | The protective tariff became a divisive national issue in the United States with the nullification movement in South Carolina in the early 1830s. Fifty years later, when import competition increased following the recession of 1873-1878, reform of the tariff again became a critical national issue. As imports increased in the early 1880s, so did the political pressure to provide more protection from the growing import competition. At the same time, the opposite pressure to reduce tariffs was created by a persistent federal budget surplus. Reduction of revenues through lower tariffs became the Democratic solution, while the Republicans favored increased spending. This conflict of interests set the stage for the rise of the tariff issue to primary importance in national politics. |
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