State Papers On Nullification Including The Public Acts Of The Convention Of The People Of South C

Author : UNKNOWN. AUTHOR
Publisher : Forgotten Books
ISBN 13 : 9781331334507
Total Pages : 394 pages
Book Rating : 4.3/5 (345 download)

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Download or read book State Papers on Nullification written by UNKNOWN. AUTHOR and published by Forgotten Books. This book was released on 2015-07-13 with total page 394 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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Legislatures, Which Mentioned which required that the duties should be reduced in three years to 20 per cent., was repealed, and a broad founda tion thus laid for the permanent establishment of the protect ing system.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 1882, (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 ungues 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 7% 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 1882, 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 ih 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. About the Publisher Forgotten Books publishes hundreds of thousands of rare and classic books. Find more at www.forgottenbooks.com This book is a reproduction of an important historical work. Forgotten Books uses state-of-the-art technology to digitally reconstruct the work, preserving the original format whilst repairing imperfections present in the aged copy. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in our edition. We do, however, repair the vast majority of imperfections successfully; any imperfections that remain are intentionally left to preserve the state of such historical works.