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Topic: Underwood Tariff


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In the News (Wed 10 Feb 10)

  
  Tariff - Wikipedia, the free encyclopedia
Tax, tariff and trade rules in modern times are usually set together because of their common impact on industrial policy, investment policy, and agricultural policy.
The opposition to all tariffs is part of the free trade principle; the World Trade Organization aims to reduce tariffs and to avoid countries discriminating between other countries when applying tariffs.
Historians and economists have always been perplexed, because every analysis of the real economic impact of tariffs has shown their effect to be rather small on the economy as a whole, of minor importance to the economies of different regions, and of substantial importance to only a handful of industries (especially wool and automobiles).
www.wikipedia.org /wiki/Tariff   (3975 words)

  
 Morrill tariff - Wikipedia, the free encyclopedia
The high rates of the Morrill Tariff inaugurated a period of heavy protectionism in the United States that was largely uninterupted until the reductions of the Underwood Tariff of 1913.
A de facto constitutional mandate that tariffs lie on the lower end of the Laffer relationship means that the Confederacy went beyond simply observing that a given tax revenue is obtainable with a "high" and "low" tax rate, a la Alexander Hamilton and others.
He contends that the tariff was a source of major irritation for the south, and also note that many northerners opposed secession for fear that it would undermine the Morrill Tariff's implementation and the protection they received from it.
en.wikipedia.org /wiki/Morrill_tariff   (3584 words)

  
 EH.Net Encyclopedia: The Fordney-McCumber Tariff of 1922
The rates of these tariffs rivaled the protectionist Payne-Aldrich Tariff of 1909, and were considerably higher than the Underwood-Simmons Tariff passed in 1913.
The Emergency Tariff bill easily passed through the Senate Finance Committee and was sent to the Senate floor on January 17, 1921 where it only took a month for final approval.
He declared that the farmer did not need tariff protection and that tariffs would not raise farm prices, as the farmer was now a net exporter of goods and depended on foreign markets to sell his goods.
eh.net /encyclopedia/article/Kaplan.Fordney   (3369 words)

  
 Encyclopedia: Tariff
Where tariff duties are imposed solely for revenue, an equivalent excise tax is imposed within the country, so as to put the domestic producer precisely on the footing of his foreign competitor; and tariffs so maintained are in complete conformity with the principle of free trade.
The tariff of 1828 was affected by some political manipulation, which caused it to contain objectionable provisions, and to be dubbed the tariff of abominations.
Efforts were made also to reduce the tariff duties, but these naturally came last: they met with strong opposition, and in the end they were almost completely frustrated, thus leaving as the basis of the tariff the rates which had been levied in the course of the war.
www.nationmaster.com /encyclopedia/Tariff   (1135 words)

  
 Alabama Hall of Fame: Oscar Wilder Underwood   (Site not responding. Last check: 2007-08-20)
As Democratic leader in both houses, expert on the tariff, presidential nominee and delegate to international conferences, he was universally respected as a man of principle.
Born in Kentucky, reared in Minnesota and educated in Virginia, Underwood started his law practice in Birmingham in 1884.
Underwood was twice placed in nomination for the presidency of the United States, at the Democratic conventions of 1912 and 1924.
www.archives.state.al.us /famous/o_under.html   (274 words)

  
 Buchanan on the history of US protectionism
Nearly every industrial tariff was first imposed as an infant-industry tariff under the promise that in a few years, when the industry had grown sufficiently to face foreign competition, it would be removed.
It is also important to note that the adverse effects of tariffs in 19th century America were more than offset by the economic activity that constituted the western expansion across the continent.
The Underwood tariff of 1913, passed early in the administration of President Woodrow Wilson, liberalized trade somewhat.
www.freetrade.org /new/buch1.html   (1797 words)

  
 Tariff Commission   (Site not responding. Last check: 2007-08-20)
Therefore, when the Tariff Board shall make its report in December on wool and cotton, I expect to submit to Congress recommendations, based on their report, for a revision of both schedules.
It might as well be understood now as later that if the Tariff Board is to be used as a pretext for delaying tariff revision downward, as the President is now using it, instead of expediting genuine and salutary tariff revision, its days will be few, for we will cut off its supplies.
Underwood and I did say that we would gladly receive information on the tariff from anybody possessing it; but we never did say and never will say that we, together with other members well informed on the subject, must wait until the President’s Board or any other board got ready to make recommendations.
history.osu.edu /Projects/1912/Tariff/tariffCommission.htm   (352 words)

  
 Underwood, Oscar Wilder. The Columbia Encyclopedia, Sixth Edition. 2001-05
In the U.S. House of Representatives (1895–96, 1897–1915) he introduced the Underwood Tariff Act of 1913.
The act drastically reduced tariff schedules and transferred many articles to the free list but was only in force briefly because of the outbreak (1914) of World War I. In the Senate (1915–27) he was a leading exponent of President Wilson’s foreign policy.
Underwood was a prominent contender for the Democratic presidential nomination in 1912 and 1924.
www.bartleby.com /65/e-/E-Underwoo.html   (159 words)

  
 Encyclopedia: Underwood tariff
United States tariff acts The Revenue Act or Wilson-Gorman tariff of 1894 slightly reduced the U.S. tariff rates from the numbers set in the 1890 McKinley tariff.
In September 1922 the Fordney-McCumber Tariff bill (named after Joseph Fordney, chair of the House Ways and Means Committee, and Porter McCumber, chair of the Senate Finance committee) was signed by President Warren Harding (Rothgeb, 2001, 30-32).
France raised its tariffs on automobiles from 45 percent to 100 percent, Spain raised tariffs on American goods by 40 percent, and Germany and Italy raised tariffs on wheat (Rothgeb, 2001, 32-33).
www.nationmaster.com /encyclopedia/Underwood-tariff   (497 words)

  
 PPI: Tariffs Are 1 Percent Of Total Tax Revenues
The wartime search for revenue left tariff rates higher, but had also created other permanent new revenue policies that reduced the relative importance of tariffs.) Brandeis, appearing as perhaps the first "consumer advocate" in American trade debates, argued that the tariff system was unfair to families and poor people.
Brandeis seems to have gotten a chilly reception, in particular from the committee chairman (a man named Nelson Dingley, from Maine, described by the modern Committee as "destitute of humor but soundly versed in finance.") His appearance nonetheless foreshadowed a Progressive-era tax revolution that is still decisive, at least in trade policy, today.
When Franklin Roosevelt came to office in 1933, he found tariff revenue still only 10 percent of government finances; by 1945 they were down to 1 percent, where they remain today.
www.ppionline.org /ppi_ci.cfm?contentID=253504&knlgAreaID=108&subsecID=127&FREM=Y&sid=21573&mid=14181   (590 words)

  
 The Twentieth Century Underwood Tariff on Diamonds, Pearls, and Precious Stones
By the new tariff this was raised to twenty per cent, and rough diamonds, which heretofore had been on the free list, were made to bear a duty of ten per cent.
The gem importers made a concerted effort to prevent the change in tariff, because they believed that the object of the Administration would be defeated rather than furthered by the changes.
However, the tariff was raised and the only recourse now open to legitimate dealers is to see, so far as possible, that no smuggling is done.
www.jjkent.com /articles/underwood-tariff-precious-stones.htm   (530 words)

  
 HarpWeek | Elections | Issues
The public debate over tariffs (federal duties on foreign imports) had existed since the early days of the republic, but reached a peak in the late-nineteenth and early-twentieth centuries as the United States became increasingly industrial, urban, and connected to world markets.
Trade protectionists argued that high tariff rates discouraged the importation of foreign goods, thereby allowing American industry to expand and prosper, the American economy to strengthen, and jobs to be created and maintained for Americans.
It lowered the overall tariff rate by only five percent (to 41%) and raised rates on crucial resources like coal and iron ore. Although not as substantial as Taft had hoped, it was the first successful attempt at tariff reform in 15 years.
elections.harpweek.com /issues-2.htm   (2409 words)

  
 Tariff of 1913
His immediate objective was to confront the perennial tariff question and he brought special attention to the matter by deciding to appear in person before Congress to make his appeal.
Wilson spoke only briefly, but made it clear that tariff reform was needed and that he would not be a party to a repeat of the embarrassment of the thwarted reform of 1894.
The new tariff act also provided for the reinstitution of a federal income tax as a means to compensate for anticipated lost revenue because of the reduction of tariff duties.
www.u-s-history.com /pages/h1053.html   (522 words)

  
 local news page
Carrying banners with the above inscriptions inscribed thereon, the residents of Fulton county fittingly expressed their sentiments against the proposed drastic tariff revision as proposed by the Underwood bill in the monster demonstration held in this city yesterday afternoon.
We favor the immediate revision downward of the existing and in some cases prohibitive tariff duty, insisting that material reductions be speedily made upon the necessaries of life.
The Underwood tariff measure as introduced in Congress proposes a drastic reduction in the existing rates of tariff duties on leather gloves.
www.leaderherald.com /millennium/19101919/protest.html   (862 words)

  
 United States History: The Gilded Age (1890) to World War I
Although pledged to a tariff for revenue only, Congress yielded to the desires of senators devoted to protecting the interests of large corporations or trusts by passing another high protective tariff.
On the other side were the so-called insurgents, later known as progressives, who denounced the high rates of the Payne-Aldrich tariff as a betrayal of the promises made in the Republican platform and criticized the administration for refusing to continue the reforms begun by Roosevelt.
Under Wilson's guidance and urging, Congress in 1913 passed the Underwood Tariff Act, which provided for a general decrease in the Payne-Aldrich tariff schedules and for an income tax to bring in sufficient revenue to compensate for any loss in national revenue occasioned by the lower tariff duties.
www.emayzine.com /lectures/Gilded~1.htm   (2121 words)

  
 [No title]   (Site not responding. Last check: 2007-08-20)
Upon recommendation of the Tariff Commission, President authorized to alter rates for products of individual foreign countries.
By 1951, average tariff rates were down to less than 15%.
Agreement among 28 nations to settle tariff rates among themselves by negotiation.
www.uscsumter.edu /~tpowers/hist112/tariffs2.html   (246 words)

  
 Underwood Tariff - Encyclopedia, History, Geography and Biography   (Site not responding. Last check: 2007-08-20)
Underwood Tariff - Encyclopedia, History, Geography and Biography
The Underwood Tariff, or the Tariff Act of 1913 reduced the basic United States tariff rates to 28%, well below the Payne-Aldrich Tariff Act of 1909.
This encyclopedia, history, geography and biography article about Underwood Tariff contains research on
www.arikah.net /encyclopedia/Underwood_tariff   (95 words)

  
 [No title]
Explain why tariffs may seem to be advantageous to a large country but why they are not.
What does this suggest concerning the tariff structure of a country.
Suggest three arguments for tariffs that although valid can better be achieved with subsidies.
www.ux1.eiu.edu /~cflwb/documents/intrntlecn/trdtst3.doc   (146 words)

  
 USA: colonial period -
Yet balancing the scales against these achievements was his acceptance of a tariff with protective schedules which outraged liberal opinion, his opposition to the entry of the state of Arizona into the Union because of her liberal Constitution, and his growing reliance on the ultra-conservative wing of his party.
Under his leadership, the new Congress proceeded to carry through a legislative program which, in scope and importance, was one of the most notable in American history.
"We must abolish everything that bears even the semblance of privilege." The Underwood tariff, signed on October 3, 1913, provided substantial reductions in the rates on important raw materials and foodstuffs, cotton and woolen goods, iron and steel, and other commodities, and removed the duties from more than a hundred other items.
odur.let.rug.nl /usa.990917/H/1963/ch6_p11.htm   (675 words)

  
 The Truth about Trade in History   (Site not responding. Last check: 2007-08-20)
What the Smoot-Hawley tariff did do was raise tariffs on particular import sensitive goods, such as Canadian agriculture, that were already on the tariff list and increase the amount of goods to which no tariffs were applied.
Maintaing low tariffs when the nations that are competitors/partners seems to show that the nation with the protective tariffs loses comparative position.
Tariffs are neither universally beneficial nor universally harmful.
www.freerepublic.com /focus/fr/1087105/posts   (5503 words)

  
 Our Fiscal Nonagenarian: The Income Tax Turns 90 (Copyright, Incorrect data type for operator or @Function: Time/Date ...
But the 1913 tax was different from the levy we've come to know and love (or resist and revile, as the case may be).
With rates ranging from 1 percent to 6 percent, it added a new, distinctly progressive element to the federal revenue system.
Because most revenue still came from tariff duties and a handful of excise taxes, the income tax provided a symbolic counterweight to those regressive revenue tools.
www.taxhistory.org /thp/readings.nsf/cf7c9c870b600b9585256df80075b9dd/086fb0e51b9a551485256e430076bccb?OpenDocument   (418 words)

  
 Books in Review: The Great Betrayal
For generations of perplexed schoolchildren, distinguishing between the Dingley Tariff (1897) and the Payne-Aldrich Tariff (1909) or between the Underwood Tariff (1913) and the Fordney-McCumber Tariff (1922) numbered among the fundamentals of civic literacy, not to mention the prerequisites for advancing to the next higher grade.
By fostering a robust manufacturing sector at home, it had created an immense middle class composed largely of traditional, God-fearing families in which Dad was the sole breadwinner and Mom stayed home to raise the kids.
Indeed, his insistence that a protective tariff will pave the way for moral and political revitalization is analogous to the fervor of populists a century ago who believed that the coinage of Free Silver would correct the inequalities produced as a byproduct of industrialization.
www.leaderu.com /ftissues/ft9808/reviews/bacevich.html   (1219 words)

  
 Why We Go to War - Woodrow Wilson
His first major victory came with passage of the Underwood Tariff, which reduced customs levies despite the bitter opposition of varied industrial interests.
To counterbalance the downward drift of tariff funds, the act levied a federal income tax, under authority of the then recently adopted 16th Amendment to the constitution.
The new tariff act was followed by a broad measure of currency reform--the Federal Reserve Act, signed Dec. 23, 1913.
faculty.virginia.edu /setear/courses/howweget/wilson.htm   (3017 words)

  
 Tariff Table
First protective tariff; Clay and Calhoun supported as part of American System; Southern cotton growers opposed; (Madison administration).
President received authority to negotiate tariff reductions up to 50 percent; aimed primarily at European Economic Community (later European Union); (Kennedy administration).
GATT talks aimed at tariff reduction, primarily with Western Europe; approximate 33 percent reductions; (L. Johnson administration).
www.u-s-history.com /pages/h963.html   (467 words)

  
 Cameron R. Hume ,Speeches, Remarks, Foreign relations, Foreign policy, United States South Africa Relations
Following decades of high tariffs, in 1913, the United States adopted the Underwood Tariff, which reduced our ad valorum tariff rates to the lowest level since our Civil War in the 1860s.
The Uruguay Round tariff cuts were thus similar to a $310 tax cut for an average household of four.
Similarly, the tariff cuts resulting from NAFTA were equivalent to a $210 tax cut for the same household.
usembassy.state.gov /southafrica/wwwham6p.html   (2114 words)

  
 week7lecture   (Site not responding. Last check: 2007-08-20)
The Underwood Tariff of 1913 was the first "scientific" tariff ever.
With the reduced tariff the government needed to offset lost revenue so in 1913 the 16th Amendment allowed for an Income Tax.
Cordell Hull amended the Underwood Tariff with a graduated tax that Hull set low but the Progressives raised it.
www.ccaurora.edu /his202/week7lecture.htm   (3554 words)

  
 Tariff reform. (from Woodrow Wilson) --  Britannica Student Encyclopedia
A tariff commission was established in 1916 to study tariffs and make recommendations.
The words tariff, duty, and customs are generally used interchangeably.
Although all tariffs raise money for the governments that impose them, tariffs may also be used to protect domestic industries.
www.britannica.com /ebi/article-210217?ct=   (781 words)

  
 Historic Documents - Major American Political Party Platforms
We have effected an adjustment of the tariff, adequate for revenue under peace conditions, and fair to the consumer and to the producer.
We reaffirm our belief in the doctrine of a tariff for the purpose of providing sufficient revenue for the operation of the government economically administered, and unreservedly endorse the Underwood tariff law as truly exemplifying that doctrine.
Until the recent demo tariff legislation it was hampered by unreasonable burdens of taxation.
federalistpatriot.us /histdocs/platforms/democratic/dem.916.html   (2668 words)

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