MAKING OF A NEW NATION 1776 1800
THOMAS JEFFERSON
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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It required the first minimum wage in the U.S
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It resulted in a near halt of all imports and exports.
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It called for an increased tariff on all imported goods.
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It called for an increased tariff on all exported goods.
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Detailed explanation-1: -Why was the The Embargo Act of 1807 despised by business and industry? It required the first minimum wage in the U.S.
Detailed explanation-2: -The embargo was an unpopular and costly failure. It hurt the American economy far more than the British or French, and resulted in widespread smuggling. Exports fell from $108 million in 1807 to just $22 million in 1808. Farm prices fell sharply.
Detailed explanation-3: -The Embargo Act of 1807 was an attempt by President Thomas Jefferson and the U.S. Congress to prohibit American ships from trading in foreign ports. It was intended to punish Britain and France for interfering with American trade while the two major European powers were at war with each other.
Detailed explanation-4: -There were four primary reasons the Embargo Act of 1807 failed: a lack of political willpower, unpopularity in New England states, intricate smuggling operations, and the overall damage to the American economy.