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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Congress wanted to help American manufacturers compete with British imported goods.
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Congress wanted to raise the prices of American-made products.
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Congress wanted to lower the prices of imported products from friendly countries.
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The stronger northern states wanted to hinder the South’s use of slavery.
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Detailed explanation-1: -The tariff sought to protect northern and western agricultural products from competition with foreign imports; however, the resulting tax on foreign goods would raise the cost of living in the South and would cut into the profits of New England’s industrialists.
Detailed explanation-2: -The Tariff of 1816 helped level the playing field for American businessmen. This tax made American and European manufactured goods comparable in price. By doing this, the United States government and businessmen hoped that the American consumers would buy domestic products before buying foreign items.
Detailed explanation-3: -Tariffs are a tax levied on imported goods and were the dominant source of the federal government’s revenue in the 19th century. Tariffs were also used for protectionist purposes, benefiting largely northern manufacturing businesses and effectively raising the costs to southern agricultural exporting industries.
Detailed explanation-4: -Tariffs have long been used to prop up homegrown industries by inducing citizens to buy goods produced domestically. Since the end of World War II, however, tariffs have largely fallen out of favor in developed economies because they often lead to reduced trade, higher prices for consumers, and retaliation from abroad.