Part II: Tariff and Taxation

PART III TARIFF AND TAXATION CHAPTER 14 AMERICAN TARIFF HISTORY § 1. Political and trade boundaries. § 2. Prevalence of protective tariffs. § 3. Specific and ad valorem rates. § 4. Some technical features of the tariff. § 5. The tariff, 1789-1815. § 6. The tariff, 18161845. § 7. The tariff, 1846-1860. § 8. The tariff, 1861-1871. § 9. The tariff, 1872-1889. § 10'. The tariff, 1890-1896. § 11. The Dingley tariff, 1897-1909. § 12. Sentiment favoring lower rates, 1908. § 13. The Payne-Aldrich tariff, 1909-1913. § 14. The Underwood tariff, 1913. § 15. Operation of the tariff, 1913-1921. § 16. The return to high tariff, 1921. § 1. Political and trade boundaries. By international trade is meant, in general, trade between persons resident in different countries; comparatively rare is the case in which one of the two parties to a trade is a whole nation acting through its government as a unit {e.g., in the purchase of munitions of war in neutral countries). Outside of a communistic group such as the family, trade is a necessary accompaniment of division of labor. As territorial division of labor began between neighboring tribes,1 international trade was the earliest kind of regular interchange of goods. Indeed, the very word "market" meant originally the boundary between tribes. Thus, from primitive times when wandering savages gave bits of flint or copper in return for salt or fish, individuals have sought to adjust their goods to their desires through trade with men of other political groups. With the progress of the world in the means of communication and transportation, international trade has widened in extent and grown in volume.