Tariff of 1792
Encyclopedia
The Tariff of 1792 was the third of Alexander Hamilton
's protective tariffs in the United States
(first was the Hamilton tariff
of 1789, second was the Tariff of 1790
). Hamilton had persuaded the United States Congress
to raise duties slightly in 1790, and he persuaded them to raise rates
again in 1792, although still not to his satisfaction. Protectionism
was one of the fulfillments of Hamilton's Report on Manufactures
.
Alexander Hamilton
Alexander Hamilton was a Founding Father, soldier, economist, political philosopher, one of America's first constitutional lawyers and the first United States Secretary of the Treasury...
's protective tariffs in the United States
United States
The United States of America is a federal constitutional republic comprising fifty states and a federal district...
(first was the Hamilton tariff
Hamilton tariff
The Hamilton Tariff was the second statute ever enacted by the new federal government of the United States by a vote of the first U.S. Congress. Most of the rates of the revenue tariff were between 5 and 10 percent, depending on the value of the item...
of 1789, second was the Tariff of 1790
Tariff of 1790
In 1790, Alexander Hamilton, the secretary of the treasury, calculated that the United States required $3 million a year for operating expenses as well as enough revenue to repay the estimated $75 million in foreign and domestic debt. Under the rates established by the Tariff of 1789, the...
). Hamilton had persuaded the United States Congress
United States Congress
The United States Congress is the bicameral legislature of the federal government of the United States, consisting of the Senate and the House of Representatives. The Congress meets in the United States Capitol in Washington, D.C....
to raise duties slightly in 1790, and he persuaded them to raise rates
Rates
Rates is a Portuguese parish and town located in the municipality of Póvoa de Varzim. In the census of 2001, it had a population of 2,539 inhabitants and a total area of 13.88 square kilometres.-History:...
again in 1792, although still not to his satisfaction. Protectionism
Protectionism
Protectionism is the economic policy of restraining trade between states through methods such as tariffs on imported goods, restrictive quotas, and a variety of other government regulations designed to allow "fair competition" between imports and goods and services produced domestically.This...
was one of the fulfillments of Hamilton's Report on Manufactures
Report on Manufactures
The Report on Manufactures is the third report, and magnum opus, of American Founding Father and 1st U.S. Treasury Secretary Alexander Hamilton...
.