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On the question of the tariff, it may come as news to Professor DiLorenzo that the protective tariffs were first instituted by Jefferson and Madison, not by the Hamiltonian party. Hamilton tried to get the tariffs, but he was not successful. And the reason why, the protective tariffs first entered our system in the wake of Jefferson’s embargo, which put the New England shipping interests out of business. And so the first protective tariffs were put in, I think, under Madison’s administration, and supported by John C. Calhoun, who agreed that at that time it was owed to the New England people to give their infant industries protection because they had been put out of business by the embargo, and later by the War of 1812, conducted under Madison’s administration. (en) |
