The Walker Tariff was a set of tariff rates adopted by the United States in 1846. The Walker Tariff was enacted by the Democrats, and made substantial cuts in the high rates of the "Black Tariff" of 1842, enacted by the Whigs. It was based on a report by Secretary of the Treasury Robert J. Walker. The Walker Tariff reduced tariff rates from 32% to 25%; it coincided with Britain's repeal of the Corn Laws and led to an increase in trade. It was one of the lowest tariffs in American history.
Famous quotes containing the words walker and/or tariff:
“For my people lending their strength to the years: to the gone
years and the now years and the maybe years, washing ironing cooking scrubbing sewing mending hoeing plowing digging planting pruning patching dragging along never gaining never reaping never knowing and never understanding;”
—Margaret Abigail Walker (b. 1915)
“After so many historical illustrations of the evil effects of abandoning the policy of protection for that of a revenue tariff, we are again confronted by the suggestion that the principle of protection shall be eliminated from our tariff legislation. Have we not had enough of such experiments?”
—Benjamin Harrison (1833–1901)