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Customs duties

Civil War

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Civil War Pre-Civil War (Chapter 20) Rich man?s war ? the rich could pay their way out of conscription Morrill Tariff raised the tariff 5-10% Treasury prints money, causes massive inflation North - $1.00 became 39 cents South had 9000% inflation Sale of bonds became very important ? North raised $2.6 Billion Precursor to today?s Federal Reserve system North had an economic boom due to suppliers making money People making low quality items and skimming the profit Bountiful harvest in the north (good crops) Oil discovered in Pennsylvania Women enlisted in the armies posing as men Women in the medical field Dr. Elizabeth Blackwell, 1st Female M.D. Clara Barton, established Red Cross Dorothea Dix, famous nurse Before the war, the South held 20% of U.S. wealth; after the war, 12%

Tariffs (through 1846) and Politics in the 1840s

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Tariffs (through 1846) and Politics in the 1840s Tariff Rates (1816-1846) 1816 (25%)- 1st truly protective tariff in history of country, part of Clay’s American System 1828 (45-50%)- Tariff of Abominations, election trick pushed through by Jackson supporters in Congress to blame John Quincy Adams for the high rate, causes the nullification crisis 1832 (35-40%)- 1st compromise tariff to settle nullification crisis, South still not satisfied 1833 (25%)- Henry Clay’s famous compromise to defuse the nullification crisis, Force Bill/Bloody Bill attached to the passage of this tariff 1842 (32%)- passed under Tyler administration, actually favors south because rate kept relatively low even though there were calls for a much higher rate
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