Panics and tariffs

Panic of 1819

financial crisis - resentment of the second BUS

panic of 1837

depression under Martin Van Buren - Recession

Panic of 1873

global depression (collapse from railroad investment) - strikes, unemployment

Panic of 1893

four year depression - populist demands silver coinage

Panic of 1907

Near banking system collapse - federal reserve system

wall Street crash of 1929

financial collapse - Great depression, new deal

Tariff of 1816

protective tariff - supported North, opposed south

Tariff of abominations 1828

high duties on imports - nullification crisis

compromise tariff of 1833

lowered tariffs because of the nullification crisis - short term peace

morrill tariff 1861

fund civil war - return to high tariffs

McKinley tariff 1890

raised rates to 50% - angered farmers and consumers

Wilson Gorman tariff 1894

2% income tax on the rich - struck down

underwood tariff 1913

first modern income tax - changed federal revenue from trade tax to income tax

smoot-hawley tariff 1930

high tariffs during the great depression - global economic collapse