Word: valorem
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Dates: during 1880-1889
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...country before all others, the least interference of government consistent with our general welfare, and the need of concentration of industry. Tariffs are based on the productive capacity of a people, and serve to foster and protect them in their undertakings. Of the two duties, specific and ad valorem, the latter seems more just at first glance. But it is far otherwise. According to this, when prices are high, duties are also high, and there is little need of protection, and when prices are low duties are low, and then is the time when we should have high duties...
...made, and this fact gave rise to the preparation of the Morrill bill in 1861. The object of the bill was to cause duties to return to what they were in 1846, and it was intended to be protective. Its distinguishing feature was the substitution of specific for ad valorem duties. The chief changes in the taxation were upon wool and pig iron. For the first time in the history of tariff taxation "compensating duties" were introduced. The general effect of this bill was to raise duties above those fixed by the bill...
...Republican party at that time. All the tariffs after this were the results of party feeling. The tariff of 1833 was a compromise act between the two parties, and was arranged by Clay and Calhoun. Its purpose was to bring all duties to twenty per cent. ad valorem. This is probably the poorest tariff passed by any nation. The Congress which came in in 1842 put in a new tariff, entirely different from that of 1833. The Whigs being then in power, passed a bill for the levying of very high duties, and the bill was prompted through party feeling...
...injure Turkey's influence in the English cabinet, or even pacify the Boers; and W-m Ang-ll H-vey of the Transcriber was very much averse to any measure that might increase the duty upon Hamburg edgings and corsets. "Let 'em edge!" declared Br-wn-ng. "The ad valorem duty on books has been removed, and one can write...