Four Presidential Tickets in the Field.--Animated Canvass.--The
Long Struggle over.--The South defeated.--Election of Lincoln.--
Political Revolution of 1860 complete.
CHAPTER IX.
The Tariff Question in its Relation to the Political Revolution of
1860.--A Century's Experience as to Best Mode of levying Duties.--
Original Course of Federal Government in Regard to Revenue.--First
Tariff Act.--The Objects defined in a Preamble.--Constitutional
Power to adopt Protective Measure.--Character of Early Discussions.
--The Illustrious Men who participated.--Mr. Madison the Leader.--
The War Tariff of 1812.--Its High Duties.--The Tariff of 1816.--
Interesting Debate upon its Provisions.--Clay, Webster, and Calhoun
take part.--Business Depression throughout the Country.--Continues
until the Enactment of the Tariff of 1824.--Protective Character
of that Tariff.--Still Higher Duties levied by the Tariff of 1828.
--Southern Resistance to the Protective Principle.--Mr. Calhoun
leads the Nullification Movement in South Carolina.--Compromise
effected on the Tariff Question.--Financial Depression follows.--
Panic of 1837.--Protective Tariff passed in 1842.--Free-trade
Principles triumph with the Election of President Polk.--Tariff of
1846.--Prosperous Condition of the Country.--Differences of Opinion
as to the Causes.--Surplus Revenue.--Plethoric Condition of the
Treasury.--Enactment of the Tariff of 1857.--Both Parties support
it in Congress.--Duties lower than at Any Time since the War of
1812.--Panic of 1857.--Dispute as to its causes.--Protective and
Free-trade Theories as presented by their Advocates.--Connection
of the Tariff with the Election of Mr. Lincoln to the Presidency.
--General Review.
CHAPTER X.
Presidential Election of 1860.--The Electoral and Popular Vote.--
Wide Divergence between the Two.--Mr. Lincoln has a Large Majority
of Electors.--In a Minority of 1,000,000 on Popular Vote.--Beginning
of Secession.--Rash Course of South Carolina.--Reluctance on the
Part of Many Southern States.--Unfortunate Meeting of South-Carolina
Legislature.--Hasty Action of South-Carolina Convention.--The Word
"Ordinance."--Meeting of Southern Senators in Washington to promote
Secession.--Unwillingness in the South to submit the Question to
Popular Vote.--Georgia not eager to Secede.--Action of Other States.
--Meeting of Congress in December, 1860.--Position of Mr. Buchanan.
--His Attachment to the Union as a Pennsylvanian.--Sinister
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