Legislative History
The Black Tariff was signed into law somewhat reluctantly by President John Tyler, following a year of disputes with the Whig leaders in Congress over the restoration of national banking and the government's land disbursement policies. For the previous year, Whig leaders in Congress had sent bills to Tyler coupling the tariff hike with a public land disbursement package insisted upon by Henry Clay, prompting a presidential veto.
In the summer of 1842 representatives from the northeastern manufacturing states began feeling electoral pressures for a tariff hike before the elections that fall and abandoned Clay's land disbursement program. The resulting bill contained the tariff hike alone that satisfied the manufacturers and was acceptable to Tyler, since it lacked the land disbursement provisions. The main beneficiary industry to receive protection under the tariff was iron. Import taxes on iron goods, both raw and manufactured, amounted to almost two thirds of their price overall and exceeded 100% on many items such as nails and hoop iron. The law also raised the percentage of dutiable goods from just over 50% of all imports to over 85% of all imports.
Read more about this topic: Tariff Of 1842
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