| The United States Bank of 1816 a Southern measure. |
The United States Bank of 1816 was thus a Southern measure, and Calhoun was its chief author. It was in principle a great national measure, and its creation by Congress is strong evidence of the great growth in national opinion and sentiment throughout the country, away from the national indifference of the Jeffersonian metapolitics of 1800.
| The Tariff of 1816. |
A review of the Tariff Act of 1816 will bring us to the same conclusions concerning the great nationalizing influence of the War.
The rate of duty upon the principal articles of imported goods was, before the War, twelve and one-half per centum ad valorem. From a rate of five per centum upon these articles, imposed by the first Customs Act, that of July, 1789, the duty had been increased by about a dozen acts, passed by both Federal and Republican Congresses, until, in 1812, it had reached the above-mentioned per centum. Twelve and one-half per centum was, as a fact, nothing more than a revenue duty, and was intended for nothing more by the party in power at that date.
At the outbreak of the War double duties were imposed by the Act of July 1st, 1812, as a war measure, that is, as a measure for obtaining additional revenue for the prosecution of the War. It was not intended as a measure for the protection of manufacturers. This Act was to expire in one year, at the farthest, after the conclusion of peace with England.
The ratifications of the Treaty of Ghent were exchanged on February 17th, 1815. At the meeting of Congress, in December, 1815, the war duties were, therefore, still in force, but the Act establishing them would expire by its own limitation in less than three months. This Congress was obliged, therefore, to deal with the tariff anew.
| The Bill framed by the Committee on Ways and Means. |