Question

Do the principles Senator Morrill speaks about still apply to U.S. commerce and industry today?

Answer 1

Hon. Justin S. Morrill of Vermont gave a speech called "The Tariff Bill" in the Senate of the United States in 1872.

In this speech, the senator argues that free trade hurts American labourers by forcing them to compete with cheap imports from other countries. His view is called protectionism. It encouraged the establishment of tariffs in trade in order to protect national industries.

There is no clear answer as to whether this is the case for workers nowadays. It is clear that protectionism means that national industries do not have to compete with foreign imports. This can lead to higher wages for workers and more long-lasting industries. However, those who criticize this approach argue that industries might last longer, but they become less efficient by not having to compete with anyone. Innovation is often limited as well. Moreover, the consumers are impacted by having less options and more expensive products.