oct 18, 1890 - McKinley Tariff Act (Oct 1890)
Description:
Boosted rates to highest peacetime level ever; passed by billion-dollar congress; William McKinley of Ohio sponsored tariff in House, tariff hurt farmers; Farmers had to buy manufactured goods from expensive protected industrialists, had to sell old equipment to competitive & unprotected markets; Bcuz ppl mad from tariff → republicans lose majority in Congressional elections of 1890Added to timeline:
Date:
oct 18, 1890
Now
~ 134 years ago