The Antebellum U.S. Iron Industry: Domestic Production and Foreign Competition
نویسندگان
چکیده
This paper presents new estimates of annual U.S. production of pig iron dating back to 1827. These estimates are used to assess the vulnerability of the antebellum iron industry to foreign competition and the role of the tariff in fostering the industry’s early development. Domestic pig iron production is found to be highly sensitive to changes in import prices. Although import price fluctuations had a much greater impact on U.S. production than changes in import duties, the tariff permitted domestic output to be about one-third to one-half larger than it would have been without protection.
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