Daily Quiz for July 20, 2009

British woolens being "dumped" on the U.S. market. What became known as the Tariff of Abominations was originally intended to protect manufacturers in Massachusetts and Rhode Island from being undercut by cheaply priced British woolens. The final bill, however, placed tariffs on a wide range of items from molasses to iron. It protected New England manufacturers from foreign competition but forced them to pay more for raw goods.