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Tariff of 1816-

  • first substantial protective tariff
  • woolens and cottons, iron, leather, hats, paper and sugar
  • made European goods more expensive so consumers would be encouraged to buy American goods

Main Points: Support for tariff

Henry Clay

Establishing a protective tariff would protect the a nation's business from foreign competition.

The American System

A program of national economic development that was identified with Henry Clay, Speaker of the House.

Main Points: Establishing a national bank

John C Calhon

Establishing a national bank would unify the country and promote a single currency, making trade easier and issue credit from the government

John Quincy Adams

Second Bank of the United States

  • national bank chartered by Congress in 1816 with a lot of power over currency and credit
  • provided large-scale financing

Historical Question

Main Points: Funding canals and roads

Improvement of country's infrastructure, poor roads made transportation slow and costly

How did the American System shape America?

System of internal improvements would knit the nation together and be financed by the tariff and land sale revenues

How did the American System shape America?

Cumberland Road

  • first major improved highway in the US that was funded by the federal government
  • was the gateway to the West

National Road

Thesis

The American System shaped America by introducing three main points for the benefit of the economic development; supporting tariff to generate revenue, establishing a national bank and funding roads and canals.

Primary Source

That system has had a wonderful success. It has more than realized all the hopes of its founders. It has completely falsified all the predictions of its opponents. It has increased the wealth, and power, and population of the nation. It has diminished the price of articles of consumption and has placed them within the reach of a far greater number of our people than could have found means to command them if they had been manufactured abroad instead of at home.

Secondary Source

The American system

-Henry Clay, regarding the success of the American System in a speech given in Cincinnati in 1830

The centerpiece of Clay’s statecraft was an integrated economic program called ‘the American System.’ This envisioned a protective tariff, a national bank jointly owned by private stockholders and the federal government, and federal subsidies for transportation projects (‘internal improvements’). Public lands in the West were to be sold rather than given away to homesteaders so the proceeds could be used for education and internal improvements. The program was intended to promote economic development and diversification, reduce dependence on imports, and tie together the different sections of the country.

-History.com

http://www.history.com/topics/henry-clay

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