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The American System and the Economic Development of the United States. What was the American System? 1. An economic and cultural policy package in the post-War of 1812 United States
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The American System and the Economic Development of the United States
What was the American System? 1. An economic and cultural policy package in the post-War of 1812 United States 2. Political platform of the Democratic Republicans in the 1810s and 1820s and the Whig Party in the 1830s and 1840s
Henry Clay (1777-1852) and the American System Coined by Henry Clay (March 31, 1824): “a genuine American system” Protection of domestic manufactures through protective tariffs
The American System – Continued….. Policies a. Protective Tariffs b. Internal Improvements (roads and canals) c. National Bank (The First Bank of the United States: 1791-1811; The Second Bank of the United States: 1816-1836) d. Public Land Policies for Revenue
The American System Protective Tariffs Internal Improvements: Roads and Canals Public Land Policies National Bank
Philosophy…. Should the U.S. Government intervene in the Economy? Approach: Initiatives of the federal government in the economy Economic purpose: Creation of domestic market a. South: cotton b. West: grains and livestock c. Northeast: manufacturing
Examples of the American System a. Protective Tariffs Acts of 1828 and 1832 b. Cumberland (National) Road (1811- 1839) c. The Second Bank of the United States (1816-1836)