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Henry Clay's American System: the future of America
What is the American System?
The American System...
- Institutes the 1st protective tariff (the Tariff of 1816). This is for the protection of American manufacturing. It places a 20-25% tax on imports, therefore causing a flourish in United States manufacturing and overall resulting in a higher economic standing.
- The revenues received from the protective tariff above, will go straight to the creating of roads and canals in America. Through these, manufactured goods and materials will be easily transit-able across the nation.
- A strong banking system. This provides Americans with easy and abundant credit.