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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.
The first component of the American System
The second component of the American System
The third component of the American System