American System

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American System

  1. 1.  National Bank Protective Tariff Improved Infrastructure
  2. 2.  2nd Bank of the U.S. chartered in 1816 for 20 years Promote single currency Easier trade
  3. 3.  20-25% tax on imported goods Protect nation from foreign competition Manufacturing would flourish Dallas Tariff in 1816  European goods more expensive
  4. 4.  Funded from protective tariff New ways of transportation Goods flowed in opposite directions Canals, railroads, and roads
  5. 5.  Supported by the Whig Party  Henry Clay and Daniel Webster Opposed by the Democratic Party  Andrew Jackson, Martin Van Buren, James K. Polk, Franklin Pierce, and James Buchanan  Unconstitutional
  6. 6.  First to call it the American System  Originally “The American Way” in Hamilton’s “American School” The West should support system  Urban factory workers would consume western foods The South should also support system  Ready cotton markets in the North.
  7. 7.  South never jumped on board  Had access to plenty of cotton markets Never adequately funded Improvements like Erie Canal and Cumberland Road Used again by Lincoln Administration

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