National Bank Protective Tariff Improved Infrastructure
2nd Bank of the U.S. chartered in 1816 for 20 years Promote single currency Easier trade
20-25% tax on imported goods Protect nation from foreign competition Manufacturing would flourish Dallas Tariff in 1816 European goods more expensive
Funded from protective tariff New ways of transportation Goods flowed in opposite directions Canals, railroads, and roads
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
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.
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