American History

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Paper Topic: American History Running Head : HENRY CLAY ‘S AMERICAN SYSTEM Henry Clay ‘s American System [Writer ‘s Name] [Name of Institution] Henry Clay ‘s American System As a response on the clashes in Congress around the problems of protective tariffs , which took place in the early 1820s , Henry Clay , a representative of the Republican Whig Party , who was known as the great pacificator and compromiser , offered an extensive plan on American unification and economic modernization , called the American System This strategic program was representing the ideas of federalism based on the developments of such famous political and economic theorists as Alexander Hamilton and Frederich List One of the main purposes of the American System ‘ was to boost American economy by implementing three crucial complex steps

Those included becoming the main link in national financial system , supporting local banking institutions , promoting a single national currency , giving so called sovereign credits (namely governmental credits as an alternative for credits from private banks and creating favorable financial environment for national trade and commerce The last step was improving national infrastructure at the expense of higher protective tariffs and incomes from land sales , in to facilitate business and trade

This way it was supposed to make imported goods more expensive , to encourage American people to buy mostly domestic products and protect national manufacturing , as well as to decrease the country ‘s dependence on imported goods , mostly from the Great Britain The second very important step was the initiative to establish such institution as National Bank , which would fulfill several significant functions

C : Government Printing Office PAGE PAGE 2 Henry Clay ‘s American System

First of all , it was offered to establish protective tariffs on all imported goods at the level of 20-25

Unfortunately , the American System ‘ could not find were enacted References Byrd , R

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The activities included modernization of the country ‘s transportation system

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