jan 1, 1816 - The American System

Description:

An economic plan created by Henry Clay, John C. Calhoun and John Quincy Adams.
1.Support for a high tariff to protect American industries and generate revenue for the federal government
2.Maintenance of high public land prices to generate federal revenue
3.Preservation of the Bank of the United States to stabilize the currency and rein in risky state and local banks
4.Development of a system of internal improvements (such as roads and canals) which would knit the nation together and be financed by the tariff and land sales

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