American System (apr 1, 1816 – apr 1, 1830)
Who: Henry Clay (KY), Madison
What: 1. New national bank 2. Tariff on imported goods because Great Britain is flooding our markets. 3. Federal financing of roads and canals. Madison vetoes $ for roads and canals, but other two become law.
Why: Government sponsored economic development, established new industries, reduce dependence on foreign made goods.
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