American System (economic Plan)
The American System, originally called "The American Way", was an economic plan that played a prominent role in American policy during the first half of the 19th century. Rooted in the "American School" ideas of Alexander Hamilton, the plan "consisted of three mutually reinforcing parts: a tariff to protect and promote American industry; a national bank to foster commerce; and federal subsidies for roads, canals, and other 'internal improvements' to develop profitable markets for agriculture." Congressman Henry Clay was the plan's foremost proponent and the first to refer to it as the “American System”.
Read more about American System (economic Plan): History, Main Points, Annual Message of 1815 (Seven Points)
Famous quotes containing the words american and/or system:
“Being American is to eat a lot of beef steak, and boy, we’ve got a lot more beef steak than any other country, and that’s why you ought to be glad you’re an American. And people have started looking at these big hunks of bloody meat on their plates, you know, and wondering what on earth they think they’re doing.”
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