American System (Henry Clay Program)
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 (Henry Clay Program): History, Main Points, Annual Message of 1815 (Seven Points)
Famous quotes containing the words american, system and/or clay:
“Anglo-Saxon civilization has taught the individual to protect his own rights; American civilization will teach him to respect the rights of others.”
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“And here the precious dust is layd;
Whose purely temper’d Clay was made
So fine, that it the guest betray’d.
Else the soule grew so fast within,
It broke the outward shell of sinne,
And so was hatch’d a Cherubin.”
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