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:
“I ask you to join in a re-United States. We need to empower our people so they can take more responsibility for their own lives in a world that is ever smaller, where everyone counts.... We need a new spirit of community, a sense that we are all in this together, or the American Dream will continue to wither. Our destiny is bound up with the destiny of every other American.”
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