Over the course of March 30th-March 31st, legislation debated over the passing of the “American System”, a new form of federalism. The American System had been devised following The War of 1812. It remains one of the significant examples of the government’s attempts to stabilize and harmonize the nation’s agriculture, commerce, and industry.
Debate over the system began in February and continued for months.
The system would include the following motions:
Henry Clay, a Kentuckian, was one of the most influential men in Congress during his time. He was an advocate for the American System and had a strong belief that tariffs would protect American industry. He was one of the biggest defenders of the system. During session, he gave a forty-page address complete with diagrams that would span over the course of two to three days. While he was the leader of the Whig party, he continued to advocate for the enactment of the system. He’s one of the most well-known advancers of the system, alongside John C. Calhoun and John Quincy Adams
“The object of the bill under consideration is to create this home market, and to lay the foundations of a genuine American policy…” - Henry Clay
The American System was narrowly signed into law in May 1824. However, only portions of the system were actually enacted. While the Second Bank of America was rechartered and high tariffs managed, the country never really funded internal improvements.
~ Kelly Chen
Sources:
http://history.house.gov/Historical-Highlights/1800-1850/The-1824-%E2%80%9CAmerican-System%E2%80%9D-speech-by-Speaker-Henry-Clay-of-Kentucky/
http://www.u-s-history.com/pages/h278.html
http://history1800s.about.com/od/1800sglossary/g/americansysdef.htm
https://www.senate.gov/artandhistory/history/common/generic/Speeches_ClayAmericanSystem.htm
http://www.history.com/topics/henry-clay
Debate over the system began in February and continued for months.
The system would include the following motions:
- The support of a high tariff to protect American industries. By doing this, it would generate tax revenue for the federal government.
- The maintenance of high public land prices in order to generate federal revenue.
- The preservation of the Bank of the United States to stabilize the currency and rein in risky state and local banks.
- The 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 revenues.
(American System, United States History)
Henry Clay, a Kentuckian, was one of the most influential men in Congress during his time. He was an advocate for the American System and had a strong belief that tariffs would protect American industry. He was one of the biggest defenders of the system. During session, he gave a forty-page address complete with diagrams that would span over the course of two to three days. While he was the leader of the Whig party, he continued to advocate for the enactment of the system. He’s one of the most well-known advancers of the system, alongside John C. Calhoun and John Quincy Adams
“The object of the bill under consideration is to create this home market, and to lay the foundations of a genuine American policy…” - Henry Clay
The American System was narrowly signed into law in May 1824. However, only portions of the system were actually enacted. While the Second Bank of America was rechartered and high tariffs managed, the country never really funded internal improvements.
~ Kelly Chen
Sources:
http://history.house.gov/Historical-Highlights/1800-1850/The-1824-%E2%80%9CAmerican-System%E2%80%9D-speech-by-Speaker-Henry-Clay-of-Kentucky/
http://www.u-s-history.com/pages/h278.html
http://history1800s.about.com/od/1800sglossary/g/americansysdef.htm
https://www.senate.gov/artandhistory/history/common/generic/Speeches_ClayAmericanSystem.htm
http://www.history.com/topics/henry-clay