Presentation on theme: "The American System Maggie McKenna, Fiona Murphy, Riley Summer, Peter Mueller, and Kaitlyn Meinershagen."— Presentation transcript:
The American System Maggie McKenna, Fiona Murphy, Riley Summer, Peter Mueller, and Kaitlyn Meinershagen
Henry Clay Henry Clay was the foremost proponent of the American System. He believed that it would be the base of American Economics.
The American System: Called the “American Way”, it consisted of three mutually enforcing parts: A tariff to protect and promote American Industry. -They would create a small tax on imported goods. This would make American goods less expensive, therefore making the consumer choose these goods over another country’s goods. A national bank to foster commerce. - The Bank of the United States was intended to free the country from being dependent on foreign interests. It was seen as a resource for entrepreneurs to invest in the growth of the new nation. Federal subsidies to improve internal issues. -taxes that are paid to the government would be used to fix things like roads, canals, buildings, and railroads. All of these things would help improve our agricultural nation.
Supported by: John Quincy Adams -Completely supported the help of the federal government in projects like this to improve American life. -Believed it would bring northern factories and markets to the southerners within the country instead of having to import to foreign countries -Showed that the nation could be self sufficient and self-dependent. Congress -Found that it was a good way of supporting rising revenue in the time of economic crisis -Did what it wanted to do to deal with the economy without dealing directly
Opposed by: Southern plantation owners -It would take away from those who depended on the foreign trade -Specifically cotton planters were dependent on their export to foreign countries. Andrew Jackson and his supporters -Maysville Road -No federal funding for a road that was unconstitutional -The government should not interfere with the economics -Believed the federal government should spend the money on congress
Improvements in Transportation Improvements in transportation included an increase in turnpikes, canals, highways and railroads. This increase in transportation stimulated the economy by making both interstate and international trade much easier. More goods were being shipped to more locations, including Europe. This increase in trade also boosted foreign relations. Finally, most of the improvements in transportation occurred in the northern part of the country. It mainly unified and connected the northeastern states with the mid-western states. The new means of transportation were mainly for the transportation of goods, and the regions that needed these goods the most were the industrializing northern states. The plantation southern states didn’t have as big of a demand for trade as the northern states, so they tended to be left out.
Erie Canal The Erie Canal was a canal that was proposed in 1807, and underwent construction from 1817 to 1825. It was the first waterway to connect the eastern sea, New York, with the west, the Great Lakes. The Erie Canal greatly decreased the cost of shipping in the northeast and mid-west. This stimulated the economy and allowed for lower prices. The canal also impacted the state of New York very positively. The economy in New York was given a tremendous boost. Finally, the canal boosted foreign relations, as more products were being able to ship from further inland, trade significantly increased between the new nation of the United States, and the old world countries of Europe.
Baltimore and Ohio Railroad (B&O) – A steam railroad chartered in 1827 to connect Baltimore, Maryland to a point on the Ohio River. First common carrier railroad in the US. The railroad was built mainly as competition to the huge success that was the Erie Canal.
Chesapeake and Ohio Canal The Chesapeake and Ohio Canal was a canal that operated from 1831 to 1924 parallel to the Potomac River. The canal was mainly used to transport coal throughout the country. It also connected the north to the south.
Potomac Company The company that attempted to make the Potomac River navigable. The company built 5 different canals, the last of which was the Chesapeake and Ohio Canal.
Cumberland Road First major highway in the United States. About 620 miles, the Cumberland (or National) road connected the Potomac River to the Ohio River. It connected the northeast states to the Midwest states.