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Henry Clay's "American System," devised in the burst of nationalism that followed the War of 1812, remains one of the most historically significant examples of a government-sponsored program to harmonize and balance the nation's agriculture, commerce, and industry. This "System" consisted of three mutually reinforcing parts: a tariff to protect ...
Henry Clay Sr. (April 12, 1777 – June 29, 1852) was an American lawyer and statesman who represented Kentucky in both the U.S. Senate and House of Representatives. He was the seventh House speaker as well as the ninth secretary of state. He unsuccessfully ran for president in the 1824, 1832, and 1844 elections.
The fledgling Republican Party led by Abraham Lincoln, who called himself a "Henry Clay tariff Whig", strongly opposed free trade. Early in his political career, Lincoln was a member of the protectionist Whig Party and a supporter of Henry Clay. In 1847, he declared: "Give us a protective tariff, and we shall have the greatest nation on earth".
Senator Henry Clay, though an advocate of protection and a political rival of Jackson, piloted a compromise measure through Congress. Clay's 1833 compromise tariff specified that all duties more than 20% of the value of the goods imported were to be reduced by easy stages, so that by 1842, the duties on all articles would reach the level of the ...
The Market Revolution in the 19th century United States is a historical model that describes how the United States became a modern market-based economy. During the mid 19th century, technological innovation allowed for increased output, demographic expansion and access to global factor markets for labor, goods and capital.
Henry Clay advocated his three-point "American System", a philosophy that was responsible for the Tariff of 1816, the Second Bank of the United States, and a number of internal improvements. John C. Calhoun embodied the Southern position, having once favored Clay's tariffs and roads, but by 1824 was opposed to both.
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Henry Clay's American System supported the necessity for central institutions to "take an activist role in shaping and advancing the nation's economic development". [26] The bank thus fit well into Clay's worldview, and he took advantage of Biddle's manipulation in order to pass the renewal bill through Congress, despite expecting Jackson's ...