The American System

States depended on e/o when it comes to —

the economy

South produces

cotton

Cotton needed in North for

clothing

— produces farming/agriculture

West

— need food (meat/dairy)

All states

North — and — all the goods

manufactures, trades

North creates the — for the US

income

State relied heavily on each other, so created common — to connect them

currency

President — wanted to unite the Northern and Southern economies

James Madison

presented by Madison, supported by Calhoun and Clay

The American System

The American System

Northern manufacturing vs Southern agriculture

Industrial North produces — for farmers in West/South to buy

manufactured goods

Agricultural south and west produce most of the — needed in the north

grains, meat, and cotton

Henry Clay’s program for economic development

Second Bank of America, Protective Tariffs, Fed gov funding roads and canals

First Bank of the US expired in

1811

Second Bank of the US chartered in

1816

Print — ,money people could trust and handle gov —

paper money, funds

a tax on — that is intended to protect a nation’s business from —

imported goods, foreign competition

First protective tariff passed in 1816, — on most industrial goods

25%

National system of — and —

roads, canals

Funded by the fed gov - used — revenues

tariff

— constructed in 1812

Erie Canal

Connected the Erie lake to the

Hudson River

In effect, connected those to the

Atlantic Ocean

Costs were completely covered within — years of it being open due to trade success

12

— became the main and most successful port in the US

New York

Construction of the first — in America was completed in 1852

steam locomotive

This allowed states to —,—, —

communication, travel, and trade

Trains could travel over many —

terrains

Trains could travel in severe — condition

weather

States build —, users had to pay a toll to turn a pike to continue their journey

turnpikes

Fed go looked to build —, which would connect different regions by land

highways

— was constructed in 1811, connected Maryland to Illinois by 1838

National Road