Wednesday, September 22, 2010
Henry Clay of Kentucky , a leader in the house of Representitives , proposed a comprehensive method for advancing the nation's economic growth. His plan , which he called the American System consisted of three parts : 1) protective tariffs, 2) a national bank and, 3) internal improvements . Clay argued that protective tariffs would promote American manufacturing and also raise revenue with which to build a national transportation system of federally constucted roads and canals. A national bank would keep the system running smoothly by providing a national currency. The internal improvements were to be made by the states themselves.