The American System

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The American System by Mind Map: The American System

1. why needed

1.1. economic plan for the country

1.2. promote industry

1.3. foster commerce

1.4. protect federal government

1.5. stabilize currency

1.6. develop markets for agriculture

2. internal improvements

2.1. Led to increased quality and quantity of roads

2.2. Led to construction of canals for ease of transport

2.3. funded by money from tariffs

2.4. established toll roads and railroads for train transport

3. National Bank

3.1. created to stabilize national currency

3.2. helped the federal government to reign in risk state banks

3.3. The Second Bank of the United States approved in 1816

3.4. improved national and regional trading of goods and services

4. significance

4.1. knit the nation together through internal improvements

4.2. further connected economies of north and south to strengthen national prosperity

4.3. helped the American manufacturing economy become more competitive

5. tariffs

5.1. support for high tariff

5.2. generated revenue for federal government

5.3. encouraged purchase of American goods

5.4. high tax making European and imported goods more expensive

5.5. encouraged by the north but not the south and west because industrialization was focused in the north

6. Many Americans rejected the American System and felt there was no reason for it. These Americans were primarily located in the west and the south and felt as though the new tariff unfairly favored the interests of northeastern manufacturers. Many of the internal improvements were also focused on the north (because that is where most people were) which many westerners and southerners angry because they saw very little benefit for their taxes.

7. h