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Questions and Answers
What were the three parts of the American System proposed by Henry Clay?
What were the three parts of the American System proposed by Henry Clay?
- Labor unions, Import taxes, Regional currencies
- Agricultural subsidies, Free trade, State-run banks
- Infrastructure, Protective Tariffs, National Bank (correct)
- Industrialization, Export restrictions, Centralized government
How would the infrastructure aspect of the American System benefit American goods?
How would the infrastructure aspect of the American System benefit American goods?
- It would have no impact on the transportation of goods
- It would lead to increased taxes on American goods
- It would make transportation of goods faster and cheaper (correct)
- It would primarily benefit foreign goods
What was the purpose of the second National Bank in the American System?
What was the purpose of the second National Bank in the American System?
- To encourage regional currencies and hinder trade
- To invest in foreign banks and industries
- To establish a single currency and facilitate trade (correct)
- To create a decentralized banking system
