10-1 Flashcards
(10 cards)
Henry Clay
Congressman from KY and regional leader of the west. He created the American System. This would use money raised from tariffs to build roads, bridges and canals to connect the nation.
Daniel Webster
Congressman from MA and regional leader of the north who supported tariffs to protect American businesses from competition.
John C. Calhoun
Congressman from SC and regional leader of the south. He supported state’s rights and was against tariffs because it raise prices of goods.
dumping
Selling goods in another country at very low prices to make your competition go out of business. After that happens, you can raise prices and make more money.
capitalism
Economic system in which people put money, or capital, into a business or project in order to make a profit later on.
James Monroe (1817-1825)
The fifth President of the United States (1817-1825) during “The Era of Good Feelings.”
North
Part of the nation where most of the factories were being built. It supported tariffs to help American businesses compete with foreign competition.
South
Part of the nation that focused on agriculture by growing cash crops such as tobacco, rice, indigo and cotton. Slaves were used to work on plantations.
West
Part of the nation west of the Appalachian Mountains that wanted infrastructure to connect the nation so goods could move quicker.
American System
Economic program advanced by Henry Clay that included support for a national bank, high tariffs, and internal improvements like roads, bridges and canals.