Universal manhood suffrage was not a component of the American System.
Further Explanations:
The “American system” was a national monetary plan presented by Senator “Henry Clay” of Kentucky. The plan was supported and endorsed by the Whig party in the 19th century. It was based on protective tariff, demanding a national bank owned by private shareholders and the central administration.
The plan comprised of three significant components namely:
i. Pass high tariffs on imports- Passing high tariffs on the imports will increase the price of the imported goods, which will automatically decrease their demand. It will help in establishing the stability of the domestic market.
ii. Toshelter American businesses- Increasing tariffs on imported goods will automatically increase the demand for domestic goods and protect American businesses.
iii. Increase revenues – Increasing the tariff will also increase the revenue of the nation as more tax will be deposited in the treasury of the nation.
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Answer Details
Grade: High School
Subject: History
Chapter: Tariff
Keywords:
American system,national, monetary plan, Senator,Henry Clay” , Kentucky, Whig party, a protective tariff, national bank, private shareholders , central administration, imported goods
