American System a national economic plan put forth by Senator Henry Clay of

American system a national economic plan put forth by

This preview shows page 2 - 3 out of 3 pages.

American System: a national economic plan put forth by Senator Henry Clay of Kentucky and the Whig party throughout the first half of the 19thcentury. The plan consisted of three major components: Pass high tariffs (taxes) on imports to protect American businesses and to increase revenues James Monroe: the fifth president of the United States (1817-1825). He is perhaps best known for establishing the foreign policy principle that came to bear his name, the Monroe Doctrine. Era of Good feelings: a period in the political history of the United States that reflected a sense of national purpose and a desire for unity among Americans in the aftermath of the War of 1812. Panic 0f 1819: the first major peacetime financial crisis in the United States. It was followed by a general collapse of the American economy that persisted through 1821. The Panic heralded the transition of the nation from its colonial commercial status with Europe toward an independent economy. Northwest Ordinance: passed by the U.S. government under the Articles of Confederation to create the Northwest Territory out of land gained by Great Britain. It was important because it established the precedent by which new states could become part of the union. Southwest Ordinance: The Southwest Territory, which was defined as "Territory of the United States, South of the River Ohio," was created by the Southwest Ordinance enacted on May 26, 1790, out of land that was ceded to the U.S. federal government by the State of North Carolina. Missouri Compromise: the legislation that provided for the admission of Maine to the United States as a free state along with
Image of page 2
Missouri as a slave state, thus maintaining the balance of power between North and South in the United States Senate. Diplomatic Nationalism: Pride toward one’s country through interaction with other countries. Transcontinental Treaty: The Adams–Onís Treaty of 1819, also known as the Transcontinental Treaty, the Florida Purchase Treaty, or the Florida Treaty, was a treaty between the United States and Spain in 1819 that ceded Florida to the U.S. and defined the boundary between the U.S. and New Spain.
Image of page 3

You've reached the end of your free preview.

Want to read all 3 pages?

  • Fall '17
  • Cliff Tyndall

  • Left Quote Icon

    Student Picture

  • Left Quote Icon

    Student Picture

  • Left Quote Icon

    Student Picture

Stuck? We have tutors online 24/7 who can help you get unstuck.
A+ icon
Ask Expert Tutors You can ask You can ask You can ask (will expire )
Answers in as fast as 15 minutes