THE VIRGINIA DYNASTY 1801 1825
JAMES MONROES PRESIDENCY
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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It called for high tariffs on imports which would help northern factories
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Northerners would have money to buy farm products from the West and the South
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The money from the tariff would be used to build new roads, bridges, and canals
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None of the above
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Detailed explanation-1: -The American System included financial support for roads, canals, bridges. These improvements to the nation’s infrastructure would facilitate trade and increase accessibility to markets. Revenue – Money would be raised by selling public land and imposing tariffs.
Detailed explanation-2: -The establishment of a protective tariff, a 20%–25% tax on imported goods, would protect a nation’s business from foreign competition. Congress passed a tariff in 1816 which made European goods more expensive and encouraged consumers to buy relatively cheap American-made goods.
Detailed explanation-3: -How would Clay’s American System with high tariffs on imported goods have benefited the West and South? He expected that money from tariffs would be used to help farmers ship their goods to the North. He expected that northerners would use their profits to buy farm goods from the West and South.
Detailed explanation-4: -First, these taxes allow a nation to raise money. Second, tariffs protect a nation’s goods from cheaper priced foreign items. Since the United States of America’s founding in 1788, various groups of Americans have differed on the type of economy that the new nation should establish.