"Chapter 10The American System and its benefits:The American System was considered to be the first great economic model which wasintroduced to the United States in the first half of the nineteenth century. This integratedeconomic system comprised 3 parts which included a tariff to protect and promote the industriesof America; a national bank to facilitate commerce and federal subsidies for roads, canals as wellas other “internal improvements” that will help to develop profitable markets for agriculture.The American System was the brain child of Henry Clay and it intended to promoteeconomic development and diversification. Its aim was to reduce the dependence on the importsand bring together the different sections of the country. Many had thought that this system woulddiminish the regional boundaries and will make the country a unified whole.The American System was a new form of Federalism which incorporated: ? Maintenance of high public land prices to generate federal revenue.? Support for high tariff in order to protect American Industries and promote the same.? Preservation of the Bank of the United States. RUNNING HEAD: CHAPTER 10 ASSIGNMENT2?Growth of the system of internal improvements like the building of the roads and canalswhich would be financed by the tariff and the land sales revenues.Works Cited:Foner, E. (2013). Give Me Liberty! An American History: Seagull Fourth Edition (Vol.1). WW Norton & Company. "