American System of Political Economy

The American System of Political Economy, developed in the early 19th century, was a set of policies aimed at promoting economic growth and national development. It included high tariffs to protect American industries from foreign competition, federal investment in infrastructure like roads and canals to facilitate trade, and encouragement of a national bank to stabilize the currency. This approach sought to foster a self-sufficient economy, strengthening manufacturing, transportation, and commerce to support American prosperity and reduce reliance on foreign imports.