The "American System"
Lecture no. 22 from the course: A History of the United States, 2nd Edition
Taught by Professor Gary W. Gallagher and 2 others | 29 min | Categories: The Great Courses Plus Online History Courses
The War of 1812 collapsed the U.S. Treasury, bankrupted hundreds of businesses, and soaked up the tiny hoard of American financial capital by government borrowing. Henry Clay and John C. Calhoun became the principal spokesmen for rebuilding the infrastructure of the American economy after 15 years of Jeffersonianism.