Henry Clay's American System had high taxes on imported goods. How would that benefit the Western and Southern Territories?(1 point)%0D%0AResponses
1) By imposing high taxes on imported goods, the American System would protect and promote domestic industries in the Western and Southern territories. This would encourage the growth of manufacturing and production within these regions, creating more job opportunities and economic development.
2) The high taxes on imported goods would also help to reduce competition from foreign industries, allowing local businesses in the Western and Southern territories to compete more effectively in the market. This would strengthen their position and increase their profitability.
3) Additionally, the revenue collected from these high taxes could be used to invest in infrastructure projects, such as roads, canals, and railways, in the Western and Southern territories. This would improve transportation and communication networks, facilitating trade and expanding market access for local businesses.
4) The American System's protectionist measures would also enhance national unity and strengthen the overall economy. By promoting economic growth in the Western and Southern territories, it would reduce regional disparities and foster a sense of shared prosperity across the country.