Rediscovering a Genuine American System
May 12, 2020
Rediscovering a Genuine American System
Pictured here: The Second Bank of the United States. The building still stands in Philadelphia. This bank is a precedent for the National Infrastructure Bank proposed by the NIB Coalition.
The website has a conservative slant, and the article urges conservatives to learn about the real economic history of the United States, specifically what was called by 19th century economists and political leaders, the "American System". Contrary to what popular opinion and the mainstream media might have you believe, the American System was NOT based on "free trade" - quite the opposite. It was based on a protectionist policy, combined with an Hamiltonian emphasis on supplying credit to industry, manufacturing, and what was called "internal improvements" like canals, roads, and railroads.
Alexander Hamilton, our first Treasury Secretary, was the genius behind the creation of the First Bank of the United States. Mr. King's article begins with U.S. statesman Henry Clay rising to defend the Second Bank of the United States.
The article makes no mention of the current proposal for a National Infrastructure Bank, championed by nibcoalition.com, which represents the modern day revival of the American System. But it does offer a refreshing and competent review of the American System, and as such is well worth the read.
You can read the entire article here: Rediscovering a Genuine American System by Wells King
Coalition for a National Infrastructure Bank
P.O. Box 1029
Leesburg, VA 20177
info@nibcoalition.com