American System

a term used by Henry Clay and applied to his plan of protective duties and internal improvements, as proposed in the debates in Congre which resulted in the tariff law of 1824. At present it is used to denote the policy of protection to home industries by means of duties on imports. America’s Cup, a yachting trophy, originally known as the Queen’s Cup, offered as a prize to the yachts of all nations by the Royal Yacht Squadron of Great Britain, in 1851. The first contest for it was held Aug. 22 of that year, when it was won by the American yacht “ America,” whose owners deeded it in trust to the New York Yacht club. The subsequent succe of American yachts in keeping the cup caused it to become known as the “ America’s ” —" In 1903 Sir Thomas Lipton presented Shamrock III. as challenger for the America’s Cup, Reliance, built by the Her resh offs, being presented as defender of the Cup by an American i. with Mr. Iselin as manager. everal of the races were called of America’s Cup RECORD OF CONTES’ Date.