The Purpose of the Tariff of 1816 Was to

question 20

Multiple Choice

The purpose of the Tariff of 1816 was to

• A) raise revenue for the Second Bank of the United States.
• B) prevent the import of British tea.
• C) block the importation of slaves.
• D) limit the consumption of foreign imports and encourage the development of American manufacturing and commerce.
• E) foster a new trade network with Canada and Mexico.

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Definitions:

Chapter 11

A provision of the United States Bankruptcy Code that allows businesses to reorganize and restructure their debts.

Debtor Corporation

A business entity that owes money to creditors.

Creditors

Individuals or entities that are owed money by others, usually as a result of extending loans, credit, or services.

Bankruptcy Law

A legal framework governing the process through which individuals or entities unable to meet their financial obligations can seek relief from some or all of their debts.