Capitalism is an economic system in which the trade and industry of the economy is owned and controlled by private individuals, to make profit. Communism refers to social system in which country's trade and industry are controlled by the community and the share of each individual relies on his ability and needs.
It was signed on May 19, 1828 during the presidency of John Quincy Adams. It was passed by Congress. It set a tariff (tax) on imported goods. The tariff was designed to protect the northern industry, causing the southern states to be hit dramatically, which is why it was considered a reason leading to the Civil War.
