The name for the compromise proposed by Henry Clay for the admission of Missouri to the United States was the Missouri Compromise. It said that Missouri would be admitted as â¦ a slave state and Maine as a free state.It kept the balance of power in the Senate between the slave states and free states.esulting from the Missouri Compromise was a division of territory west of that state being divided north & south between possible slave & free states. Also, to keep a balance of slave & free states in congress.