German American Economic Policy – Administer $33 billion German debt: 1919-1932

  • Coolidge Administration, by Pres. Coolidge monitored Germany (GE) debt (2 representatives from Britain, France, Italy, Japan, USA)
  • Charles G. Dawes proposed Dawes Plan
  • Fr. leaves Ruhr Valley, Allies control GE Banks & introduce new taxes
  • 1 Billion was due in 1924 & by 1928, 2.5 Billion was due, GE could get loans to get things started
  • Young Plan – proposed by Owen D. Young for effect in 1929 (need new strategy to help GE in depression)

o    reduced total debt to 26 Billion & annual to 473 million over 58 years

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o    more taxes on GE & removed Allied control over economy

o    set up an International Bank of Settlement, managed paid installments

  • Am. rejects Laussane Conference resolutions

o    debts reduced to $714 Million & creation of payment bonds, if agreed

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  • Am. always said, GE ability to pay the reparations is not connected to US getting back their $10 billion
  • London accused Japan of being an aggressor & said Japan violated the 1928 Kellogg-Brand pact, (countries cannot engage in war & must use pacifistic methods to resolve disputes) & violated Nine-Power Treaty 1922 (Recognition of Manchuria’s sovereignty)
  • Fighting continued, USA issued the Stimson Doctrine; they’d ignore all the fighting & plead for help, until Japan opted for peaceful methods
  • US wouldn’t recognize treaties until fighting stopped – non-recognition policy
  • Japan didn’t stop, USA & London decided that they wouldn’t stop Japan, fearing a war & loss of more lives

Japan’s Annexation of Manchuria

  • London accused Japan of being an aggressor & said Japan violated the 1928 Kellogg-Brand pact, (countries cannot engage in war & must use pacifistic methods to resolve disputes) & violated Nine-Power Treaty 1922 (Recognition of Manchuria’s sovereignty)
  • Fighting continued, USA issued the Stimson Doctrine; they’d ignore all the fighting & plead for help, until Japan opted for peaceful methods
  • US wouldn’t recognize treaties until fighting stopped – non-recognition policy
  • Japan didn’t stop, USA & London decided that they wouldn’t stop Japan, fearing a war & loss of more lives
READ:
Hitler’s Views of the Jewish People

Neutrality Acts

Neutrality Act of August 31, 1935

  • Set a 6 months Embargo on all arms trade with any countries warring against each other
  • Tested when Italy invaded Abyssinia, October 1935

Neutrality Act of 1936

  • Extend previous act by 14 months
  • Businesses were not allowed to trade on loans or credit to belligerent countries

Neutrality Act of May 1937 – revised other acts

  • Travel to all belligerent countries was banned and extended act’s implications to civil wars as well

Neutrality Act of November 4, 1939

  • Cash & Carry Program, which segued  into the Lend/Lease Program
  • Americans could now travel to most belligerent countries, at their own risk
  • USA placed embargos on belligerent materials– told Italy that invading could lead to another WW
  • Sec. of State Hull said Am. would not intervene, but try to encourage peace
  • USA rejected it; London offers to join in sanctions
  • Italy said US violated 1871 Treaty (signed for commerce) by doing “unfriendly acts”
  • USA said they still had the right to be neutral
  • USA remained neutral, Italy took over Abyssinia 1936 & US never recognized Italian rule over Abyssinia
    • 1933 – most obsolete war equipment replaced
    • 1934 – Gen. Arthur MacDouglas, Hull and FDR expand US army for defence
    • Army size: 115,000 > 165,000
    • Proposed Ludlow Resolution and vetoed

American policy on Mussolini’s Invasion on Abyssinia: 1935

  • USA placed embargos on belligerent materials– told Italy that invading could lead to another WW
  • Sec. of State Hull said Am. would not intervene, but try to encourage peace
  • USA rejected it; London offers to join in sanctions
  • Italy said US violated 1871 Treaty (signed for commerce) by doing “unfriendly acts”
  • USA said they still had the right to be neutral
  • USA remained neutral, Italy took over Abyssinia 1936 & US never recognized Italian rule over Abyssinia

Rearmament

o    Nationwide referendum required to wage war

  • FDR accused of conspiring with other nations to enter war.
  • Hull warned that more problems would arise
    • Encouraged continuous efforts for peace and economic stability
    • Agreement between UK & USA in 1940
    • FDR & Churchill made the Destroyer-Bases deal
    • 50 destroyers sent from US navy for US land rights on British possessions (British Guiana, West Indies, Newfoundland)
    • USA jeopardizes its safety – British colonies in the Americas could prove detrimental if Britain fell to Germany
      • Policy aimed to aid Allies with military supplies in WWII.
      • The speech reflected America’s approach to WW II.
      • Detroit nicknamed “Arsenal of Democracy” since it was the heartland for automotive & armaments products.
      • Led to decline in America’s isolationistic & non-interventionist views
      • New program: America sent military supplies to all the Allied nations during WW II —  to promote Am. security
      • Gave the president power to sell, lend, lease and exchange to any government whose defence the President deemed vital to the defence of the United States.
      • President says “I don’t say Neighbour, my garden hose cost me $15, you have to pay me $15 for it. I don’t want $15, I want my garden hose back after the fire is over”
      • Approximately 50 billion worth of goods were supplied
READ:
Start of World War II

Munich: September 28, 1938

  • Hull warned that more problems would arise
    • Encouraged continuous efforts for peace and economic stability

Destroyer Deal: September 2, 1940

  • Agreement between UK & USA in 1940
  • FDR & Churchill made the Destroyer-Bases deal
  • 50 destroyers sent from US navy for US land rights on British possessions (British Guiana, West Indies, Newfoundland)

USA jeopardizes its safety – British colonies in the Americas could prove detrimental if Britain fell to Germany

Arsenal for Democracy

  • Policy aimed to aid Allies with military supplies in WWII.
  • The speech reflected America’s approach to WW II.
  • Detroit nicknamed “Arsenal of Democracy” since it was the heartland for automotive & armaments products.
  • Led to decline in America’s isolationistic & non-interventionist views

Lend Lease Act: 1941-1945

  • New program: America sent military supplies to all the Allied nations during WW II —  to promote Am. security
  • Gave the president power to sell, lend, lease and exchange to any government whose defence the President deemed vital to the defence of the United States.
  • President says “I don’t say Neighbour, my garden hose cost me $15, you have to pay me $15 for it. I don’t want $15, I want my garden hose back after the fire is over”
  • Approximately 50 billion worth of goods were supplied

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