Ch.25
Poltics
Geography
Economy
Religion
Social
Intelect
Ivan's Questions
Why would Germany accept the circular loans if it would only result in more debt?
What did Latin America need loans for?
Conflicting Groups
Isolationists
internationalists
Isolationism
The myth that the US had turned its back on the world
Harding Administration
American membership in the League of Nations was no longer a possibility
Charles Evans Hughes (SoSt)
negotiated seperate peace treaties with the Central Powers
through seperate treaties they belived they would gain the advantages of the Versailles Treaty without the responsibilities
Wanted to find something to replace the league of nations
Washington Conference of 1921
an attempt to end a naval armaments race between the U.S., Britain, and Japan
Hughes proposed a plan reducing fleets, a moratorium of large warships for a decade, and scrapping existing shipping
resulted in the Five-Power Pact
for every 5 tons of of warships the U.S and Britain had, Japan had 3, and France+Italy had 1.75
allowed for Japanese dominance in East Asia, due to Britain and the US spreading their fleets across the world when Japan only cared about the Pacific
Nine-Power Pact
Four-Power Pact
continuation of Open Door Policy in China
a promise to respect US, British, Japanese, and French Pacific territories and cooperation
Frank Kellogg (SoSt)
proposed a multi-lateral treaty outlawing war as an instrument of national policy
Kellogg-Briand Pact
strictly enforced by world opinion
focused on uninterupted expansion of American trade
Effects of WWI
Europe was left in debt (Germany struggled to pay off reperations)
Worisome due to the American economy depending on European prosperity.
Circular Loans (Charles G. Dawes)
the offering of loans to Germany to meet reperation payments, Britain and France reduced the amount in return
won a nobel peace prize
Circular Loans
U.S loans
Germany pays reperations to Britain and France
Britain and France pay war debt
Circular Loans
Reliance on destabalized European economy
created a troubling circle of international finance
forbearer of economic disaster (when the european economy improves and no longer needs American products)
Tariffs caused by the Fordney-McCumber Act
prevented European countries from being able to pay of loans
Latin America
increased military presence
to prevent revolutions
helped increase American access to Latin American resources
similar loans to that in Europe
made it difficult to pay loans due to tarriffs.
increase in hatred towards "Yankee Imperialism"
Herbert Hoover
New Policy
Great Depression (Hoover administration)
recognition of any sitting government without questioning the means through which it was obtained
repudiated the Roosevelt corollary and monroe doctrine
his refusal to cancel all war debts damaged international relationships.
Emerging European Parties
Mussolini's Fascist Party
National Socialist Party (Germany)
aka the Nazis
overthrew the Weimar Republic
Led by Adolf Hitler
belief in the racial superiority of the Aryan race
wanted to provide Lebensraum for the "master race"
Anti-semitism
militarism
Asia
Manchuria
Chinese territory with Japanese economic control
Japan launched a major invasion of northern Manchuria
failure of U.S. diplomacy allowed for Japan to further attack China
FDR
"Bombshell"
repudiated orthodox views and rejection of any currency stabalization
abandoned Hoover's efforts to settle war debts
forbade banks from making loans to any nation
Reciprocal Trade Agreement Act of 1934
the lowering of tariffs by up to 50% in return for similar reductions by other nations
pushed for better relationship with the Soviet Union
Inter-American Conference
The Good Neighbor Policy
"No state has the right to intervene in the internal or external affairs of another"
new reliance on economic pressure to influence Latin American countries.
Why am I alive