USA: Impact of WW1
All these mindmaps are segmented into different topics
I printed mine on A3 paper as i found it v difficult to use online and A4 was wayyy too small making the bubbles unreadable
Beware of the typos I was too lazy to fix them whoops
Enjoy the revison :)
- Created by: tidgywidgy
- Created on: 04-04-18 16:22
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- Impact of WW1 on the USA
- Europe damage by WW1
- economies were in ruins as countries had borrowed money to finance war
- Britain borrowed $4,277 million
- France borrowed $3,405 million
- Trade links and production had been disrupted
- mines, factories and communication links had been destroyed by fighting
- economies were in ruins as countries had borrowed money to finance war
- USA benefits from war
- factories + farms producing goods at maximum capacity
- producing 30% of the world's wheat + 70% petrol (early 1920s)
- exporting food and manufactured goods to Europe = new export markets
- High productivity and full employment = good wages for workers
- factories + farms producing goods at maximum capacity
- Laissez Faire problems
- when the prices of crops fell, many employers reduced their wages
- letting businesses run their own affairs rather than enforcing business hours , prices or wages BUT this meant problems
- Gov, felt that this was all part of the economy returning to normal after the war and the Gov, didn't want to get involved
- Why did the USA join the war on the side of the allies?
- Felt American citizens were 'enemy targets' (Lustitania attack, May 1915)
- Zimmerman telegram (25th Feb 1917) sent by German foreign secretary to German minister in Mexico
- Trying to persuade Mexico to invade USA and take back land ('Texas and new Mexico')
- Want to maintain a good relationship with the allies
- Growing belief that German materialism did not fit with the ideas of a democratic world
- Economic Strength
- lots of money for food + raw materials = prosperous agriculture +industry
- advances in technology e.g. mechanisation which can be applied in industry
- Companies more successful than their European competitors
- Social / Economic problems
- unemployment and strikes - returning soldiers couldn't find jobs
- Prices risen but wages the same - high unemployment = boss unlikely to compromise (strikes in 1919)
- Fears of radicalism as the war triggered a communist revolution in Russia (two communist parties established in USA 1919)
- 1919 race riots due to the discrimination and poor economic circumstances
- Wilson rejected
- President Woodrow Wilson established the 'fourteen points' which were the basics of the league of Nations = world peace
- By 1919: the US was against Wilson and the League as Americans didn't want to interfere with issues across the globe
- 1919/1920: congress refused the League. Wilson was rejected and voted in a new president
- Elected Harding who had the powerful idea of 'Normalcy' = get back to the way it was b4 war
- Financial isolationism
- protectionist policies
- The economic policy of restraining trade through methods e.g. tariffs on imports, restrictive quotas ect
- protectionism = decrease trade
- Protects the country's economic independence
- lassez faire = not interfering in business
- New Acts
- May 1921, Emergency Tariff Act = increased the import taxes on agricultural goods
- June 1921, Budget and Accounting Act = put controls on gov. spending
- Nov. 1921, Revenue Act = changed taxes, cutting individual and wartime tax on high levels of profit BUT it introduceda rise in the amount of tax paid by businesses from 1922
- September 1922, Fordney and McCumber Tariff Ac = raised tariffs + extended them to industrial goods. Gave the president power to raise the tariff yearly, in line with the selling price of the goods in the USA
- New Tariffs encouraged Americans to buy American goods
- Did not help US exports as countries retaliated by introducing their own tariffs = US became more expensive + less popular
- protectionist policies
- Wilsons priorities for the ToV
- Germans should be punished BUT not too harshly
- Nations should cooperate to achieve world peace based on his 14 points so he set up the league of nations
- Strengthen democracy in Germany = not let their rulers wage war
- Europe damage by WW1
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