Chapter 37 - London Economic Conference Stabilize the...

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London Economic Conference Stabilize the values of the various nations’ currencies and the rates at which they could be exchanged. Exchange rate stabilization was essential to the revival of world trade. Roosevelt was unwilling to sacrifice the possibility of domestic recovery for the sake of international cooperation. The collapse of the London Conference also strengthened the global trend toward extreme nationalism, making international cooperation ever more difficult as the dangerous decade of the 1930’s unfolded. Philippines Tydings-McDuffie Act 1934- Provided for the independence of the Philippines after a 12 year period of economic and political tutelage, by 1946. The US agreed to relinquish its army bases, but naval bases were reserved for future discussion. Americans were not so much giving freedom to the Philippines as they were freeing themselves from the Philippines. Good Neighbor Pan American Conference- Montevideo Uruguay, US delegation formally endorsed nonintervention. Deeds followed words. The last marines departed from Haiti in 1934; also Cuba was released from the Platt Amendment, although the naval base at Guantanamo was retained. Reciprocal Trade Chief architect was Sec of State Hull. Based on: trade is a 2 way street a nation can sell abroad only as it buys abroad, tariff barriers choke off foreign trade; trade wars beget shooting wars. Reciprocal Trade Agreements Act in 1934. Designed in part to lift American export trade from the depression doldrums, this enlightened measure was aimed at both relief and recovery. It also activated low tariff policies of the New Dealers. This was a land mark piece of legislation. It reversed the traditional high protective tariff policy that had persisted almost unbroken since Civil War days and that had so damaged the American and international economies following WWI. Steps to Isolationism
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This note was uploaded on 08/31/2010 for the course AMER HIST 45213 taught by Professor Platt during the Spring '10 term at Berkeley.

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Chapter 37 - London Economic Conference Stabilize the...

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