World%20War%20II

World%20War%20II - World War II I. The Coming of World War...

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Unformatted text preview: World War II I. The Coming of World War II A. The Crisis of Capitalism European indebtedness in the 1920s --war debts; war reparations --The Dawes Plan, 1924 Crisis of Capitalism (cont) U. S. Production, European Consumptiontoo much, and too little We must find a profitable market for our surpluses. Herbert Hoover, 1928 We must finance our exports by loaning foreigners the where-with-all to pay for themWithout such loans we would have the spectacle of our neighbors famishing for goods which were rotting in our warehouses as unusable surplus.John Foster Dulles, 1928 The Great Depression, 1929-1940 Economic contraction unemployment Unemployed Frenchmen in a Breadline B. Open Door or Economic Nationalism? American Open Door Policy, 1897-1940 Markets and the necessity of foreign demand American factories are making more than the American people can use; American soil is producing more than they can consume. Fate has written our policy for us; the trade of the world must and shall be ours.Albert J. Beveridge, 1897 1898 It seems to be conceded that every year we shall be confronted with an increasing surplus of manufactured goods for sale in foreign markets if American operatives and artisans are to be kept employed the year round. The enlargement of foreign consumption of the products of our mills and workshops has, therefore, become a serious problem of statesmanship as well as of commerce.The Department of State, 1898 1912, 1928...
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World%20War%20II - World War II I. The Coming of World War...

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