Chapter 35 and 36 Terms

Chapter 35 and 36 Terms - Unit 11 Key Terms Chapter 35 1...

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Unit 11 Key Terms Chapter 35 1. London Economic Conference, 1933 – The sixty six nation London Economic Conference (summer of 1933) revealed how thoroughly Roosevelt’s early foreign policy was subordinated to his strategy for domestic economic recovery. The delegates to the LEC hoped to organize a coordinated international attack on global depression. They were particularly eager to stabilize the values of the various nations currencies and the rates at which they could be exchanged. Roosevelt had first agreed to send an American delegation , including Secretary of State Cordell Hull, but he started to have second thoughts about the conference’s agenda. Roosevelt was unwilling to sacrifice the possibility of domestic recovery for the sake of international cooperation. America withdrew from the negotiations and scolded the conference for attempting to stabilize currencies. The collapse of the LEC strengthened the global trend toward extreme nationalism, making international cooperation never more difficult as the dangerous decade of the 1930s unfolded. 2. Good Neighbor Policy – Roosevelt proclaimed in his inaugural address, “I would dedicate this nation to the policy of the Good Neighbor.” Roosevelt’s noninvolvement in Europe and withdrawal from Asia, along with the brotherly embrace of the New World neighbors, suggested that the US was giving up its ambition to be a world power and would content itself instead with being merely a regional power, its interests and activities confined exclusively to the Western Hemisphere. Spectacular success crowned Roosevelt’s Good Neighbor policy. 3. Mexican oil expropriation, 1938 - The hope-inspiring Good Neighbor policy, with the accent on consultation and nonintervention, received its acid test in Mexico. When the Mexican gov’t seized Yankee oil properties in 1938, American investors vehemently demanded armed intervention to repossess their confiscated businesses. But Roosevelt successfully resisted the badgering and a settlement was threshed out in 1941, even though the oil companies lost much of their original stake. 4. Cordell Hull – Secretary of State who was supposed to be sent to the LEC; his zeal for reciprocity was unflagging and he succeeded in negotiating pacts with 21 countries by the end of 1939. 5. Reciprocal Trade Agreements Act, 1934 – Designed in part to lift American export trade from the depression doldrums, this enlightened measure was aimed at both relief and recovery. At the same time, it activated the low-tariff policies of the New Dealers. The RTAA avoided the dangerous uncertainties of a wholesale tariff revision; it merely whittled down the most objectionable schedules of the Hawley-Smoot law by amending them. The RTAA was a landmark 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 World War I. It paved the way for the American led free trade international economic system that took shape after
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This note was uploaded on 04/05/2011 for the course APUSH 101 taught by Professor Unknown during the Spring '11 term at Troy.

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Chapter 35 and 36 Terms - Unit 11 Key Terms Chapter 35 1...

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