US History II Study Guide Exam 2

US History II Study Guide Exam 2 - John M. Keynes- Called...

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John M. Keynes- Called on government not to balance budget but to spend its way out of the depression. When prosperity returned they could pay off debt through taxes. Government spending lead to increase in aggregate demand. +++ free market working on its own will not lead to reduction of unemployment. Inadequate aggregate demand – so needed government. Demand side. Andrew Mellon- Treasury sec under Harding and Coolidge. Believed that prosperity trickled down from the rich to the poor through investments, which raised production, employment, and wages. Persuaded Congress to repeal excess profit tax on corporations, and gift tax, halve estate and income tax, and endorsed Fordney-McCumber Tariff. Platt Amendment- Gave US authorities to the right to intervene if Cuban independence or internal order were threatened. Claiming that power US troops occupied the island twice between 1906 and 1923. Cubans incorporated into their constitution a permanent treaty with the United States, that limited the power of Cuba to make treaties, borrow money, or change certain policies established by the occupation forces and required the sale or lease of lands for a naval base. More important, the U.S. was granted the right to intervene at will "for the preservation of Cuban independence" and "the protection of life, property and individual liberty." Having no choice, Cuba submitted. +++ gives US ability to compromise their Cuban sovereignty. Gentlemen's Agreement- Emilio Aguinaldo- Leader of the Filipino independence movement. Panama Canal- Gave US commanding position in the Western Hemisphere. Its importance required the country to police the surrounding premises. The new American empire now spanned the globe, stretching from the Caribbean to the Pacific and linked by waterway between seas. As a pivitol point between hemispheres TR’s canal allowed the US to flex its strength across the globe. Selective Service Act (1917)- Only had 180,000 uniformed men. To raise more forces they passed the SSA. Progressive euphemism for the draft; first time in U.S. history that conscripts sent abroad to fight Sixteenth Amendment- Income tax. Woodrow Wilson. War Industries Board- was a United States government agency established on July 28, 1917, during World War I , to coordinate the purchase of war supplies. [1] The organization encouraged companies to use mass-production techniques to increase efficiency and urged them to eliminate waste by standardizing products. The board set production quotas and allocated raw materials. It also conducted psychological testing to help people find the right jobs. ****Bernard Baruch, "the industrial czar", Government administrators negotiated market share among big corporations Anti-trust laws suspended, "Cost-plus" contracts, Unprecedented collusion between Big Business and Big Government. Coordinated production through networks of industrial associations. Rather than order firms to comply and risk law suits against the government, the WIB relied on persuasion through publicity and
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This note was uploaded on 04/20/2011 for the course HIST 101 taught by Professor Reginald during the Spring '07 term at Rutgers.

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US History II Study Guide Exam 2 - John M. Keynes- Called...

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