I. The London Conference
composed 66 nations that came together to hopefully develop a
worldwide solution to the
Franklin D. Roosevelt
at first agreed to send Secretary of State
, but then
withdrew from that agreement and scolded the other nations for trying to stabilize currencies.
As a result, the conference adjourned accomplishing nothing, and furthermore strengthening
II. Freedom for (from?) the Filipinos and Recognition for the Russians
With hard times, Americans were eager to do away with their liabilities in the Philippine Islands.
And, American sugar producers wanted to get rid of the Filipino sugar producers due to the competition
In 1934, Congress passed the
, stating that the Philippines would receive
their independence after 12 years of economic and political tutelage, in 1946.
Army bases were relinquished, but naval bases were kept.
Americans were freeing themselves of a liability and creeping into further isolationism Meanwhile,
militarists in Japan began to see that they could take over the Pacific easily without U.S. interference or
In 1933, FDR finally formally recognized the Soviet Union, hoping that the U.S. could trade with the
U.S.S.R., and that the Soviets would discourage German and Japanese aggression.
III. Becoming a Good Neighbor
In terms of its relations with Latin America, the U.S. wanted to be a “
,” showing that
it was content as a regional power, not a world one.
In 1933, FDR renounced armed intervention in Latin America at the
in Montevideo, Uruguay, and the following year, U.S. marines left Haiti.
The U.S. also lifted troops from Panama, but when Mexican forces seized Yankee oil properties,
FDR found himself urged to take drastic action.
However, he resisted and worked out a peaceful deal.
His “good neighbor” policy was a great success, improving the U.S. image in Latin American
IV. Secretary Hull’s Reciprocal Trade Agreement
Secretary of State Hull believed that trade was a two-way street, and he had a part in Congress’s
passing of the
Reciprocal Trade Agreements Act
in 1934 which activated low-tariff policies while aiming at
relief and recovery by boosting American trade.
This act whittled down the most objectionable schedules of the Hawley-Smoot law by amending
them, lowering rates by as much as half, provided that the other country would do the same toward the