Chapter 34 - I The London Conference I The 1933 London...

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I. The London Conference I. The 1933 London Conference composed 66 nations that came together to hopefully develop a worldwide solution to the Great Depression. o President Franklin D. Roosevelt at first agreed to send Secretary of State Cordell Hull, but then withdrew from that agreement and scolded the other nations for trying to stabilize currencies. o As a result, the conference adjourned accomplishing nothing, and furthermore strengthening American isolationism. II. Freedom for (from?) the Filipinos and Recognition for the Russians I. 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 they created. II. In 1934, Congress passed the Tydings-McDuffie Act, stating that the Philippines would receive their independence after 12 years of economic and political tutelage, in 1946. o Army bases were relinquished, but naval bases were kept. III. 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 resistance. IV. 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 I. In terms of its relations with Latin America, the U.S. wanted to be a “good neighbor,” showing that it was content as a regional power, not a world one. II. In 1933, FDR renounced armed intervention in Latin America at the Seventh Pan-American Conference in Montevideo, Uruguay, and the following year, U.S. marines left Haiti. III. The U.S. also lifted troops from Panama, but when Mexican forces seized Yankee oil properties, FDR found himself urged to take drastic action. o However, he resisted and worked out a peaceful deal. o His “good neighbor” policy was a great success, improving the U.S. image in Latin American eyes. IV. Secretary Hull’s Reciprocal Trade Agreement
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I. 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. o 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 United States. II. The Reciprocal Trade Agreements Act reversed the traditional high-tariff policy that had damaged America before and paved the way for the American-led free-trade international economic system that was implemented after World War II. V. Storm-Cellar Isolationism
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Chapter 34 - I The London Conference I The 1933 London...

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