Impact of WWI on America
- Created by: Amy Mc
- Created on: 26-11-15 13:56
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- America & WWI
- Economic impact
- Positive economic impact
- 1916- value of US trade = $6 billion
- USA replaced UK as most important creditor nation in the world
- NYC became international finance capital
- Armed forces had to be suppled -> employment in industry
- War Industries Board
- established priorities for production
- allocated raw materials to industries
- encouraged rival companies to work together
- War Industries Board
- 1916- 1918- industrial production increased by 39%
- 1.3 million new people employed in civilian workforce
- Real wages higher in 1918 than 1914
- Exports of food to Europe increased by 300%
- Penetrated some of UK's export markets (especially in Asia)
- High interest on loans to UK & Italy
- 1919- overseas investment nearly at $10 billion
- No war damage
- Negative economic impact
- Had to borrow heavily from American people
- Liberty bonds introduced in May 1917
- Between 1917-1919 liberty bonds raised $21 billion
- Great taxation
- 1917 War Revenue Act -> top tax level was 67%
- Money owed increased by 658% 1916-1919
- Post-war recession
- 1918= solidiers demobilised -> loss of jobs
- Had to borrow heavily from American people
- Positive economic impact
- Political impacts
- Strengthened powers of Federal Government
- Railways placed under state control
- Fuel Administration limits prices
- 1917 Espionage Act & 1918 Sedition Act limited personal freedom
- 1500 arrested by 1918 Act
- Strengthened powers of Federal Government
- Social impact
- 1917 Lever Act- reduced alcohol content of beer
- 1918 Prohibition Act- stopped sale & manufacture of alcoholic drinks
- 1919 Volstead Act- illegal to sell, transport or make alcohol over 0.5%
- Strengthend xenophobia
- 1920s Red Scare
- Push for female franchise
- Economic impact
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