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2: The Impact of the First World War
What was the impact on the economy both pre 1917 and after the US
declaration of war in April. (the changes to the economy as a result of
the war)
The social consequences e.g. Prohibition
The political consequences e.g. the growth in…

Page 2

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o Close economic ties with the allies. The USA traded and invested in
them, more than with Germany. By 1916, $1290 million of munitions
were exported and $2.3 billion was loaned to Britain. Therefore, if they
joined Germany they would lose trade and profits as well as their
investors.
o…

Page 3

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o The War Industry Board , which involved the government in economics
for the first time, established and advised on how to make business
efficient. E.g. a result was a uniform way of making bicycles, which
saved 200 tons of steel.

Paying for the War
o Federal Government used two…

Page 4

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o Even though the US became as creditor nation, it had to borrow money
to pay the costs of war. As a result, the level of national debt increased
by 658% between 1916 and 1919 when it stood at just over $27 million.
o In order to meet the cost…

Page 5

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o Positive impact= the war gave a powerful push to the enfranchisement of

women. Their contribution to the war effort was recognised and the 19th
amendment of 1920 gave them the vote nationwide.

Summary
o The US was already making a considerable headway in its economic
development with it joined…

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