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Lecture 1

HIST 3332 Lecture Notes - Lecture 1: Krasnoyarsk Railway, Chinese Eastern Railway, Money Supply


Department
History
Course Code
HIST 3332
Professor
Thornton Richard
Lecture
1

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Tuesday August 30th, 2016
consequence: collapse of russian, german, austro-hungarian empires
key problem was how to reorder this vast area which had no political organization
U.S. played role in determining outcome
emerged as the wealthiest nation
Woodrow wilson thought he could capitalize on the role we played by attempting
to bring about new order (14 points)
new order- victors britain, france and italy created their own structure but
still paid lip service to wilson
idea was to build a structure that contained germany and at the
same time built a barrier for bolshevik expansion from the east
strong anglo french alliance and series of strong federated states around
eastern europe that would serve as this barrier
while british and french agreed on this structure they disagreed on
how to treat germany
french wanted to squeeze everything out of the german
economy, keep them weak but also paying then reparations
indefinitely
1921 they pushed reparations package on germany
that would have required them to pay 2 billion dollars a
year for 88 years; germans said not likely, reaction was
hyperinflation
as they declined to pay reparations the french seized
territory- german reaction was to not work those lands
british idea was to promote german economic revival so they
would have enough money to pay reparations
U.S. had lent britain and france some 10 billion dollars to fight the war and
we wanted it back
so Charles Dawes came up with a plan to do so— we’re
gonna bring about german and european recovery as a way
to get repaid from the loans
proposes a variation on reparations scheme that reduced
them
america will invest in western europe in the 20’s
we bought german railroad bonds, tax bonds, asked
them to put tax on stu— result was that they revived
big time, as did the American economy
hitch: why German economy recovered, it began to
grow, and while they began to pay reparations, the
U.S. was not getting repaid from Britain and France
(we got 20% back)
a significant disaection grew with europe, isolationist in the
united states had their voices felt
Great Depression
why it occurred (Professor’s view): U.S. leadership decided that this
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