HST 306.docx

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Michigan State University
HST 306

HST 306, Exam #1 (Study Guide): I. Dollar Diplomacy: the efforts of the United States under President Taft to further its aims in Latin America and East Asia through use of its economic power by guaranteeing loans made to foreign countries. [The term was originally coined by President Theodore Roosevelt.] II. Progressivism: a reform movement, backed by city dwellers, including middle class; focused on political and social problems in urban society. It’s primary goal was to challenge the growing power of corporations that have grown so large as to dwarf individuals, cities, etc. a. The movement seemed to lack a clearly defined program. b. Saw industrialization and urbanization as a potentially disruptive force. c. Used the power of the government in an unprecedented manner. i. From T. Roosevelt on progressivism was reforming society using the government. III. Progressive Era Technological Innovation a. Cars: i. Henry Ford created the Model A, the Model T etc. (First Old 999 racing car) 1. “Invented” the assembly line. b. Movies: moving pictures were first developed at the turn of the century and became a key to propaganda and media influence in our culture. c. Subway d. Panama Canal: “Speak softly but carry a big stick.” i. Began construction under T. Roosevelt Administration. ii. Questionable ethics in acquiring the land used. e. Electric Lights: Thomas Edison IV. Brandeis [Review Important Sections of Book Highlighted In Class]: Brandeis had a reputation among Progressive reformers for his clear-cut views on monopolies and his proposal on how to end the abuses of large corporations. a. Financial Oligarchy: i. “The Dominant Element”: “The dominant element in our financial oligarchy is the investment banker,” (Brandeis, 50). 1. “The original function of the investment banker was that of dealer in bond stocks, and notes; buying mainly at wholesale from corporations, municipalities, states, and governments which need money, and selling to those seeking investments,” (Brandeis, 51). 2. The Key to the Power of the Investment Banker: a. The obvious consolidation of banks and trust companies and the subtle affiliations through stockholding, voting trusts, and interlocking directorates. Joint transactions eliminate competition between investment bankers. b. The consolidation of railroads into huge systems created businesses so big that they had to depend upon the associated New York Bankers. c. J.P. Morgan & Co. became the directing power in pretty much everything. b. Interlocking Directorates: refers to the practice of members of a corporate board of directors serving on boards of multiple corporations. c. Big Men Little Businesses: V. Theodore Roosevelt: “to infuse reform with respectability” a. Believed in the essential goodness of American institution and hated those who wanted to tear down what had taken so long to create. i. Reform by perfecting the system would help preserve it. b. Roosevelt’s Square Deal: the intention was not to “trust-bust” out right. i. Roosevelt: combination is a natural process but one that required supervision. ii. 44 anti-trust suits were filed ruing Roosevelt’s presidency. 1. Northern Securities Company iii. Sherman Antitrust Act [1890]: was the first measure passed by federal government to prohibit trusts. iv. Three Major Pieces of Legislation: 1. The Pure Food and Drug Act [1906]: prevented the manufacture, sale, or transportation of adulterated, or poisonous, or deleterious, foods, drugs, medicines, and liquors, and for regulating traffic therein, and for other purposes. 2. The Meat Inspection Act [1906]: prevented adulterated or misbranded meat and meat products from being sold as food and to ensure that meat and meat products are slaughtered and processed under sanitary conditions. 3. The Hepburn Act [1906]: gave the Interstate Commerce Commission (ICC) the power to set maximum railroad rates and extend its jurisdiction. v. Popularized Conservation of Natural Resources: 1. Five new national parks, fifty one new wildlife refuges, additional forty three million acres of national forest, etc. VI. William H. Taft: helped win important victories for progressivism. a. Taft proved to be a vigorous trust buster. i. Mann-Elkins Act [1910]: placed the telephone and telegraph companies under the jurisdiction of the ICC and authorized it to examine railroad rates on its own initiative. b. Department of Labor: c. Children’s Bureau: d. Established an eight hour work day for federal employees. e. Sixteenth Amendment: authorized an income tax. f. Seventeenth Amendment: provided for the direct election of senators. g. Between 1909 and 1912, Taft lost the confidence of the Progressives: i. Legislative Reform: Speaker of the House (Joseph Gurney) held all the power in the House of Representatives. Progressives hated this arrangement, but Conservatives threatened to block legislation if Taft didn’t side with them and Progressives then blamed their loss on Taft’s desertion. ii. Trade: another wedge between Taft and the Progressives. 1. Payne-Aldrich Tariff [1909]: effected a modest reduction in the tariff. Taft heralded this as a major reform for which he took credit. This angered the Progressives who wanted more reduction and more credit. iii. Conservation: dispute over Secretary of the Interior, Richard Ballinger- in 1909, Louis Glavis, and investigator for the Interior Department uncovered that shortly before taking office, Ballinger profited from aiding a Seattle group in delivering a rich Alaskan coal field to a large business syndicate. Pinochet, idol of the conservationists, and chief of Forest Services, leaked the story and was fired by Taft. VII. Woodrow Wilson: campaigned in 1912 under the slogan of “New Freedom”, an alternative to Roosevelt’s New Nationalism. a. New Freedom: the government should intervene in the economy to the extent necessary to restore competition. i. The Underwood Tariff [1913]: substantially reduced import duties. Also inacted the first income tax passed under the Sixteenth Amendment; the tax rose one percent on personal and corporate income over $4,000 to four percent on incomes over $100,000. ii. The Federal Reserve Act [1913]: reformed banking and currency system, resulted in part from a congressional inquiry into the “money trust.” Provided for more flexible currency and established a measure of public control over private bankers. It created twelve Federal Reserve Banks that were responsible to a Federal Reserve Board. iii. Clayton Antitrust Act [1914]: attempted to bolster the faltering attack on monopoly by prohibiting interlocking directorships and other devices that lessened competition. It made gesture toward exempting labor unions, but with fuzzy wording allowed for SCOTUS to later rule certain strikes and boycotts illegal. iv. La Follette Seamen’s Act [1915]: freed sailors on merchant ships from a contract system that amounted to forced labor in practice. b. By early 1916 Wilson began to modify his position on many issues after reassessing the political situation. i. In January 1916, Wilson nominated Louis D. Brandeis to the Supreme Court; this outraged conservatives and it took four months to receive Senate confirmation. ii. Federal Farm Loan Act [1916]: created twelve regional banks to provide long- term, low interest loans to farmers. iii. Keating-Owens Act [1916]: barred the products of firms employing child labor form interstate commerce. (Hammer v. Dagenhart [1918]: proved this measure unconstitutional.] iv. Kern-McGillicuddy *1916+: provided workmen’s compensation for federal employees. v. Adamson Act [1916]: gave the unions an eight hour day for railroad workers in interstate commerce. vi. Webb-Pomerene Bill: exempted the overseas operations of business firms from antitrust laws. c. Wilson’s Administration experimented during WWI with new policies to increase wartime food production. VIII. New Nationalism: began its rise during T. Roosevelt’s second term in office. a. Increased federal controls b. Taxes on income and inheritances c. Stricter regulation of railroad rates d. Implantation of eight hour work days/ workman’s compensation e. Limitations on uses of injunctions during labor disputes IX. World War I: a. Democracy (p. 80-83): b. Pacifism (p. 92): c. Propaganda (p. 88-90): Wilson administration had a massive wartime propaganda initiative. i. Committee on Public Information, led by George Creel) published millions of pamphlets featuring peace loving democracy. d. Causes: i. Domestic Political Factors: 1. German Domestic Politics: German government was still dominated by Prussian Junkers who feared the rise of the left-wing parties. a. Fritz Fischer famously argued that they deliberately sought an external war to distract the population and whip up patriotic support for the government. 2. French Domestic Politics: a. France recognized Germany had nearly twice as much population and a better equipped military. France had a strong indication after the Tangier, and Agadir Crises that war with Germany would be inevitable if Germany continued to oppose French colonial expansion. b. France was politically polarized with left wing socialists and right wing nationalists. c. There was great turnover at the top of government with six foreign ministers in the eighteen months leading up to the war. 3. Austrian Empire and Austria-Hungary: In 1867, the Austrian Empire fundamentally changed its governmental structure and became the duel monarchy of Austria-Hungary. a. Under new monarchy, the traditional German speaking upper class was challenged by the Hungarian upper class. b. Social Darwinism became popular among the Austrian half of the government. ii. International Relations: 1. Imperialism: The U.K. and France accumulated great wealth from their colonial holdings, and Germany, Austria-Hungary, Italy, and Russia hoped to do the same. Their frustrated ambitions, and British strategic exclusion created tensions. a. The limits of natural resources in many European countries began to alter trade balance and force national industries to seek new territories with rich natural resources. 2. Web of Alliances: there were an abundance of loose alliances between European nations that often required participants to agree to collective defense if attacked. a. Treaty of London [1839]: neutrality of Belgium. b. German-Austrian Treaty/Duel Alliance [1879]: Italy joined on in 1882. c. Franco-Russian Alliance [1894] d. The “Entente Cordiale” *1904+: between Britain and France which left the northern coast of France undefended, and the separate “entente” between Britain and Russia *1907+ that formed the Triple Entente. e. Timeline of Events that set these treaties in motion: i. June 28, 1914: Serbian assassinates Archduke Franz Ferdinand of the Austro-Hungarian Empire. ii. July 23, 1914: Austria-Hungary sends Serbia a list of severe demands. U.K. and Russia agree with demands but feel time is too short [48 hours], but advised Serbia to comply. iii. July 24, 1914: Germany declares support for Austria- Hungary’s position. iv. July 25, 1914: Russia and Serbia mobilize armies. v. July 28, 1914: Austria-Hungary declares war on Serbia. vi. July 29, 1914: Germany says it is considering a war with France and a track that passes through neutral Belgium. vii. August 1, 1914: Germany declares war on Russia. viii. And then it all went to hell. iii. Franco-German Tensions iv. Austrian-Serbian Tensions and Bosnian Annexation Cri
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