TRADE AND ARMS CONTROL17-1

PEACE AND STABILITY

Pre WWI --> debtor nation Post WWI --> reversed (to some

extent) Allies owed US over $10 billion

THE MYTH OF ISOLATIONISM

Majority of people favored isolationism Treaty of Versailles League of Nations

Reality: too powerful to REALLY be isolationist Economically tied to other countries

Peace through economic policies and arms control rather than armed forces and collective security (League of Nations)

THE DAWES PLAN

High American tariffs hampered other countries' economic recovery Couldn't pay debts

GERMAN ECONOMY! Charles G. Dawes (Am diplomat)

wanted Am banks to loan money to Germany so that Germany could make reparation payments

THE WASHINGTON CONFERENCE

Major powers in costly naval arms race U.S., G. Brit, France, China, Japan,

Belgium, Netherlands, Portugal meet to discuss disarmament

Sec of State Charles Evans Hughes proposed 10 yr moratorium on construction of new warships and the demolition of several existing battleships

FIVE-POWER NAVAL LIMITATION TREATY

Brit, France, Italy, Japan, U.S. formalized Hughes's proposal Did nothing to limit land forces Angered Japan who was told their

naval force had to be smaller than G.Brit and U.S.

ABOLISHING WAR

Wanted treaty to outlaw war Aug 27, 1928--U.S. and 14 other countries sign Kellogg-Briand Pact No binding force Abandon war Settle all disputes peacfully