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USA > WWII Prosperity > Flashcards

WWII Prosperity Flashcards

1
Q

What X4 factors showed a clear want for isolationism during the 1920s?

A
  • disarmament
  • rejection of LoN membership
  • lack of intervention in Chinese civil war
  • Kellog-Briand Pact 1928
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2
Q

What conference in the 1920s showed USA’s disarmament along with USA, UK, France, Japan and Italy

A

Washington Disarmament Conference 1921

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3
Q

When did Japan begin to expand again, despite signing the Washington Disarmament conference pact in 1921?

A

in the 1930s

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4
Q

What does the passing of the Kellog-Briand pact with such a majority show for isolationism?

A

mass want for isolationism

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5
Q

An article in what magazine suggested the the moto for arms manufacturers was “when there are wars, prolong them”

A

Fortune magazine

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6
Q

Fortune magazine’s article suggested what was the moto of arms manufacturers

A

“when there are wars, prolong them”

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7
Q

When was the US Gunboat Panay sunk by the Japanese?

What was the US’s reaction?

A

1937

accepted their apology

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8
Q

What did the neutrality act of 1935 forbid?

A

the sale of munitions to belligerent nations

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9
Q

What did the neutrality act of 1935 say about Americans and risk?

A

any American travelling on a belligerent ship was doing so at own risk

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10
Q

What did the neutrality act of 1936 ban?

A

all loans to belligerents

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11
Q

What did the 1937 neutrality act ban? What did these clauses seek to avoid?

A

US citizens travelling on belligerent ships

wanted to avoid involvement in Spanish Civil War

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12
Q

What was the relationship between US businessmen and NAzi Germany?

A

continued to trade (and in increasing volumes) until 1940

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13
Q

Prior to 1938 how many aircraft did the USA have in its air forces?

A

only 1,600

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14
Q

When did USA begin rearmament?

A

December 1938

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15
Q

In 1941 what was the military budget compared to 1940?

A

X4

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16
Q

In what year did Roosevelt have Congress amend 1935’s neutrality act?

A

1939

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17
Q

What did congress amending 1935’s neutrality act allow for?

A

sale of arms and munitions to powers at war

Britain and France could not purchase from the USA

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18
Q

In 1940 how many airplane engines were ordered from the USA?

A

13,000

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19
Q

In 1940 how many aircraft were ordered from USA?

A

10,800

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20
Q

When did Congress sign to inject US Navy spending $4billion?

A

July 1940

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21
Q

What did FDR persuade congress to do in July 1940?

A

inject US Navy spending $4billion

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22
Q

In October 1940 what investment was given into defence by Congress?

A

$17billion

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23
Q

In what year did FDR stress the USA must be “the great arsenal of democracy”

A

1940

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24
Q

What quote from FDR stressed the USA’s international role?

A

US must be the “great arsenal of democracy”

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25
Q

In 1940 how many votes did FDR win? Was this a greater or smaller majority than in 1936?

A

Only 22million

smaller majority than 27million in 1936

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26
Q

Who was FDR’s Republican opponent in 1940?

A

Willkie

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27
Q

What were the Republicans seen as in 1940?

A

the party of non-involvement

28
Q

Amendments to the 1935 and 1937 neutrality acts meant that arms could be sold on what basis?

A

cash and carry

29
Q

In 1940 what trade did FDR make with Britain? What did this mark a shift towards?

A

traded Britain 50 destroyers for X6 Caribbean bases

shift towards more active military involvement

30
Q

When was France defeated by Germany?

A

summer of 1940

31
Q

When was lend-lease introduced?

A

1941

32
Q

What was lend-lease?

A

countries would be ‘loaned’ the means to keep fighting

33
Q

When was lend-lease extended to the USSR?

A

November 1941

34
Q

Where did capacity for mass production for war come from?

A

2/3 of steel plants were idle (despite new deal)

= US had lots of spare capacity

35
Q

When was the US Ship Reuben James sunk by Germans?

What was the US reaction?

A

October 1941

triggered Congress to allow merchant ships to be armed

36
Q

When did Japanese attack Pearl Harbour?

A

7th December 1941

37
Q

What was the aim of the attack on Pearl Harbour?

A

immobilise US army so they could not stop Japanese expansion

38
Q

How many were killed in attack on Pearl Harbour in December 1941?

A

2,400 American servicemen

39
Q

When did USA declare war on Japan? What was this prompted by?

A

8th December 1941

Japanese attack on Pearl Harbour the day before

40
Q

When did Italy and Germany declare war on USA?

A

11th December 1941

41
Q

What act gave FDR unprecedented authority during war?

A

War Powers Act

42
Q

What was constructed to increase co-ordination of government / economy / military

A

construction of Pentagon

43
Q

When was the Office of Price Administration constructed?

A

1941

44
Q

What was the role of the Office of Price Administration?

A

guard against inflation

introduced price and rent controls

45
Q

How many paid employees in the Office of Price Administration by end of war?

A

73,000

46
Q

What was the role of the War Production Board?

A

allocation of materials and issuing of contracts

47
Q

Who was the War Production Board led by?

A

Nelson (Sears) and Wilson (General Electric)

48
Q

What was notable about those who led the War Production Board?

A

both CEOs

49
Q

National debt in 1941

A

$41billion

50
Q

National debt in 1945

A

$260billion

51
Q

What was the highest rate of taxation introduced during war?

Excess profits tax

corporate tax

A

94% - highest

90% - excess profits

corporate - 40%

52
Q

How many Americans paid income tax in 1940?

1945?

A

4million

40million by 1945

53
Q

What % of total war cost was paid for via taxation? Was this higher or lower than wwI?

A

41%

higher

54
Q

What was unemployment in 1943? %

A

between 0-2%

55
Q

GNP during war;

1938 :

1940 :

1945 :

A

1938 : $85billion

1940 : $100billion

1945 : $213billion

56
Q

Federal Revenue from Taxation;
and number of people paying;

1940 -

1944 -

A

1940 : $7billion
4million people pay

1944 : $51billion
over 40million people pay

57
Q

What Act did FDR increase taxes with during war?

Rate of corporate tax -

Rate of excess profits tax -

Highest rate of tax -

A

Revenue Act 1942

corporate : 40%

excess profits : 90%

highest rate : 94%

58
Q

Corporate profits;

1932 :

1936 :

1939 :

1945 :

A

1932 : - (negative) $2billion

1936 : $5billion

1939 : $6billion

1945 : $10.5billion

59
Q

Examples of inclusions in 2nd Bill of Rights

When did FDR announce the Bill?

A
  • useful job
  • decent home
  • protection from economic fear of age / unemployment
  • freedom of businesses from unfair trade
60
Q

What was the real impact of the 2nd Bill of Rights

A

was more of a list of aspirations, not policy proposals

securities were taken out of the hands of the individual and placed in responsibility of the government

many were already underway (e.g SSA)

61
Q

Revenue Act of 1945:

top band brought down from ?

excess profits tax?

corporate tax?

A

top rate down from 94% to 84%

excess profits tax repealed

corporate tax reduced

62
Q

What were the tax reductions of 1945 and 1948 like in stimulating business?

A

entrepreneurs took them as signs that they were allowed to make money and invest again and keep what they earned

important for stimulating diversification away from defence economy and again towards consumer goods

63
Q

What was the Revenue Act of 1948 worth for big business?

What happened to individual taxes?

A

$6.5billion

exemption amount for individual taxes increased
introduced “joint taxation” - for married couples
= split income to avoid taxes

64
Q

What % of veterans found employment via the GI Bill?

What % of GI Bill’s budget was used?

A

8% found employment via GI Bill

only 20% of budget used

65
Q

What did Truman do in order to raise purchasing power of the lowest earnings?

When did he do this?

A

Truman raised minimum wage from 40cents an hour to 70cents

in 1948

USA (33 decks)

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