British Empire was losing their economic and military power bit by bit even before the First World War. However, it can be claimed that Britain’s long economic and military decline has triggered by the war because the decline became obvious after the war. The empire has used money more than other countries in the war. Britain lost more than what it got from the war. Because of the low economic situation of Britain, the scale of the Royal Navy became smaller than before the war. The war accelerated what was starting. Britain’s financial was damaged by its debts, and it was one of the reasons that British power was replaced by that of the United States. The Great Depression affected Britain very severely as well. Therefore, even though before …show more content…
Other countries such as the United States and Germany were catching up with the economic growth of British Empire by the early 20th century. Britain retained its dominance of world finance, and the Royal Navy still had big influence. However, it can be said that Britain’s long economic and military decline has triggered by the war because the decline became obvious after the war. Of course, it is difficult to point out 1 event which is responsible for the decline, but the First World War was one of the big reasons. Spending on the First World War once became two-fifths of the national income of British Empire. The empire spent money more than any other countries in the war. London was faced the financial problem. British finance only could stand for another 3 more weeks by April 1917. Then Britain got the financial support from the United States. The war brought Britain debts and unemployment when everything became normal. Around 20 percent of people in the United Kingdom were unemployed in 1923. Britain lost much more than what it got from the war. Because of the poor economic situation of Britain, the scale of the Royal Navy became smaller than before the war. The war accelerated what was starting. Britain’s financial was damaged by its debts, and it caused British power was replaced by that of the United States. It did not happen suddenly. It was the result of a long process of the ruling, the failure of the armies, and the economic strategy. The Great Depression affected Britain very severely as well. Therefore, Britain’s long economic and military decline has triggered by the
Encl. "World War I and the Economy." January 2001. Encyclopedia.com. Electoronic. 24 October 2013. .
Although The war did not accomplish any of the things that it started out to accomplish, it became a turning point in American history. Most of the issues that America started out fighting for disappeared shortly after the war, just about the same time that the indirect effects of the war were beginning to become noticeable. These direct effects mainly centered around impressment and blockades, while the indirect effects dealt mainly with the rise of Andrew Jackson, William Henry Harrison, and the decline of the Federalists. Following the war, the United States was at peace with Britain. Peace gave the British no need to result in acts such as impressm...
During the Great Depression, America’s economy was merely destroyed. Because less money was available, industrialization dropped, factories were losing, and the number of unemployment increased. Later, during World War II most of the countries were destroyed, however, America’s economy was able to grow. Due to the mobilization of America, The victory gardens, the rationing, and the urge to produce more to fight better, America’s production increased in order to support its military. Also, different types of industry that wasn’t available before the war started to develop during the war. So, employment started to increase, thereby increasing the economy. Moreover, it was able to fund other countries with weapons and products necessary for the war, and in alliances America was mainly the provider. After the war, when the Americans’ soldiers came back, with a huge number of factories and high number of people ready to work, production flourished. Thus, America started to recover economically and become more powerful. World War II transformed America’s economy from a depressed
This investigation will examine ways in which the US economy improved during the second World War and what caused these improvements. World War Two was a turning point for the American economy from the end of the Great Depression to the start of an economic boom. The reasons for this economic improvement are still debated today. This investigation will look at the economic indicators before, during, and after the war. It will also consider the two main arguments for the cause of the sudden economic growth and determine which one seems most probable.
World War I may not have made the world safe for democracy, but it did help to lay the groundwork for a decade of American economic expansion. The war began in Europe in 1914, and the United States entered the fray in 1917. The 1920s saw the growth of the culture of consumerism. A significant reason for United States involvement in the war was the nation’s economic links to the Allied Powers, and especially to Great Britain. American soldiers returned home in May 1919 with the promise of a prosperous decade (Baughman 197).
Although wages rose during the war, prices also rose by sixty percent. Because European farm production was disrupted, the United States' agricultural prices rose more than fifty percent between 1913 and 1918, and farmers' income increased significantly. Many farmers saw this as a great opportunity to bring in wealth and borrow money to expand production, but when the high prices of agricultural merchandise decreased, planters faced a credit squeeze. While most men were off at war, many women and blacks took over their jobs, contributing intensely to the Great War, also known as World War I.
... was rampant. The British economy of 1919 was not even close to the one of 1900, it could not sustain the gold standard .But, in the 1920's was a boom. From 1922 to 1927 the value of gross external assets held by Americans, especially in Europe rose 400%. By 1928 United States had loaned one billion per annum and the biggest borrower was Germany.
...ntrol what. This led to competition to try to control the most foreign colonies, and in turn, sustain their economy. And whenever there is competition, there are tensions formed, as was the case between the powers prior to WW1, driving the nations to war.
Although the American desire for democracy had signaled for the rise of American independence, it was Great Britain’s harsh and seemingly unfair imperial policies that strengthened the colonists’ resistance and reinforced their commitment to republican values. Britain’s imperial policies challenged the American colonists politically, economically, and socially. Politically, the policies threatened the established tradition of colonial self-government. Economically, they represented taxation to raise revenue, or even more disadvantageous, taxation without representation. Lastly, socially the policies increased the colonists’ legal punishments and threatened to abduct their property. All three factors contributed to the rise in colonists’ resistance
In chapter 22, America faced prosperity decade from 1920 to 1928. Since World War I broke out in 1914, America produced a lot of war supplies for orders. However, after this war ended, the orders of war supplies were cancelled all, and bunch of people who just discharged from military service came back to the nation immediately to seek their jobs. Very fortunately, unlike postwar depression, America’s economic decline didn’t occur immediately after World War I was finished. On the other hand, America experienced the growth of economic development such as the GNP expanded by 16 percent.
In fact, it was due to Britain’s early industrialization (1780-1850), leading the way in agricultural and clothe production, and extensive transportation advancements, over ten thousand miles of railroads (Hunt et al, 688), that it was able to stay prosperous. The simple fact that Britain possessed a working banking system also served to aid Britain economically. Britain’s early urbanization also allowed it to carry out socialist reforms in the city in regards to the sanitation and overcrowdedness. It must also be noted that Britain’s Whigs in parliament compromised multiple times in regards to suffrage, seen in the Reform Bill of 1832 and 1867. Since Britain was not defeated by France during the Napoleonic era, its constitutional monarchy and parliament was able to stay in tact.
As a result of the United States joining the war in 1916, industry productions boomed. (Effects of WWI in America) Factories and manufacturers had to keep up with the growing demands of the war effort by solely producing weapons, tanks, airplanes, and any other necessary products. In order to produce more material in a short amount of time, new technologies were developed to help manufacturers meet the needs of the people and government. Also, more employment opportunities opened for women and African-Americans. With fewer healthy, working men in America, women became the main work force, largely employed in factories across the nation. (Effects of WWI in America) African-Americans also became popular in factories as they migrated to cities in search of job opportunities. As industries boomed during this time, so did the economy. According to David Jarmul, "Because World War One left Europe so devastated, industry boomed in the United States to fill the worldwide demand." By the end of World War One, the United States produced more goods and services than any other nation. (Jarmul) Americans had more coal, food, cloth, and steel than even the richest foreign countries. In 1920, the United States ' national income became greater than the combined incomes of France, Britain, Canada, Japan, Germany, and seventeen smaller countries. The Unite...
The glorious British Empire, at its height the most powerful régime in the world. Just a small island off the western coast of Europe, Britain grew to the span across the entire globe, effectively creating am Empire where the sun never set. Colonization, industrialization and a sense of nationalistic destiny drove the once expansive Empire. We still see effects of British imperialism today, which our global economy, as well as national tensions that germinated as a result of decolonization. Moreover, industrial revolution and push for independence manifested as a result of British influence. The same features that defined the British Empire, nationalism and commerce, lead to its demise.
World War I also changed America's economy and industries. When America joined the war, supplies like guns, ammunition, food, and uniforms were needed, so businesses stepped up to fill this demand. In addition, with most of the men at war, regular daily life halted and the rest of the people found jobs to help get su...