World War I - Impact on the Economy
World War I had a tremendous impact on the U.S. economy.
- First, many businesses and factories which had been developed to build war supplies, were converted after the war into thriving businesses. Instead of building tanks, guns and airplanes, they began making cars, refrigerators and many other useful items.
- Second, many women joined the war effort and at the same time fought for their rights. As a result, after the war the 19th amendment gave women the right to vote. In addition with women working, more people were making money and as a result more money was spent. This made the economy thrive even more.
- Third, people continued to pour into cities. Rather than trying to make everything they needed to survive, many people now had some money and could afford to live in a city and pay for food and other necessities.
- Fourth, many countries in Europe were broke after the war and they asked the United States, which was thriving, to lend them money. This helped propel the U.S. into even greater economic success.
- Finally, because businesses were doing well and people had money, people had money to invest in stocks. This caused businesses to boom further.
- The Roaring Twenties had arrived.
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World War I
The United States did their very best to ignore the fighting that was taking place in Europe. World War I began in 1914 when the Archduke Ferdinand of Austria Hungary was assassinated. Countries continued to join the war in support of their allies. The United States did not want to join the war. Then on May 1, 1915 the Germans sunk the Lusitania, a passenger ship, killing 128 American citizens. The U.S. was outraged, but still did not join the war when Germany promised to not attack any more American ships. However, in 1917 the Germans began attacking more ships and the United States joined the Great War. The war ended on November 11, 1918, when the Treaty of Versailles was signed. The war was over, but nobody really won and it was only a matter of time before the conflict continued
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America Ultimately Joins the Fight Against Germany
U.S. Entered World War I
April 6, 1917
Disagreements in Europe over territory and boundaries, among other issues, came to a head with the assassination of the Archduke Ferdinand of Austria by a Serbian zealot on June 28, 1914. Exactly one month later, war broke out. In 1915, the British passenger liner the Lusitania was sunk by a German submarine, killing 128 Americans and futher heightening tensions. By the end of 1915, Austria-Hungary, Bulgaria, Germany, and the Ottoman Empire were battling the Allied Powers of Britain, France, Russia, Italy, Belgium, Serbia, Montenegro and Japan. In 1917, the U.S. entered the war. Germany formally surrendered on November 11, 1918, and all nations agreed to stop fighting while the terms of peace were negotiated.
April 6, 1917
Disagreements in Europe over territory and boundaries, among other issues, came to a head with the assassination of the Archduke Ferdinand of Austria by a Serbian zealot on June 28, 1914. Exactly one month later, war broke out. In 1915, the British passenger liner the Lusitania was sunk by a German submarine, killing 128 Americans and futher heightening tensions. By the end of 1915, Austria-Hungary, Bulgaria, Germany, and the Ottoman Empire were battling the Allied Powers of Britain, France, Russia, Italy, Belgium, Serbia, Montenegro and Japan. In 1917, the U.S. entered the war. Germany formally surrendered on November 11, 1918, and all nations agreed to stop fighting while the terms of peace were negotiated.
Propaganda Helps WWI
After trying to stay out of the war for as long as they could the United States began a mass propaganda campaign trying to gain support for World War I. The hit song "Over There" became one of the most popular songs of this movement. In addition posters and advertisements in newspapers and magazines attempted to get men to join the war effort and women to help by working in factories or becoming nurses.
The End of WWI
The Treaty of Versailles was signed on November 11, 1918, which is now known as Armistice Day. The treaty ended the war but didn't end the problems that existed in Europe. Germany was required to claim full responsibility for the war, disarm all of its military and pay billions of dollars to repair the damages caused by the war. Germany was never able to repay most of the money and eventually all of the problems that still existed reemerged when Adolf Hitler and the Nazi party took control of Germany in the 1930's. World War II was inevitable. Watch the video to learn about the Treaty of Versailles and how World War I ended.
