|
|
World War I was called the ‘war to end all wars,’ and to Wilson, the only other alternative to ‘peace without victory.’ Fortunately, America and it’s allies were able to put a cap on Germany and their cronies. Wilson came out of the war with not only a victory on the battlefield, but also scored a partial triumph in domestic welfare as well. When war erupted in Europe, the U.S. market economy was at a downturn, consumers spent less and jobs were increasingly hard to find. However, things soon turned around when America’s trade with it’s allies quadrupled between 1914 and 1917. J.P. Morgan and other American bankers were sought for loans by the French and the British and the total amount came to roughly 3 billion.
|
