Pride, Prejudice, and Politics: Roosevelt Versus Recovery, 1933-1938

By Gary Dean Best | Go to book overview

CHAPTER 3
Rising Criticism

THE DECISION FOR ISOLATIONISM

That the United States would pursue its economic policies largely in isolation from the rest of the world was clear from Roosevelt's first venture into international economic relations. During the Hoover presidency, a World Economic Conference had been scheduled for the summer of 1933 in London at which the United States was to be a participant. The conference represented President Hoover's conviction that the depression, being international in scope, could be solved only by international cooperation. Inheriting the conference from his predecessor, Roosevelt met in preliminary conferences at the White House with assorted heads of state and financial ministers from the other participating nations. The statements that followed these preliminary meetings invariably encouraged the nation and the world in the belief that Roosevelt was committed to international cooperation for world economic recovery. A joint statement following a meeting between Roosevelt and the Canadian prime minister late in April was typical:

No one of these problems can be profitably dealt with in isolation from the others, nor can any single country accomplish a satisfactory solution. We therefore recognize the vital importance to mankind of the World Economic Conference, and the necessity of reaching, in the weeks which remain before it is convened, as great a measure of mutual understanding as possible. 1

However, Roosevelt had already demonstrated that his words were not always are reliable guide to his actions. At the same time that he seemed to be committing

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Pride, Prejudice, and Politics: Roosevelt Versus Recovery, 1933-1938
Table of contents

Table of contents

  • Title Page iii
  • Contents vii
  • Preface ix
  • Introduction xiii
  • Chapter 1 Dramatis Personae 1
  • Chapter 2 New Faces and New Fears 19
  • Chapter 3 Rising Criticism 37
  • Chapter 4 Delaying Recovery 55
  • Chapter 5 The First Roosevelt Depression, 1934 69
  • Chapter 6 The Supreme Court Rules 85
  • Chapter 7 An Air of Unreality 101
  • Chapter 8 Fueling a Boom 117
  • Chapter 9 The Election and Boom of 1936 131
  • Chapter 10 Megalomania and Mindlessness 143
  • Chapter 11 The Road to the Crash 157
  • Chapter 12 The Second Roosevelt Depression, I, 1937 175
  • Chapter 13 The Second Roosevelt Depression, II, 1938 189
  • Chapter 14 The Second Roosevelt Depression, III, 1939 203
  • Conclusion 217
  • Notes 225
  • Bibliography 255
  • Index 261
  • About the Author 269
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