Question

How did the Spanish American War effect the U.S. economy?

Answer 1

The Spanish-American war gave the United States for the first time an overseas Empire. Unable to pay the indemnity for the war, Spain withdrew from Cuba and gave the Philippines to the United States to pay for the war.

The war was in full aggreement with U.S visions at the time. U.S was pursuing an 'Open Door' policy which aimed at obtaining a wide range of economic opportunities in Asia. The ideas of an 'informal empire' were being pushed by Alfred Thayer Mahan who wrote a very influential book in which suggested the U.S should obtain an island chain of colonies for economic growth.

The war was also a fulfillment of the U.S aim of the Monroe Doctrine which aimed that the U.S should secure the Western hemisphere of colonial European rivalry which could infringe on U.S economic / political interests. This was one of the reasons why the U.S went to war against Spain - to kick the spanish out of nearby Cuba.

After the war, the U.S moved to annex Hawaii which was ruled by a Queen. Hawaii was controlled by U.S business interests, which pushed for Hawaii to be annexed by the U.S. But it was the Spanish-U.S war that finally gave the President Taylor and his VP Roosevelt, the opportunity to annex Hawaii.

The Spanish-American war was also the fulfillment regionally of the American vision of 'Manifest Destiny' in which the U.S expanded not only throughout america, but also globally. The U.S vision of being a 'city on a hill' or a beacon of truth and justice as envisioned by the puritans and by George Washington.

From the War, the U.S not only aquired Philipppines and also Hawaii, but also Samoa. The U.S also expanded its economic influence not only in Latin America, but also used its new colonies in SE Asia to push U.S interests throughout Asia, especially China and Japan.

But the aquirement of colonies now forced the U.S to act globally to protect its colonies and economic interests. Under Roosevelt, the U.S acted in Panama, pursued economic 'Open Door policy' in China, intervened to protect its interests and opportunities in Europe. The U.S is now moving towards a much more global approach in foreign policy - more than it did so in the past.

Answer 2

After the Civil War, the United States economy changed significantly. With a boost in industrialization, an ever-growing system of railroads, and western expansion, the newly unified nation enjoyed post-war prosperity. But by the 1870s, farmers and businessmen began to see just how vulnerable the United States economy was to depression. As factories spewed more and more manufactured products, the agricultural industry began to suffer. As conditions in farming regions began to worsen and fewer Americans were unable to afford all those manufactured goods, industrialists saw their own profits decline.

The economic downturn of the 1890s devastated agricultural business and depleted industrial profits, but factories continued to generate goods, far too many to be consumed by Americans strapped by unemployment. New waves of immigration exacerbated pressures on the economy and contributed to social strife, particularly in urban regions in the Northeast. But these newcomers provided factory employers with cheap labor that helped big industry maintain its rapid pace of production.

Business leaders, then, refused to reduce factory output. They proposed that the way to strengthen United States industry was not to produce less but to find more customers to buy goods. For this reason, many called for greater access to foreign markets, fewer restrictions on exports, and aggressive foreign policy in "underdeveloped" regions in which civilians, if educated, could become consumers.

This idea was in no way novel. Throughout the nineteenth century, many European nations sought to sell goods beyond their borders to maximize profits, create new jobs, and enhance national power abroad. The United States, until the 1890s, had expanded only within the North American continent. Foreign policy prescribed isolation from any and all turmoil abroad, but by the end of the century the U.S. federal government began to change its tune. A State Department memorandum in 1898 declared, "We can no longer afford to disregard international rivalries now that we ourselves have become a competitor in the world-wide struggle for trade."23 Such concerns laid the foundation for the marriage between business interests and U.S. foreign policy.

By 1900, the value of American exports was three times greater than it had been in the years following the Civil War. Exports only increased, and by World War I, the value of all goods shipped abroad was 67% greater than the value in 1900. Investments also ballooned. After the Spanish-American War, American investors poured billions into various projects in Latin America, Eastern Asia, and in the Philippines, including mines, railroads, and sugar, banana, and coffee plantations. Multinational corporations sprouted in the United States and supported federal expansionist or, as some historians have called it, imperialist foreign policy.

Answer 3

Great Job @MajicMuzyk But you should site ur sources if you got them off of the internet so that you are not accused of plagiarism c:

Answer 4

Ok. Thanks! @arabpride

Answer 5

No Problem ~ Glad I can Help c: