-
Reciprocal Trade Agreements Act
This act reversed traditional high-protective-tariff policies by allowing the president to negotiate lower tariffs with trade partners, without Senate approval. Its chief architect was Secretary of State Cordell Hull, who believed that tariff barriers choked off foreign trade. -
Havana Conference of 1940
The U.S. and its twenty neighboring countries agreed to share responsibility in upholding the Monroe Doctrine. -
War Production Board (WPB)
Established in 1942 by executive order to direct all war production, including procuring and allocating raw materials, to maximize the nations war machine. The WPB had sleeping powers over the U.S. economy and was abolished in November 1945 soon after Japan's defeat. -
GI Bill
Law that helped returning soldiers reintegrate into civilian life by securing loans to buy homes and farms and set up small businesses. Made tuitions and stipends available to attend college, as well as job training programs. -
Bretton Woods Conference
Meeting of western allies to establish a post-war international economic order to avoid crises like WWII. Led to the International Monetary Fund (IMF) and the World Bank, which helped underdeveloped countries. -
V-J (Victory in Japan) Day (August 15, 1945)
heralded the surrender of Japan in the final end to World War II.