(MUSIC)
MARIO RITTER: Hoover withdrew American forces from Nicaragua. He also arranged to withdraw them from Haiti. And he showed restraint as some fifty revolutions shook the nations of Latin America.
Some revolutionary governments opposed the United States. They refused to pay debts to American companies, or they claimed ownership of foreign property. But Hoover refused to advance American interests by force. He wanted to prove that the United States could treat Latin American nations as equals.
That policy was quite successful. Relations between the United States and Latin American countries generally improved under Herbert Hoover's leadership.
CHRIS CRUISE: The situation in Europe was much more difficult and much more serious for the United States. The problem was simple -- money. The Great Depression did not stop at America's borders. It moved to Britain, Europe and beyond. And it brought extremely hard economic conditions.
In Germany, the value of the national currency collapsed. Inflation forced people to buy goods with hundreds, thousands, even millions of German marks. They lost faith in the system. And they looked for some new leader to provide solutions.
The economic crisis also put great pressure on the international circle of debt that had been created after the war. Suddenly, American bankers could no longer make loans to Germany. This meant that Germany could not pay back war debts to France and the other Allied nations in "the war to end all wars." And without this money, the Allied nations could not repay money that they owed American banks.
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2013-11-25
2013-11-25
2013-11-25
2013-11-25
2013-11-25
2013-11-25