Herbert Hoover And Economic Diplomacy

From 1921 to 1928, future president Hoover built the Commerce Department into one of the most influential forces in federal government. During this time, the United States became a major creditor to other nations, which in turn had a significant impact on power relations between nations. The Commerce Department also became a champion of American economic rights and independence from foreign commodities, and in the process became the guiding force in national economic policy.

This book examines Hoover's record as secretary of commerce (1921-9) and economic policy during his Presidency (1929-33).

This volume throws important new light upon a pivotal period of transition in the Anglo-American relationship and sets the stage for its equally dramatic transformation during and after the Second World War. Based upon extensive research in previously unpublished archival material on both sides of the Atlantic, for the first time this book offers a detailed and comprehensive analysis of the war debt problem from its origins at the end of the First World War until its final removal with the launch of Roosevelt's Lend-Lease programme in 1940-41. This work will be of great interest to diplomats and journalists, as well as to students and scholars of political, diplomatic, economic and international history.

In this book, Carl P. Parrini examines the evolution of United States economic diplomacy during a critical period in world history. After World War I, leaders were poised to begin "The American Century", when the United States would assume the dominant role as the world's foremost political, economic and military power. This was to be achieved by establishing harmonic relations with other nations-allowing leverage on minor economic goals, while maintaining U.S. interests on major objectives. This theory of foreign policy is often attributed to president Warren Harding or his Secretary of Commerce, Herbert Hoover. Yet, Parrini's study determines, nearly all decisions made with respect to international investment, allocation of raw materials, reparations, war debts, and tariffs, were based on earlier principles established by Woodrow Wilson's administration.