Wall Street Pushed America into World War I - 2690 Words

World War I: A War for Wall Street At the end of the 19th and into the beginning of the 20th century, Wall Street was gaining momentum as its influence expanded from commercial business into political affairs. The economy rapidly shifted from an agricultural to an industrial market, opening up opportunities for the United States to rise to the ranks of a world power. With the creation of an industrial market came the increase of wealthy owners with the funds to control an economy. These wealthy men would use their money to control the United States economy, helping with many economic crises that would come in the near future and placing themselves in the political scene of the United States. Wall Street was booming as a result of the new capitalistic culture and government did little to obstruct the growing businesses. Monopolies were formed, and exploitation of labor was a regular occurrence, but Wall Street had the influence to do what they desired. They exercised this power to push the United States into World War I. Wall Street loaned the Allies billions of dollars and needed the Allies to win the war. Thus, when President Woodrow Wilson was faced with the decision of whether or not to enter to war to support the Allied cause, the large business owners, particularly, J.P. Morgan, joined the debate both directly and indirectly, using their influence to sway the decision. Wall Street needed the Allies to win the war, and influenced United States’ entrance into WorldShow MoreRelatedTerrorism Is A Modern Political And Economic Topic On America1376 Words   |  6 PagesTerrorism has become a modern political and economic topic in America. It is the existence of Terrorists attacks in America that has changed the way people travels both domestic and foreign and also now viewed as an issue and conflicts that exist within the nation’s borders and domestically (Shemella, 373 ). 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