Wwi notes Becoming a World Power



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Organizing the Economy

- War Industries Board (WIB) created by Wilson in 1917

- Clearinghouse for industrial mobilization to support the war effort

- Handed out $14.5 billion in payment contracts

- Food & Fuel act: President can regulate the production & distribution of food

- Food administration led by Herbert Hoover, a millionaire engineer

- Hoover put price controls on pork, sugar, wheat, and other agricultural commodities

- Bought by govt. & sold through dealers

- Hoover refused to impose mandatory rationings

- Many Americans cut back on wheat and meat, began growing own veggies, etc

- Graduated Income Tax was lowered to pay off the $30 billion + war cost

- Federal Debt jumped from $1 billion in 1915 to $20 billion in 1920






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