Economic History of the U. S. Econ 1740, Class Time Line. Part 1: The Colonial Era; 1607 – 1776



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Woodrow Wilson elected President


After the election of 1912, Woodrow Wilson became the 28th President of the United States. He would lead our country throughout the First World War and also passed the legislative that created income tax.

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Assassination of Austrian Archduke Ferdinand- June 28th 1914


On June 28th Archduke Ferdinand of Austria was assassinated by a group of 6 Serbians in the Austrian town of Sarajevo. In response to the assassination, Austria along with its allies Hungary declared war against Serbia and ultimately led to the start of the First World War. arch duke.jpg

British Blockade


The blockade of Germany was done by the British Navy during and after the First World War from 1914-1919.


Germany Sinks British Ship- May 7th 1915


On May 7th 1915, German submarines sank the British ship, the Lusitania, which killed 1,200 people out of 1,900 people on board, including 128 Americans. This act became a key factor in turning public opinion against Germany and enraged Americans because of the American civilians that were killed in the attack. This would contribute as one of the factors for America declaring war against Germany and its allies. sinking of the lusitania.jpg

Federal Aid Road Act


Was an act that made the U.S. gov. to spend money to build roads.

The 1916 Minnesota Miner’s strike against US Steel


Strikers wanted a higher wage but because the employers didn’t meet their demands, they continued to strike. Since the strikers failed, the employers just ended firing them.  


Federal Farm Loan Act


Established 12 long-term land banks to provide to farmers on July 17th 1916


US Declares War


After the sinking of the British ship the Lusitania, American opinion about Germany turned mostly negative and the thought of imminent war drew closer. Then on April 6th 1917, after two and a half years of keeping neutral, the United States declared war on Germany and its allies and entered itself into the First World War.us declares war 1917.jpg

Lever Food and Fuel Control Act


Congress passed this act in 1917 and appointed Herbert Hoover as the food and fuel Administrator. The purpose was to ensure an adequate food supply domestically and to our allied countries while maintaining an equilibrium price-point.


U.S Draft


The Selective Service Act went to effect in May of 1917. The guidelines of the act included that all males 21-30 were required to register for military service for the United States. By the end of World War 1, more than 2.8 million men were drafted into the various branches of the military.ww1 draft.jpg

Prohibition Act


The act took place in 1917 where it prohibited alcohol.


War Revenue act


The war revenue act was passed on October 3rd 1917 and greatly increased income tax in order to raise more money for the war effort.


18th Amendment proposed


The 18th amendment was used to prohibit the use/making/disrupting any kind of intoxicating liquors.


Year of Strikes


In 1917, there was a total of about 4,450 strikes due to low wages and bad working conditions.



War Industries Board


President Wilson reorganized the War Industries Board with Bernard Baruch as the head. This board was established for the sake of the supply of goods necessary to fuel the war. They used a system called bulk-line pricing to urge efficiency within the supplying manufacturers and reduce cost of raw material.


Treaty of Versailles


The Treaty of Versailles was one of the first peace treaties that would end the First World War. The Treaty was signed on June 28th 1919, exactly 5 years after the assassination of Archduke Ferdinand, and ended the state of war between Germany and the Allied powers.treaty of versailles.jpg

Volstead Act


Took place to tighten the enforcement of the prohibition act.


Ponzi Scheme


Ponzi was an Italian immigrant who made a statement that if people invested into him he could find a way to make a stamp from Italy be able to be used in the U.S and be sold at a higher price.




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