1913 depression

In 1913 the United States economy sunk into a recession.

What if during WW1 the US fell into an economic depression?

How would this affect US foreign and domestic policy? Entry into the war?

Thoughts?
 
Any recession is going to be short lived. The French, and (especially) British are going to be shoveling money to the US as fast as necessary to procure arms. A recession might actually expedite things, since there will be some "slack" in the economy.
 
In 1913 the United States economy sunk into a recession.

What if during WW1 the US fell into an economic depression?

How would this affect US foreign and domestic policy? Entry into the war?

Thoughts?
Any recession is going to be short lived. The French, and (especially) British are going to be shoveling money to the US as fast as necessary to procure arms. A recession might actually expedite things, since there will be some "slack" in the economy.

A favorite complaint of Republicans was that Wilson's "anti-business" policies and the Underwood Tariff caused the 1913-14 recession and that only the surge in war orders that began in 1914 pulled the country out. Their diagnosis of the causes of the recession was dubious, but they were right that the war helped end it. *However,* before the war had this effect it caused a panic in the US which seemed to seriously threaten the economy for a while. I wonder what would have happened if instead of McAdoo http://www.slate.com/articles/business/moneybox/2007/03/the_unknown_financial_superhero.html the US had a Secretary of the Treasury who thought that "the panic will take care of itself"...
 
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