Paris Economy Pact
Encyclopedia
Paris Economy Pact was an international economic agreement reached at the Paris Economic Conference held in June 1916 in Paris, France. The meeting, held at the height of World War I
, included representatives of the Allied Powers
: Great Britain
, France
, Italy
, and Russia
.
The pact was intended to isolate the Central Powers
, the German Empire
, the Austrian-Hungarian Empire, the Ottoman Empire
and the Kingdom of Bulgaria
. The Allied Powers envisioned isolating the Central Powers
through trade sanctions after the war. A standing body, the Comité Permanent International d'Action Économique, based in Paris, was established to monitor the implementation of the pact.
This pact was of great concern to the United States government, led by the Wilson Administration, which saw the continued fragmentation of Europe to be a risk for continued conflict. U.S. Secretary of State Robert Lansing
asked the staff of the U.S. Embassy in Paris to monitor the proceedings (the United States, having not yet entered the war, was not part of the Allied Powers
). The issue of central concern to the United States was that this pact included schemes for subsidization and government ownership of manufacturing enterprises and the division of European markets for the pact participants.
The outcome of the 1916 Paris Economic Conference foreshadowed the conflict between the United States and the Allied Powers
during the Paris Peace Conference
.
The past concern of the U.S. government with this Pact are fossilized even today in the United States Code
, in Title 19, Section 1332(c), which gives the U.S. International Trade Commission the "power to investigate the Paris Economy Pact and similar organizations and arrangements in Europe."
World War I
World War I , which was predominantly called the World War or the Great War from its occurrence until 1939, and the First World War or World War I thereafter, was a major war centred in Europe that began on 28 July 1914 and lasted until 11 November 1918...
, included representatives of the Allied Powers
Allies of World War I
The Entente Powers were the countries at war with the Central Powers during World War I. The members of the Triple Entente were the United Kingdom, France, and the Russian Empire; Italy entered the war on their side in 1915...
: Great Britain
Great Britain
Great Britain or Britain is an island situated to the northwest of Continental Europe. It is the ninth largest island in the world, and the largest European island, as well as the largest of the British Isles...
, France
France
The French Republic , The French Republic , The French Republic , (commonly known as France , is a unitary semi-presidential republic in Western Europe with several overseas territories and islands located on other continents and in the Indian, Pacific, and Atlantic oceans. Metropolitan France...
, Italy
Italy
Italy , officially the Italian Republic languages]] under the European Charter for Regional or Minority Languages. In each of these, Italy's official name is as follows:;;;;;;;;), is a unitary parliamentary republic in South-Central Europe. To the north it borders France, Switzerland, Austria and...
, and Russia
Russia
Russia or , officially known as both Russia and the Russian Federation , is a country in northern Eurasia. It is a federal semi-presidential republic, comprising 83 federal subjects...
.
The pact was intended to isolate the Central Powers
Central Powers
The Central Powers were one of the two warring factions in World War I , composed of the German Empire, the Austro-Hungarian Empire, the Ottoman Empire, and the Kingdom of Bulgaria...
, the German Empire
German Empire
The German Empire refers to Germany during the "Second Reich" period from the unification of Germany and proclamation of Wilhelm I as German Emperor on 18 January 1871, to 1918, when it became a federal republic after defeat in World War I and the abdication of the Emperor, Wilhelm II.The German...
, the Austrian-Hungarian Empire, the Ottoman Empire
Ottoman Empire
The Ottoman EmpireIt was usually referred to as the "Ottoman Empire", the "Turkish Empire", the "Ottoman Caliphate" or more commonly "Turkey" by its contemporaries...
and the Kingdom of Bulgaria
Kingdom of Bulgaria
The Kingdom of Bulgaria was established as an independent state when the Principality of Bulgaria, an Ottoman vassal, officially proclaimed itself independent on October 5, 1908 . This move also formalised the annexation of the Ottoman province of Eastern Rumelia, which had been under the control...
. The Allied Powers envisioned isolating the Central Powers
Central Powers
The Central Powers were one of the two warring factions in World War I , composed of the German Empire, the Austro-Hungarian Empire, the Ottoman Empire, and the Kingdom of Bulgaria...
through trade sanctions after the war. A standing body, the Comité Permanent International d'Action Économique, based in Paris, was established to monitor the implementation of the pact.
This pact was of great concern to the United States government, led by the Wilson Administration, which saw the continued fragmentation of Europe to be a risk for continued conflict. U.S. Secretary of State Robert Lansing
Robert Lansing
Robert Lansing served in the position of Legal Advisor to the State Department at the outbreak of World War I where he vigorously advocated against Britain's policy of blockade and in favor of the principles of freedom of the seas and the rights of neutral nations...
asked the staff of the U.S. Embassy in Paris to monitor the proceedings (the United States, having not yet entered the war, was not part of the Allied Powers
Allies of World War I
The Entente Powers were the countries at war with the Central Powers during World War I. The members of the Triple Entente were the United Kingdom, France, and the Russian Empire; Italy entered the war on their side in 1915...
). The issue of central concern to the United States was that this pact included schemes for subsidization and government ownership of manufacturing enterprises and the division of European markets for the pact participants.
The outcome of the 1916 Paris Economic Conference foreshadowed the conflict between the United States and the Allied Powers
Allies of World War I
The Entente Powers were the countries at war with the Central Powers during World War I. The members of the Triple Entente were the United Kingdom, France, and the Russian Empire; Italy entered the war on their side in 1915...
during the Paris Peace Conference
Paris Peace Conference, 1919
The Paris Peace Conference was the meeting of the Allied victors following the end of World War I to set the peace terms for the defeated Central Powers following the armistices of 1918. It took place in Paris in 1919 and involved diplomats from more than 32 countries and nationalities...
.
The past concern of the U.S. government with this Pact are fossilized even today in the United States Code
United States Code
The Code of Laws of the United States of America is a compilation and codification of the general and permanent federal laws of the United States...
, in Title 19, Section 1332(c), which gives the U.S. International Trade Commission the "power to investigate the Paris Economy Pact and similar organizations and arrangements in Europe."
See also
- Treaty of VersaillesTreaty of VersaillesThe Treaty of Versailles was one of the peace treaties at the end of World War I. It ended the state of war between Germany and the Allied Powers. It was signed on 28 June 1919, exactly five years after the assassination of Archduke Franz Ferdinand. The other Central Powers on the German side of...
- League of NationsLeague of NationsThe League of Nations was an intergovernmental organization founded as a result of the Paris Peace Conference that ended the First World War. It was the first permanent international organization whose principal mission was to maintain world peace...
- World War I reparationsWorld War I reparationsWorld War I reparations refers to the payments and transfers of property and equipment that Germany was forced to make under the Treaty of Versailles following its defeat during World War I...
- Atlantic CharterAtlantic CharterThe Atlantic Charter was a pivotal policy statement first issued in August 1941 that early in World War II defined the Allied goals for the post-war world. It was drafted by Britain and the United States, and later agreed to by all the Allies...