What did Conant suggest as a means to get the US out of the depression brought on by the Panic of 1893, so as to prevent a socialist uprising

“The United States today seems about ready to enter upon a path marked out for them as the children of the Anglo-Saxon race….Almost as if by magic, the importance of naval power as the advance agent of commercial supremacy has flashed upon the mind of the country. The irresistible tendency towards expansion…which drove the Goths, the Vandals, and finally our Saxon ancestors in irresistible waves over the decadent provinces of Rome, seems again in operation, seeking new outlets for American capital…This new movement . . . is the result of a natural law of economic and race development. The great civilized people of the world have today at their command the means of developing the decadent nations of the world.

These means consist of the great excess of saved capital which is the result of machine production…how great this excess is at the present time… how necessary to the salvation of [the US] is an outlet for their surplus [products], if the entire fabric of the present economic order is not to be shaken by a social revolution. The law of self-preservation, as well as that of the survival of the fittest, is urging our people on in a path which is undoubtedly a departure from the policy of the past. Capital is no longer needed in excess of the supply.”

Question:

What did Conant suggest as a means to get the US out of the depression brought on by the Panic of 1893, so as to prevent a socialist uprising of the poor people in the US against the rich?

How did the US proceed to follow his advice ( give examples from Chapter V)

Answer preview for What did Conant suggest as a means to get the US out of the depression brought on by the Panic of 1893, so as to prevent a socialist uprising

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