war debts

war debts.

This article discusses the obligations incurred by foreign governments for loans made to them by the United States during and shortly after World War I. For international obligations arising out of World War II, see lend-leaselend-lease,
arrangement for the transfer of war supplies, including food, machinery, and services, to nations whose defense was considered vital to the defense of the United States in World War II. The Lend-Lease Act, passed (1941) by the U.S.
..... Click the link for more information.
. As early as 1914 the United States began to extend credits for the purchase of American goods to the European Allies, and in 1915 the first of many long-term war loans was made to the Allied powers. In addition to loans made during the war itself, loans and credits were extended for several years after the armistice, both to allied and former enemy nations. All the debtor nations except Russia (where the USSR had replaced the Russian Empire) recognized their obligations. In 1922 the World War Foreign Debt Commission of the United States negotiated with 15 European countries and set the funded indebtedness, based on capacity to pay, at slightly more than $11.5 billion. A 62-year period of repayment was arranged for, and thus principal and interest charges would have amounted to more than $22 billion. The United States refused to reduce the debt further, but the serious European financial situation caused U.S. agreement on some reductions in 1925–26. Payments were made until 1931, largely out of the reparationsreparations,
payments or other compensation offered as an indemnity for loss or damage. Although the term is used to cover payments made to Holocaust survivors and to Japanese Americans interned during World War II in so-called relocation camps (and used as well to describe
..... Click the link for more information.
 that the Allies received from Germany. In 1931, in the face of the worldwide economic depression, President Hoover's proposal for a one-year moratorium on all intergovernmental obligations was adopted. In the Lausanne Pact of 1932 the debtors greatly reduced German reparations in the hope that the United States would release all claims. The United States refused. Six countries made token payments in 1933, but in 1934 all the debtors formally defaulted except Hungary, which paid interest until 1939, and Finland, which continued to pay in full.
References in periodicals archive ?
Tooze also shows convincingly that the war debts and reparations issues were not a sideshow but rather central to the history of the 1920s and early 1930s in Europe.
Jefferson denounced the "moneyed interests" and opposed Hamilton's plan to fund the Revolutionary War debts.
Britain finished paying off its US war debts less than 10 years ago (debts caused by German oppression) and paid a far greater debt than that, but the UK still kept up its defence commitment to Germany.
inter-allied war debts as "absolutely essential to the future
I cannot read How to Pay For the War and conclude that Keynes thought that high war debts were a "scarecrow" for the United Kingdom.
His recommendations for assuming the states' revolutionary war debts, refinancing the national debt, creating a national bank, and encouraging manufacturing constituted a detailed plan for the American economy.
Among the problems Hoover addressed as cabinet secretary included unemployment, the Russian famine, child health issues, flooding along the Mississippi River and in New England, the organization of industry by type, railroad reorganization, agricultural production and consumption, disorganization in the coal industry, electrical power generation and distribution, pollution, the eight-hour day in the steel industry, adequate and affordable housing, international trade, European war debts, the emergence of radio and aviation, and the status of fisheries.
Negotiations with the United States on a repayment plan and the terms of the agreement on funding the Estonian war debts in 1925 will also be examined.
It is believed the person was responding to a plea to the rich to help pay off Britain's First World War debts.
Despite heavy war debts, the true socialist Attlee Government proceeded with changes to the secondary school examination.
Pulen, William George (1987) World War debts and United States foreign policy 1919-1929.
Soon after the Korean conflict I remember seeing on the news that allied nations were forgiving each other's enormous war debts, one after another.