war debts

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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.
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. 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
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 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.
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References in periodicals archive ?
Lend lease and only recently paid war debt testify to hard economic realities, not just apparent sympathy.
Young people should remember that it is just 60 years since Parliament decided that the future for rail travel was bleak, and think how disastrous that decision (which was partly due to a war debt engendered by being 'the first of the few') was for our country.
He accepted the Treasury post for the opportunity to extinguish the Revolutionary War debt, "the great dogma of the Democratic principle," in the words of Henry Adams--Gallatin's first, perhaps still best, and certainly least accessible biographer--whose The Life of Albert Gallatin (1879) offers majestic English prose and a fine narrative arc, but also dozens of pages of untranslated French and much undigested source material.
While Parliament's alpha males were busy plunging the country into war debt - by her death Britain was in debt by foreign wars to the tune of PS54 million (in today's money PS 5.6 billion), paid an annual interest of PS3.5 million (PS365 million) and teetered on the edge of bankruptcy, all of which made the expansion of the East India Company and influence in global trade more important.
The Constitutional movement started in the Virginia legislature arising out of Madison's attempt from 1784-87 to get the national war debt paid and in reaction to the dominance and policies of Patrick Henry.
In order to do this we had to borrow from the USA and only managed to pay off our war debt in 2006.
The Durham Union Society debated issues relating to war debt, disarmament, the League of Nations, nationalism and internationalism.
And presumably we'll be getting our affordable, good-quality council houses back, of course, like the ones built in the 1940s when the economy was so much smaller and heavy with war debt but which were sold off and then repossessed in the buy-yourhome scam of the 80s.
As a reward for the efforts of Monnet and France, the United States waived their war debt, they didn't waive ours.
As Keynes saw it, the war debt would give the United
I would further point out that by 1980 we had paid off our war debt.
Letto wonders, for example, if it might have made a difference to Alderdice if he had known of the British discussions with the Americans about the British war debt at the time he was negotiating with the British in late 1933.