THE FIRST WORLD WAR as reported in the daily news
Moderators: DuncaninFrance, Niner Delta
Re: THE FIRST WORLD WAR as reported in the daily news
Times are getting tough in the US. Sugar is being rationed. Only three pounds per person per month! Wonder how much they used before the rationing. But at lease explosives and ant poison wouldn't be affected.
https://chroniclingamerica.loc.gov/lccn ... d-1/seq-1/
https://chroniclingamerica.loc.gov/lccn ... d-1/seq-1/
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Re: THE FIRST WORLD WAR as reported in the daily news
All the rumors fit to print. If this head line had been held off until July 17th it would be more or less true....but not yet.
https://en.wikipedia.org/wiki/Execution ... nov_family
https://chroniclingamerica.loc.gov/lccn ... d-1/seq-1/
https://en.wikipedia.org/wiki/Execution ... nov_family
https://chroniclingamerica.loc.gov/lccn ... d-1/seq-1/
Re: THE FIRST WORLD WAR as reported in the daily news
This war isn't cheap. No wonder they were beating the drum for war bonds. The national debt had to have been growing enormously.
https://chroniclingamerica.loc.gov/lccn ... d-1/seq-1/
https://chroniclingamerica.loc.gov/lccn ... d-1/seq-1/
- DuncaninFrance
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Re: THE FIRST WORLD WAR as reported in the daily news
So you can imagine what it has cost Great Britain and France so far
Duncan
What contemptible scoundrel has stolen the cork to my lunch? -- W.C. Fields
"Many of those who enjoy freedom know little of its price."
You can't fix Stupid, but you can occasionally head it off before it hurts something.
What contemptible scoundrel has stolen the cork to my lunch? -- W.C. Fields
"Many of those who enjoy freedom know little of its price."
You can't fix Stupid, but you can occasionally head it off before it hurts something.
Re: THE FIRST WORLD WAR as reported in the daily news
Britain and France were borrowing from the US. What did they care?
At the beginning of the 20th century the national debt stood at around 30 percent of GDP.[5] However, during World War I the British Government was forced to borrow heavily in order to finance the war effort. The national debt increased from £650m in 1914 to £7.4 billion in 1919.[7]
Britain borrowed heavily from the US during World War I, and many loans from this period remain in a curious state of limbo. In 1931, President Herbert Hoover announced a one-year moratorium on war loan repayments from all nations, due to the global economic crisis, but by 1934 Britain still owed the US $4.4bn of World War I debt (about £866m at 1934 exchange rates). Adjusted for inflation, that would amount to around £40bn today, and if adjusted by the growth of British GDP, to about £225 billion. During the Great Depression Britain ceased payments on these loans, but outstanding bonds such as the War Loan were finally paid off in 2015.[8][9]
- DuncaninFrance
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Re: THE FIRST WORLD WAR as reported in the daily news
It takes two to tango..........Someone has to lend to allow someone to borrow and they don't do it for love no matter what anyone said.
As is noted at the bottom of that piece, outstanding bonds such as the War Loan were finally paid off in 2015.
As is noted at the bottom of that piece, outstanding bonds such as the War Loan were finally paid off in 2015.
Duncan
What contemptible scoundrel has stolen the cork to my lunch? -- W.C. Fields
"Many of those who enjoy freedom know little of its price."
You can't fix Stupid, but you can occasionally head it off before it hurts something.
What contemptible scoundrel has stolen the cork to my lunch? -- W.C. Fields
"Many of those who enjoy freedom know little of its price."
You can't fix Stupid, but you can occasionally head it off before it hurts something.
Re: THE FIRST WORLD WAR as reported in the daily news
Americans never met a war that they didn't want to finance or participate in, or both. WWII, while Britain was still paying off WWI required more borrowing:
The question in my mind is..... how did the Germans finance WWI or later WWII? Maybe an enormous inflation in German currency had something to do with nullifying the German war debt? Maybe the territory it captured provided wealth convertible into war material?
https://en.wikipedia.org/wiki/History_o ... ional_debtDuring World War II the Government was again forced to borrow heavily in order to finance war with the Axis powers. By the end of the conflict Britain's debt exceeded 200 percent of GDP, as it had done after the end of the Napoleonic Wars.[5] As during World War I, the US again provided the major source of funds, this time via low-interest loans and also through the Lend Lease Act. Even at the end of the war Britain needed American financial assistance, and in 1945 Britain took a loan for $586 million (about £145 million at 1945 exchange rates), and in addition a further $3.7 billion line of credit (about £930m at 1945 exchange rates). The debt was to be paid off in 50 annual repayments commencing in 1950. Some of these loans were only paid off in the early 21st century. On 31 December 2006, Britain made a final payment of about $83m (£45.5m) and thereby discharged the last of its war loans from the US.
By the end of World War II Britain had amassed an immense debt of £21 billion. Much of this was held in foreign hands, with around £3.4 billion being owed overseas (mainly to creditors in the United States), a sum which represented around one third of annual GDP.[10]
The question in my mind is..... how did the Germans finance WWI or later WWII? Maybe an enormous inflation in German currency had something to do with nullifying the German war debt? Maybe the territory it captured provided wealth convertible into war material?
- DuncaninFrance
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Re: THE FIRST WORLD WAR as reported in the daily news
Tea is why America never had an Empire
Duncan
What contemptible scoundrel has stolen the cork to my lunch? -- W.C. Fields
"Many of those who enjoy freedom know little of its price."
You can't fix Stupid, but you can occasionally head it off before it hurts something.
What contemptible scoundrel has stolen the cork to my lunch? -- W.C. Fields
"Many of those who enjoy freedom know little of its price."
You can't fix Stupid, but you can occasionally head it off before it hurts something.
- Niner Delta
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Re: THE FIRST WORLD WAR as reported in the daily news
We wanted the countries that had coffee beans....
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Peace is that brief, quiet moment in history.......... when everybody stands around reloading.