British Policy and European Reconstruction after the First by Anne Orde

By Anne Orde

British coverage and ecu Reconstruction after the 1st international conflict is a research of the political economic system of Europe after 1919. Dr Orde offers a complete assessment of all points of reconstruction: monetary stabilization, credits, exchange and improvement. She indicates how rules have been a lot laid low with the attached difficulties of reparations and battle money owed. In all this, Britain, as a tremendous buying and selling kingdom and fiscal centre, weakened through the warfare yet much less bodily broken than many belligerents, performed a very important position which has no longer hitherto bought complete therapy. Dr Orde examines the interval among 1919 and 1924 in nice element, putting next occasions within the old context of wartime making plans and concludes with the overseas monetary convention of 1927. exact recognition is paid to public regulations and personal associations, quite banking.

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Later the aim came to be to secure for the British Empire the largest possible share of whatever total bill was to be laid upon Germany. Hints about sharing war costs and adjusting debts had, as has been seen, already been made to American officials and been rebuffed, and the British did not pursue the ideas at Paris. The French, on the other hand, tried to use the discussion of peace terms to secure help in reconstruction. After a last unsuccessful effort in December to persuade Hoover to adopt French ideas on controlling raw materials, Clementel advised that the way to secure a socially and economically just peace was for the associated countries to take measures in common to restore to a position of economic equality the countries which had suffered most, secure supplies, and enable debts to be paid.

82 And the Secretary of the Treasury, William McAdoo, replied to Crosby that whilst he was inclined to agree about restricting the activities of the inter-Allied bodies, the advantages of cooperation in some situations should not be ignored and he was ready to 78 79 80 81 82 Hoover to Cotton, 7 Nov. , Bane and Lutz, Organisation of American Relief, pp. 32-3, 38-9; FRUS, 1918, Suppl. I, Vol. 1, pp. 616-17. Cited in Michael Hogan, 'The United States and the problem of international economic control: American attitudes towards European reconstruction, 1918-20', in Pacific Historical Review, 44 (1975), pp.

Cravath to Leffingwell and Rathbone, 22 Nov. 1/1451. 84 The question of financing reconstruction will be discussed in the next chapter. 87 The proposal was sent to the Allies and the Americans, but whilst the French and the Italians agreed, even this amount of integration was more than the Americans would accept. House thought that as the bulk of relief supplies would come from the United States, American control was essential. Hoover, whose opinion of European civil servants was low, considered that an international relief board 'could only mean disaster', and that the Allies hoped to use American sympathy for European distress as a bargaining counter in negotiating with the President.

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