World War Financing 4-14-25

The US was spared from damage in the World Wars because of its expansion that gave us borders from the Atlantic to Pacific.

World War I 1914-1918

World War I was devastating in Europe.  The US provided Military Equipment to European Allies from 1914 to 1916 and joined the War in 1917 to help allies win in 1918.

Germany made its final payment for World War I reparations, settling the outstanding debt from the 1919 Treaty of Versailles, on October 3, 2010, the 20th anniversary of German reunification. 

Here's a more detailed breakdown:

Treaty of Versailles: The treaty, signed in 1919, placed the blame for World War I on Germany and required them to pay reparations to the Allied nations. 

Reparations Burden: The reparations were a vast sum, fixed at 6.6 billion pounds in 1921, which many historians argue was beyond Germany's ability to pay. 

Post-WWII Payments:  Following World War II, West Germany resumed payments, but some debts were not to be paid off until Germany reunified. 

London Agreement:  In 1953, the London Agreement on German External Debts resulted in an agreement to pay 50 percent of the remaining balance. 

Final Payment: The final payment, settling German loan debts in regard to reparations, was made on October 3, 2010, the 20th anniversary of German reunification. 

Symbolic Significance:  Historians and some Germans viewed this final payment as a symbolic closing of the Treaty of Versailles and a chapter of the conflict that shaped the 20th century. 

 

World War II 1939-1945

World War II was devastating to Europe. The US provided Military Equipment to European Allies from 1939 to 1941 and joined the War in 1941 to help the Allies win in 1944. The Atom Bomb ended the War with Japan in 1945.

The final payment of the Anglo-American loan, used to finance British war efforts during World War II, was made on December 29, 2006, after a series of payments were suspended due to impractical exchange rates. 

Here's a more detailed breakdown:

The Loan: The United States provided loans to the United Kingdom to help finance its war efforts during World War II. 

Repayment: After the war, the UK agreed to repay these loans, but faced difficulties due to fluctuating exchange rates, leading to some payments being suspended. 

Final Payment: The final payment, totaling about $83 million to the United States and $23.6 million to Canada, was made on December 29, 2006, after a six-year delay. 

Other Debts: The Soviet Union also repaid a portion of its Lend-Lease debt, with the remainder written off. 

German Reparations: After World War II, Germany was also obligated to pay reparations, but the payments were often paused and reduced, with the final installment for World War I debts being paid on October 3, 2010. 

Norb Leahy, Dunwoody GA Tea Party Leader