Читать книгу Over Here and Over There - Harry Bobonich - Страница 35

In the thirty-two month period before we entered the war, the U.S. economy continued to grow significantly since the Allies were purchasing huge quantities of war supplies from us. By 1916, we were providing France, Great Britain and Russia with approximately forty percent of their war material. By the end of the year, however, the Allies were not able to pay for the desperate materials they needed to carry on the war. It was an important event when Secretary of the Treasury William Gibbs McAdoo signed the first of America’s loans to the bankrupt Allies. Those continuing loans by the U.S. (many of which were never repaid) kept the Allies war effort moving forward through to the Armistice.