Who still owes what

Discussions on the economic history of the nations taking part in WW2, from the recovery after the depression until the economy at war.
Sid Guttridge
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Joined: 12 Jun 2008 11:19

Re: Who still owes what

Post by Sid Guttridge » 07 Jun 2017 18:19

I suspect that France doesn't owe the UK anything for WWI.

France paid off its reparations to Germany after the Franco-Prussian War prematurely, so I doubt it has since short changed its major ally, with which it has had entirely normal financial relations for a good century.

However, there are apparently some Latin American countries that still owe the UK for bankrolling their independence wars in the 1810s and 1820s.

Cheers,

Sid

Tomg44
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Posts: 147
Joined: 12 Dec 2008 11:10

Re: Who still owes what

Post by Tomg44 » 21 Jun 2017 11:49

This might help.
http://www.cnbc.com/2015/03/18/who-stil ... -wars.html

Looking at these figures, the French seem to have been the problem.
War Debt.JPG
This sounds like a debt reschedule. Had they been able to cover their obligations,
this (1926) agreement would not have been required.
War Debt 1.JPG
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Peter
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Location: Europe

Re: Who still owes what

Post by Peter » 21 Jun 2017 14:25

Thank you Tomg44, so does this mean that Great Britain had effectively allowed the French to avoid repayment of $3 billion (1926) ? I shall try to research the 1926 agreement. Thanks for your help.

Peter
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Joined: 24 Nov 2002 11:13
Location: Europe

Re: Who still owes what

Post by Peter » 21 Jun 2017 15:03

Apparently much is detailed in Hansard pages 5 and 6 of the Financial Statement (1936–37), House of Commons Paper No. 77. This doesn't seem to be readily available on line however I shall keep digging. Thanks for the lead.

Tomg44
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Joined: 12 Dec 2008 11:10

Re: Who still owes what

Post by Tomg44 » 21 Jun 2017 16:34

Hi Peter,
Sorry, I just came across the reference in Google books. At the time gold was valued at $35 an ounce. $3 billion represents a lot of ounces!
Given that the British had returned to the Gold Standard, it seems unlikely that they would have entirely retired the debt. My best guess would be some combination of retiring some, reducing the interest rate, and extending the period for repayment . I'll be interested in any information which you find.
Good luck!

Peter
Financial supporter
Posts: 4527
Joined: 24 Nov 2002 11:13
Location: Europe

Re: Who still owes what

Post by Peter » 22 Jun 2017 11:24

Thanks Tom
I am waiting on a fellow researcher who has access to Hansard and will copy relevant sections from 1936/37, 1947 and 1958. I will post the information when it arrives with me.

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