American Financing of World War 1

This book is a scholarly treatment of the subject which is very succinctly described in the title. The study is divided into three parts which are interrelated. First, the immediate pre-war (in U.S. terms) years 1914 - 1916. In this period there occurred the panic at the outbreak of war, the recovery shortly afterwards, and the prosperity of the neutrality period. Secondly, the book deals with the financing of the war effort in the period 1916 - 1920. These years cover the period of preparedness, the period of belligerency, and the immediate post-war years when some measures were still in effect. The third part discusses the effect of war finance on the economy both during and after the war period. This may be a study of American financing in a British collection, but it is important in the understanding not only of the financing of the U.S. war effort but also it should help the reader in the understanding of the U.S.'s growth as a world power - as the author says - "World War One was the first major war participated in as a truly industrialized nation".