or
Sign in to turn on 1-Click ordering.
More Buying Choices
Have one to sell? Sell yours here
Sorry, this item is not available in
Image not available for
Colour:
Image not available

 
Tell the Publisher!
Id like to read this book on Kindle

Don't have a Kindle? Get your Kindle here, or download a FREE Kindle Reading App.

Financing the First World War [Paperback]

Hew Strachan

RRP: 22.00
Price: 21.77 & FREE Delivery in the UK. Details
You Save: 0.23 (1%)
o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o
In stock.
Dispatched from and sold by Amazon. Gift-wrap available.
Want it tomorrow, 26 July? Choose Express delivery at checkout. Details

Book Description

14 Oct 2004 The First World War
To Arms is Hew Strachan's most complete and definitive study of the opening of the First World War. Now, key sections from this magisterial work are published as individual paperbacks, each complete in itself, and with a new introduction by the author. This volume is the first full history of how the war was financed. It resulted in hyper-inflation in the 1920s and, in due course, in New York's displacement of London as the world's money market. Its effects are still with us today.



Product details


More About the Author

Discover books, learn about writers, and more.

Product Description

About the Author

Hew Strachan is Chichele Professor of the History of War, University of Oxford.

Sell a Digital Version of This Book in the Kindle Store

If you are a publisher or author and hold the digital rights to a book, you can sell a digital version of it in our Kindle Store. Learn more

What Other Items Do Customers Buy After Viewing This Item?


Customer Reviews

There are no customer reviews yet on Amazon.co.uk.
5 star
4 star
3 star
2 star
1 star
Most Helpful Customer Reviews on Amazon.com (beta)
Amazon.com: 4.0 out of 5 stars  1 review
6 of 6 people found the following review helpful
4.0 out of 5 stars How combatant nations actually paid for WWI 10 Jun 2005
By George Coppedge - Published on Amazon.com
Format:Paperback
This exhaustively researched book by Hew Strachan examines how the principal combatant nations during WWI (UK, France, Russia, Italy, Germany, Austria-Hungary, Bulgaria, and the Ottoman Empire) raised funds to pay for the war. Chapters in the book include: The Gold Standard, Financial Mobilization, The Loss of Budgetary Control, Taxation, Domestic Borrowing, and Foreign Borrowing.

'The Gold Standard' explains the widely-accepted theory and practice of the pre-war international gold standard, which all the combatants were on prior to the war. In 'Financial Mobilization' Strachan relates how each nation rapidly reacted to the 1914 August crisis, through overnight doubling of interest rates, suspensions of gold convertibility, restrictions on international funds transfers, closing of stock exchanges, etc. The following chapter, 'The Loss of Budgetary Control' recounts how the immediate, insatiable, and highly volatile demands of total war continually frustrated attempts at financial forecasting, planning, and budgeting.

In 'Taxation', Strachan does a great job of investigating and explaining different taxation schemes, not merely used to finance the war but also to control spiraling inflation. Specifically, he discusses various taxes - income tax, war profits tax, consumption tax, supertax, luxury tax, land tax, state monopolies, etc. - and how well they performed in raising money and controlling inflation.

The last two chapters, 'Domestic Borrowing' and 'Foreign Borrowing', explain how gov'ts loaned from banks, issued treasury bills, and floated war bonds. In addition, they discuss their effects on instigating/controlling inflation, interest rates, money supply, creditworthiness, and their ability to procure badly-needed foreign goods.

For a relatively short book (227 pages), Strachan manages to cover a lot of ground - it is packed full of information. I enjoyed the book, but I found it difficult to follow some of the financial jargon (and I have a finance degree). Also, the chapters should be subdivided by nation. This thorough book cries out for some supplementary materials, specifically a glossary of terms and numerous supporting charts/graphs. Without graphical comparisons, it is quite difficult to grasp the magnitude of difference between the combatants. The book has an outstanding bibliography. Overall, I recommend the book, but you will probably need a finance dictionary or online reference tool to understand everything.
Was this review helpful?   Let us know

Customer Discussions

This product's forum
Discussion Replies Latest Post
No discussions yet

Ask questions, Share opinions, Gain insight
Start a new discussion
Topic:
First post:
Prompts for sign-in
 

Search Customer Discussions
Search all Amazon discussions
   


Look for similar items by category


Feedback