Demobilization : $b our industrial and military demobilization after the armistice, 1918-1920Crowell, Benedict
History
Demobilization : $b our industrial and military demobilization after the armistice, 1918-1920
Crowell, Benedict
United States. Army. American Expeditionary Forces -- Demobilization; World War, 1914-1918 -- United States
In order to provide the American money for this exchange it was
necessary for the Treasury to ship to France great quantities of
currency. It took the A. E. F. some time to convince the Treasury
Department of the necessity for such shipments. The day after the
armistice began, the command of the A. E. F. cabled to the Treasury
requesting the immediate shipment of $500,000 in currency, an order
afterwards increased to $2,000,000. This money did not actually
reach the A. E. F. until the last day of January, 1919. By that
date the expedition was beginning to embark rapidly. There was not
enough American currency in Europe to buy all the French money of the
expeditionary troops, and only by the most strenuous efforts could
the Quartermaster Corps provide money for exchange until the first
shipment of currency arrived from the United States. Finance officers
were stationed in Paris, London, and at the principal seaports with
orders to buy all the American money they could secure. By combing the
banks and the countingrooms of brokers and by maintaining in Paris a
fund from which shipments were rushed by motor convoys to the ports as
these exhausted their supplies of currency, the Corps managed to keep
the exchange system running. After the January shipment of $2,000,000
the Treasury Department arranged for an automatic supply of $10,000,000
every month.
Meanwhile, at the ports the Corps had built up the exchange
plan. Booths were set up on all docks, and a force of disbursing
quartermasters was organized to go on board all transports and exchange
the money of soldiers who had failed to make the exchange on shore.
The A. E. F. passed an order making it compulsory for all soldiers to
exchange their cash before sailing. Notices to this effect were posted
conspicuously in all the embarkation camps. In the larger units the
officers attended to the matter, collecting the French money from their
men, receiving American money for it from the exchange officers, and
then distributing the familiar currency among the troops. Individuals
and men traveling in small units attended to their own exchange. The
quartermasters at Brest distributed as much as $400,000 in American
currency in a single day. Up to July 1 Brest had paid out $60,000,000
in American money to troops boarding ship there.
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