The Story of the Great War, Volume 7: American Food and Ships; Palestine; Italy invaded; Great German Offensive; Americans in Picardy; Americans on the Marne; Foch's Counteroffensive.
History
The Story of the Great War, Volume 7: American Food and Ships; Palestine; Italy invaded; Great German Offensive; Americans in Picardy; Americans on the Marne; Foch's Counteroffensive.
World War, 1914-1918
The Allies decided that the war must proceed. Germany regarded herself
as a conqueror, was determined upon aggression, and would listen to no
peace terms except her own. Count Czernin's conciliatory tone was
discounted by his declared fidelity to Austria's alliance to Germany.
The two speeches were believed to have been concocted in collusion with
the object of springing a combined diplomatic offensive against the
Entente Allies.
"The attack," said the London "Times," "obviously was intended to shake
the solidarity of our defense at several points, but President Wilson
manifestly was the chief objective of the converging forces. Neither
speech discloses the least readiness to make any concessions which the
Allies declare to be indispensable."
The effect of the Austro-German pronouncements on Great Britain was to
stiffen her resolution to continue hostilities. Little weight was
attached to what Austria, the tool of Germany, had to say; the former's
peace yearnings, set against the latter's aspirations, were impotent
unless energized by a revolution in the dual monarchy. The British only
took cognizance of Count von Hertling's words, which confirmed the
prevalent belief that Prussian militarism considered itself more firmly
seated in the saddle than ever, and that although the chancellor seemed
to hold the reins, the team which drew the German car of state was at
the mercy of Ludendorff's whip and Hindenburg's spur.
CHAPTER XI
MOVING THE MILITARY MACHINE
When Congress closed an epochal session on October 6, 1917, it had
appropriated over twenty-one billion dollars. Except for $7,000,000,000
loaned to the Allies, and another billion for the normal expenses of the
Government, the amount voted was placed at the service of the
Administration as America's sinews of war for defeating the Central
Powers. No nation had applied such a huge sum to war purposes in a like
period.
The loans to the Allies were not considered as part of the American war
outlays. The Allies gave their own bonds to the Government as collateral
for the loans, bearing the same rate of interest, and a condition
attached to the loans was that the money be spent in the United States
for war equipment. Hence the loans were allocated for the purchase of
material in this country and substantially aided American industries.
Included in the work of Congress was final agreement on a war revenue
measure after six months of debate (with wide divergence of taxation
plans between the House and Senate) estimated to produce $2,534,870,000,
of which $851,000,000 was to be levied on incomes, and $1,000,000,000 on
excess profits.
Public-domain text, read in full here on John Shaqi.
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