Stanley Baldwin and war debt to USA

Illustration of the deal Stanley Baldwin, as Chancellor of the Exchequer, agreed with the United States to pay war debt after the First World War. Proving that our word is our bond: Britain has agreed to pay to America a sum of £978, 000, 000, to be paid at the rate of £34, 000, 000 per annum for the first ten years, and £40, 000, 000 per annum for the following 52 years, including interest. This the equivalent of giving the USA the proceeds of most of British coal exports for the next 62 years. The British Cabinet has approved the scheme which awaits US Congress sanction

Borrowing Cost Debt Debts Economics Exchequer Loan Loans Nov22 Pounds Repayment

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