From which one of the following countries did Britain borrow large sums of money during the First World War?

see full answer

Your Exam Success, Personally Taken Care Of

1:1 expert mentors customize learning to your strength and weaknesses – so you score higher in school , IIT JEE and NEET entrance exams.

An Intiative by Sri Chaitanya

The United States of America

Russia

Japan

Germany

answer is A.

(Unlock A.I Detailed Solution for FREE)

Best Courses for You

JEE

NEET

Foundation JEE

Foundation NEET

CBSE

Detailed Solution

Britain borrowed large sums of money during the First World War from The United States of America. Britain supported the Allies financially until 1916, when it ran out of cash and had to borrow money from the US. Britain also raised money for the country's military equipment, food, and other essentials. However, the United States took over the Allies' finances in 1917 and demanded reimbursement after the war. In addition, Britain bought a loan of $4.34 billion after going bankrupt at the war's end rather than fund the combat itself. Eventually, the United States began to owe the rest of the world money after the war.

Watch 3-min video & get full concept clarity