America's European allies argued that they should not have to repay loans that the United States made to them during World War I because

Question

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America's European allies had suffered heavy losses of human lives during World War I, while the United States had not sent significant numbers of soldiers to the front. Therefore, they argued that it was only fair for the United States to cancel the war loans as a gesture of gratitude and solidarity. The fact that the United States had owed some money to them before the war was not a relevant argument, as these debts had been mostly settled by the time the war broke out. The amount of money involved was indeed significant, as it exceeded $10 billion in today's value. The argument about oil revenues or Germany's reparations was also not relevant to the issue of war debt repayment.

America's European Allies Argued That They Should Not Have to Repay