Abstract

The Gold Bonds of The Allies

In one respect the present position of these nations differs from all others in that the Allies comprise virtually all the wealthy nations of the world and that they are all banded together with a common objective. To this end each of the Allied nations is assisting the others by a most generous interchange of necessities. Unity of interest is essential to hold the financial fabric together and maintain a workable exchange basis. The United States has merely extended credit to the allies when accepting their loans and has given the allies, as her customers, time to pay their debts. The experiences of the past have demonstrated that a liberal application of taxation is the surest method of financing every great national crisis.