When All the Gold in the World isn't Enough
Everyone was on the gold standard back in the day, but it is estimated that all the gold in all the world's vaults in 1914 could not have paid for the first month of World War One.
The war was conducted almost entirely on borrowing and credit. (Not unusual. Even war bonds are, after all, borrowing.)
Lending to any entity carries risks. Lending to an entity that might cease to exist in the near future (by, say, being conquered by another entity) is particularly risky.
American industry produced lots of material with E-Z credit terms for the (broke) allies 1914-1917. Much less for the central powers.
So the accounts receivable balance sheet of the combined American economy became very dependent on the allied powers (the side that owed various Americans all that money) winning the war.
And that is not a trivial concern... at some point it becomes about the whole economy.
There are almost no single-factor historical events. That was not *the* reason we entered World War One. Children should not be taught that was *the* reason we entered World War One. We entered the war because Germany was attacking our shipping, and because Germany really sucked (and was kind of crazy... they offered both Japan and Mexico US territory in exchange for military support, like that was going to happen), and because of a lot of things.
But our net coporate balnce sheet should damn well be on the list, because if American business stood to be wrecked and American jobs lost if Germany lost then were would most likely have found some way to not enter the war.
These things are always a factor.
When nations send people somewhere and kill and die it is sometimes to ensure the fulfillment of existing business contracts, lest certain people suffer financially. (Sometimes just a US battleship showing up in ones harbor is enough to get one to rethink dishonoring a contract with an American corporation)
That is very much one of the reasons. And you don't need to be John Reed to see it for what it is.
It will surprise nobody that Hitler was a whiner, but it will surprise many Americans to recall that a lot of the crushing indemnities Germany owed France after WWI were actually paid by America.
Was our motive in doing so to prevent a new war in Europe? Sure. Was our motive humanitarian? Also, sure. Was our motive partly to give money to bankrupt Germany to give to almost bankrupt France because France owed American interests a lot of money and it would look better than the US government just cutting a check directly to some American financier who France owed money? Well... it wouldn't surprise me a bit.
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