Financing the First World War

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To Arms is Hew Strachan's most complete and definitive study of the opening of the First World War. Now, key sections from this magisterial work are published as individual paperbacks, each complete in itself, and with a new introduction by the author. This volume is the first full history of how the war was financed. It resulted in hyper-inflation in the 1920s and, in due course, in New York's displacement of London as the world's money market. Its effects are still with us today.