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With the outbreak of Unrestricted submarine warfare on February 1, 1917, the Imperial German Army's plan to force England to sign a peace treaty within six months failed. The peace resolution marked the Reichstag's first attempt to intervene in political events during the war, but was resolutely opposed by the Michaelis government. [43]
The German government rejected the 14 Points as the basis of a peace settlement. [8] The duumvirate that ruled Germany that consisted of Field Marshal Paul von Hindenburg and General Erich Ludendorff were supremely confident that the offensive planned for March 1918 code-named Operation Michael would win the war. [ 8 ]
In August 1914, Henry Pomeroy Davison, a Morgan partner, traveled to London and made a deal with the Bank of England to make J.P. Morgan & Co. the sole underwriter of war bonds for Great Britain and France. The Bank of England became a fiscal agent of J.P. Morgan & Co., and vice versa. Over the course of the war, J.P. Morgan loaned about $1.5 ...
The "Young Plan" was accepted and was ratified by the German Government on 12 March 1930. The plan established a theoretical final reparation figure at 112 billion gold marks ( US$26.35 billion ) , with a new payment schedule that would see reparations completed by 1988—the first time a final date had been set.
Before World War II, the events of 1914–1918 were generally known as the Great War or simply the World War. [1] In August 1914, the magazine The Independent wrote "This is the Great War. It names itself". [2] In October 1914, the Canadian magazine Maclean's similarly wrote, "Some wars name themselves. This is the Great War."
The U.S. government declared war on Germany on April 6, 1917. At the end of the war in November 1918, the German monarchy was overthrown and Germany was established as a republic. In 1919, the victorious Allied Powers held a peace conference in Paris to formulate peace treaties with the defeated Central Powers.
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