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The text argues that England can pay and uses the debt to maintain financial supremacy, while America’s incentives for debt collection are questioned. It weighs competing American positions, reviews France’s claims and subsequent borrowing, and highlights how European actions after the war affected debt debates.",{"@graph":69,"@context":122},[70,84,105],{"@type":71,"itemListElement":72},"BreadcrumbList",[73,77,79,82],{"item":74,"name":75,"@type":76,"position":8},"https://docshare.wps.com","Home","ListItem",{"item":78,"name":9,"@type":76,"position":14},"https://docshare.wps.com/document/",{"item":80,"name":40,"@type":76,"position":81},"https://docshare.wps.com/document/research-report/",3,{"item":83,"name":65,"@type":76,"position":19},"https://docshare.wps.com/document/italys-debt-to-america-and-the-allies-debt-to-italy-an-open-letter/325051/",{"url":83,"name":65,"@type":85,"image":86,"author":91,"headline":65,"publisher":94,"fileFormat":97,"inLanguage":63,"description":67,"dateModified":98,"datePublished":99,"encodingFormat":97,"isAccessibleForFree":100,"interactionStatistic":101},"DigitalDocument",{"url":87,"@type":88,"width":89,"height":90},"https://docshare.wps.com/thumbnails/italys-debt-to-america-and-the-allies-debt-to-italy-an-open-letter/325051.png","ImageObject",300,407,{"name":92,"@type":93},"Patrick","Person",{"url":74,"name":95,"@type":96},"DocShare","Organization","application/pdf","2026-11-01","2026-09-21",true,{"@type":102,"interactionType":103,"userInteractionCount":29},"InteractionCounter",{"@type":104},"ViewAction",{"@type":106,"mainEntity":107},"FAQPage",[108,114,118],{"name":109,"@type":110,"acceptedAnswer":111},"What issue does the open letter focus on?","Question",{"text":112,"@type":113},"The open letter focuses on the war debt owed between America, the Allies, and Italy, and on how European reactions to repayment affect international relations.","Answer",{"name":115,"@type":110,"acceptedAnswer":116},"Why does the letter suggest England’s repayment strategy differs from others?",{"text":117,"@type":113},"It argues England can pay and wishes to retain financial supremacy, using repayment to influence the political situation in Europe during potential future conflicts.",{"name":119,"@type":110,"acceptedAnswer":120},"What reasoning does the letter give for why America might hesitate to press for debt repayment through war?",{"text":121,"@type":113},"It notes that Americans would not plunge into war to collect debts and emphasizes that the prior war showed human life cannot be paid for in 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DIVISION\n\n## BIBLIOGRAPHIC MICROFORM TARGET\n\nORIGINAL MATERIAL AS FILMED-EXISTING BIBLIOGRAPHIC RECORD  \n308?.ZCriscuolo,Luigi,1887-1957  \nBox 172Italy's dobt to Anerica and the Allies'debt to  \nItaly;an open lettor to Hon.Andrew w.Mellon,Hon.13lian E.Borah,by Luigi Criscuolo,HlewLank,1085.NewYork [F.rst I alicn Divsicn,Liberty7 p.23 cm,Loan Conmi \\#ee]1925.dNLr ∈0  \nReproductions may not be made without permission trom Columbia UniversityLibraries.              \n## RESTRICTIONS ON USE:\n\nTECHNICAL MICROFORM DATA  \nFILM SIZE:          35REDUCTION RATIO:      1/.2  \nIB I  \nIIB  \nIMAGE PLACEMENT:IA  \nINITIALS:                    追  \nDATE FILMED:                  4-1-97  \n            232Q3                   \n### TRACKING\\#:\n\nFILMED BY PRESERVATION RESOURCES,BETHLEHEM,PA.  \n、儿  \nITALY'S DEBT TO AMERICA ANDTHE ALLIES'DEBT TO ITALY  \nAn Open Letter  \nto  \nHoN.ANDREw W.MELLONHoN.WILLIAM E.BoRAH  \nbyLUIGI CRISCUOLO  \nNEW YORK  \nI925  \n3o8  \n二  \n(H  \n## Italy's Debt to America and the Allies'Debt to ItalycAn Open Letter\n\nHon,ANDREw W.MELLOX  \nHoN.WILLIAM E.BoRAH  \nWashington,D.C.  \nGENTLEMEN:  \nMany headlines in American newspapers recently told usthat America's attitude on the Allies'war debt to the UnitedStates Treasury Department was very strongly resented inEurope.Not only has the resentment been apparent fromspeeches of ministers and parliamentarians like Clementel andMarin in France,Schanzer in Italy,etc,but we hear that thestorekeeper and hotel-owner is taking revenge on Americalntourists in retaliation for our insistence that the debts bepaid.Only in England do we find in official circles a prac-tically unanimous opinion that the debts are due us andGreat Britain shows her good faith by funding this debtand paying the interest regularly.Italy has just said sheintended to pay absolutely and would immediately beginmaking arrangements for funding the debt.But,there arepotent reasons why England pays—she can pay and shewishes to use every effort to retain the financial supremacyshe always had in Europe.She prefers to pay the UnitedStates her debt in full and wait for what is owed her byFrance,Italy and the other Allies.Thus she can exercise acertain economic-diplomatic influence(if not pressure)uponher erstwhile Allies during the term of the loan.  \nIn America we lend money,receive bonds expiring at adistant period and are happy if we get our interest regularly.It is doubted that the American people would plunge into awar in order to collect a debt,even the ten billions owed usby our late “associates.”The last war taught us a lesson一that human life is not paid for in gold.But in Europe,they do not merely break of diplomatic negotiations in orderto collect a debt—they declare war.England holds the cardsinsofar as the whole political situation in Europe is con-  \ncerned.She paid her debt to the United States so that inthe event of a new conflict in Europe,in which we would notbe concorned,England would be the moving spirit andAmericn would have no excuse to plunge into it in order to“save democracy.”  \nThere have been a vast number of arguments advancedas to why America should forgive her Allies'debts—par-ticularly with respect to France.The old story of France'shelp to the thirteen colonies during the War of the Revolu-tion was always in the forefront,but that too received asevere blow when recently President Coolidge told theFrench Ambassador in unmistakable terms that America'sold debt to France was paid when we sent our soldiers to theFrench front in 1917.So what argument remains for thediplomats,statesmen and journalists?Only that we wentat a late date into a war which concerned us even as earlyas August I914 and that our expenses for war purposes,plus the loans of ten billions to our Allies from 1917and afterwards,did not represent our true share of theburden.They point to the fact that","cbCaib5x80Prvr8l","https://ap.wps.com/l/cbCaib5x80Prvr8l","pdf",394543,"English","# Italy's Debt to America and the Allies'Debt to ItalycAn Open Letter\n## Address and context of European resentment\n## Competing arguments about forgiving Allied debts","[{\"question\":\"What issue does the open letter focus on?\",\"answer\":\"The open letter focuses on the war debt owed between America, the Allies, and Italy, and on how European reactions to repayment affect international relations.\"},{\"question\":\"Why does the letter suggest England’s repayment strategy differs from others?\",\"answer\":\"It argues England can pay and wishes to retain financial supremacy, using repayment to influence the political situation in Europe during potential future conflicts.\"},{\"question\":\"What reasoning does the letter give for why America might hesitate to press for debt repayment through war?\",\"answer\":\"It notes that Americans would not plunge into war to collect debts and emphasizes that the prior war showed human life cannot be paid for in gold.\"}]","Italy's Debt to America and the Allies' Debt to Italy - An Open Letter | PDF",1789969552,25]