Britain's Monetary Effort

Category

Library Item

Item no

32733

Title

"It Will Not Be Want of Money ... ": Britain's Huge Effort

Description

From the Illustrated London News published August 11th, 1917, page 165. Diagrams by W.B. Robinson. Full title: Great Britain's enormous share in the cost of the war: Figures and diagrams illustrating the gigantic growth of our expenditure.

Artist / maker

Unknown

Date

1917

Size

39.6 x 26.7 cm

Type

Press cutting; Reproduction

Location

Reference Library

Prior to the onset of WWI, Britain's economy, along with the pre-war economies of many of the other warring countries, was strong and stable. However, the unprecedented human and financial costs of war ushered in post-war economic instability and much of Europe experienced high rates of both inflation and unemployment. The debt incurred during the war was equivalent to 136% of Britain's gross national product and nudged the economy into a depression that would take decades to lift.

Read more about the aftermath of World War One from The National Archives

You can search the entire 1914-19 archives of the Illustrated London News online.

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Related subjects

Events > Wars > World wars

Government > National > Taxes

Places > United Kingdom