President Wilson
sends former Secretary of War Elihu Root to Petrograd with messages on the
United States war aims and conditions for securing US loans for the further
prosecution of the war. He summed up
the US attitude, as Wikipedia says, very trenchantly: "No fight, no
loans."
Thus, the US offered credits of up to $75 million,
contingent on Russia undertaking the summer offensive. The Romanovs expressed a
desire to subscribe, contingent on the state treasury’s support for the tsar’s
family. But the Russian big bourgeoisie refused to subscribe.
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