Cooperation of the United States with the Allied Powers in the Provision and Administration of Finance and in the Purchase of Supplies 1

1. The papers printed in this section do not purport to give a complete account of financial transactions between the United States and the Allied powers, a subject not suitable for full development in these volumes. On the other hand, the total omission of this subject would exclude an important factor in the general process of the organization of cooperation with the Allied powers, culminating in the Inter-Allied Conference of November-December, 1917. The principle governing the selection of these documents is that of showing the problems of financial cooperation, the efforts made toward solving them, and the evolution of the machinery for coordinating financial policy which resulted in the formation of the Purchasing Commission and the Inter-Allied Council on War Purchases and Finance. Papers relating to financial assistance to Rumania are included in a separate section, post, page 721. Those relating to loans to Russia are printed in Foreign Relations, 1918, Russia, Vol. III.