Finansijski odnosi Sjedinjenih Američkih Država i Kraljevine SHS ‒ Blerov zajam 1922. godine
FINANCIAL RELATIONS BETWEEN THE UNITED STATES AND THE KINGDOM OF SERBS, CROATS AND SLOVENES – BLAIR’S LOAN 1922

Summary/Abstract: The paper deals with the negotiations of the Kingdom of Serbs, Croats and Slovenes, the American administration and the New York based bank Blair Co. & Inc. on a national loan in 1922. After the World War One, the United States were dominant international financial force, which created a set of financial rules to be used for cooperation with other countries. The Kingdom of Serbs, Croats and Slovenes needed money for the renewal of infrastructure and saw the possibility of a loan from the American banks. The negotiations, based on two frameworks, were conducted in three phases. On one side, the amount of the loan was discussed, while on the other hand, the American representatives insisted that the government in Belgrade settle the previous debts of the Kingdom of Serbia to the United States. The negotiations were obstructed by Italy due to the diplomatic conflict with the Kingdom of Serbs, Croats and Slovenes. Its intention was to slow down the Yugoslav infrastructural connection of the interior with the Adriatic Sea through the construction of a railway that would be financed with the money of an American loan. The aim of the paper is to explain the negotiation process on Blair’s loan, the observable results and the indirect consequences of the loan on the security of the Kingdom of Serbs, Croats and Slovenes.

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