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This trend continued with future territorial expansions, as seen during the purchase of Alaska and the annexation of Hawaii, where the U.S. government facilitated debt repayments, allowing creditors to profit handsomely. In the mid-1800s, as the Kingdom of Sardinia was unifying Italy, it likewise agreed to take on the debts of the nations it absorbed, resulting in the creation of Italian bonds.
From the 19th century onward, a pattern emerged wherein conquering nations typically accepted or partially paid off territorial debts when financially viable. Nonetheless, paradoxical cases arose, such as during Japan's annexation of Korea, where Japan paid off Korean debts even as it sought to erase Korean culture.