special series entitled "Our Economy in War." Subsequent papers will consider the effects of war on the money supply, central banking, bank loans and ... The Banking System and War Finance: US Financing for WW1 and WW2 written in 1943 by Charles Whittlesey - 65 page PDF discusses the details of how Central Banks raised funds for financing both world wars.
Central Banks at War: Paul Post -- Shows how ability of Central Banks to create money was strongly correlated with success at wars. This also relates to Paul Kennedy; Rise and Fall of Great Powers which has the theme that financing of wars has been a central factor in success at global domination in history. Kindleberger: World Economic Primacy 1500-1900 would be worth reading and summarizing here.
Scott N. Duryea, “William Pitt, the Bank of England, and the 1797 Suspension of Specie Payments: Central Bank War Finance During the Napoleonic Wars,” Libertarian Papers 2, 15 (2010). ONLINE AT: libertarianpapers.org.