A Revision of the Treaty: Being a Sequel to The Economic Consequence of the PeaceKeynes, John Maynard
History
A Revision of the Treaty: Being a Sequel to The Economic Consequence of the Peace
Keynes, John Maynard
Treaty of Versailles (1919 June 28); World War, 1914-1918 -- Reparations
In the following month the Premiers met again at Boulogne (June 21,
1920), this meeting being preceded by an informal week–end at Hythe
(June 19, 1920). It was reported that on this occasion the Allies got
so far as definitely to agree on the principle of minimum annuities
extensible in accordance with Germany’s economic revival. Definite
figures even were mentioned, namely, a period of thirty–five years and
minimum annuities of three milliard gold marks. The Spa Conference was
again put off into the next month.
At last the Spa meeting was really due. Again the Premiers met
(Brussels, July 2, 3, 1920) to consider the course they would adopt.
They discussed many things, especially the proportions in which the
still hypothetical Reparation receipts were to be divided amongst
the claimants.[5] But no concrete scheme was adopted for Reparation
itself. Meanwhile a memorandum handed in by the German experts made
it plain that no plan politically possible in France was economically
possible in Germany. “The Note of the German economic experts,” wrote
_The Times_ on July 3, 1920, “is tantamount to a demand for a complete
revision of the Peace Treaty. The Allies have therefore to consider
whether they will call the Germans sharply to order under the menace of
definite sanctions, or whether they will risk creating the impression
of feebleness by dallying with German tergiversations.” This was a
good idea; if the Allies could not agree amongst themselves as to the
precise way of altering the Treaty, a “complete accord” between them
could be re–established by “calling the Germans sharply to order” for
venturing to suggest that the Treaty could be altered at all.
At last, on July 5, 1920, the long–heralded Conference met. But,
although it occupied twelve days, no time was found for reaching
the item on the agenda which it had been primarily summoned to
discuss—namely, Reparations. Before this dangerous topic could be
reached urgent engagements recalled M. Millerand to Paris. One of the
chief subjects actually dealt with, coal, is treated in Excursus I.
at the conclusion of this chapter. But the chief significance of the
meeting lay in the fact that then for the first time the responsible
ministers and experts of Germany and the Allied States met face to face
and used the methods of public conference and even private intimacy.
The Spa Conference produced no plan; but it was the outward sign of
some progress under the surface.
III. _The Brussels Conference_ (_December_ 16–22, 1920)
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