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
[107] The following is the salient passage of the Memorandum: “After
the soldier’s discharge as unfit he rejoins the civilian population,
and as for the future he cannot (in whole or in part) earn his own
livelihood, he is suffering damage as a member of the civilian
population, for which the German Government are again liable to make
compensation. In other words, the pension for disablement which he
draws from the French Government is really a liability of the German
Government, which they must under the above reservation make good to
the French Government. It could not be argued that as he was disabled
while a soldier he does not suffer damage as a civilian after his
discharge if he is unfit to do his ordinary work. He does literally
suffer as civilian after his discharge, and his pension is intended
to make good this damage, and is therefore a liability of the German
Government.”
[108] _What Really Happened at Paris_, p. 272.
[109] Mr. Lamont adds that “it was not a contempt of logic, but
simply an impatience of technicality; a determination to brush aside
verbiage and get at the root of things. There was not one of us in the
room whose heart did not beat with a like feeling.” These words not
merely reflect a little naïvely the modern opportunist’s impatience
of legality and respect for the _fait accompli_, but also recall the
atmosphere of exhaustion and the longing of everyone to be finished,
somehow, with this dreadful controversy, which for months had outraged
at the same time the intellects and the consciences of most of the
participators. Yet, even so, to their lasting credit, the American
Delegation had stood firm for the law, and it was the President, and he
alone, who capitulated to the lying exigencies of politics.
CHAPTER VI
REPARATION, INTER–ALLY DEBT, AND INTERNATIONAL TRADE
It is fashionable at the present time to urge a reduction of the
Allies’ claims on Germany and of America’s claims on the Allies, on the
ground that, as such payments can only be made in goods, insistence on
these claims will be positively injurious to the claimants.
That it is in the self–interest of the Allies and of America to abate
their respective demands, I hold to be true. But it is better not to
use bad arguments, and the suggestion that it is necessarily injurious
to receive goods for nothing is not plausible or correct. I seek in
this chapter to disentangle the true from the false in the now popular
belief that there is something harmful in compelling Germany (or
Europe) to “fling goods at us.”
The argument is a little intricate and the reader must be patient.
Public-domain text, read in full here on John Shaqi.
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