The Economic Consequences of the PeaceKeynes, John Maynard
History
The Economic Consequences of the Peace
Keynes, John Maynard
Economic history -- 1918-1945; Treaty of Versailles (1919 June 28); World War, 1914-1918 -- Economic aspects
[89] _Revue Bleue_, February 3, 1919. This is quoted in a very
valuable selection of French estimates and expressions of opinion,
forming chapter iv. of _La Liquidation financiËre de la Guerre_, by H.
Charriaut and R. Hacault. The general magnitude of my estimate is
further confirmed by the extent of the repairs already effected, as set
forth in a speech delivered by M. Tardieu on October 10, 1919, in which
he said: "On September 16 last, of 2246 kilomËtres of railway track
destroyed, 2016 had been repaired; of 1075 kilomËtres of canal, 700; of
1160 constructions, such as bridges and tunnels, which had been blown
up, 588 had been replaced; of 550,000 houses ruined by bombardment,
60,000 had been rebuilt; and of 1,800,000 hectares of ground rendered
useless by battle, 400,000 had been recultivated, 200,000 hectares of
which are now ready to be sown. Finally, more than 10,000,000 mËtres of
barbed wire had been removed."
[90] Some of these estimates include allowance for contingent
and immaterial damage as well as for direct material injury.
[91] A substantial part of this was lost in the service of the
Allies; this must not be duplicated by inclusion both in their claims
and in ours.
[92] The fact that no separate allowance is made in the above
for the sinking of 675 fishing vessels of 71,765 tons gross, or for the
1855 vessels of 8,007,967 tons damaged or molested, but not sunk, may be
set off against what may be an excessive figure for replacement cost.
[93] The losses of the Greek mercantile marine were excessively
high, as a result of the dangers of the Mediterranean; but they were
largely incurred on the service of the other Allies, who paid for them
directly or indirectly. The claims of Greece for maritime losses
incurred on the service of her own nationals would not be very
considerable.
[94] There is a reservation in the Peace Treaty on this
question. "The Allied and Associated Powers formally reserve the right
of Russia to obtain from Germany restitution and reparation based on the
principles of the present Treaty" (Art. 116).
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