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
The reader will readily apprehend what a plausible case can be made out
for the inclusion of these items of damage, if only on sentimental
grounds. It can be pointed out, first of all, that from the point of
view of general fairness it is monstrous that a woman whose house is
destroyed should be entitled to claim from the enemy whilst a woman
whose husband is killed on the field of battle should not be so
entitled; or that a farmer deprived of his farm should claim but that a
woman deprived of the earning power of her husband should not claim. In
fact the case for including Pensions and Separation Allowances largely
depends on exploiting the rather _arbitrary_ character of the criterion
laid down in the pre-Armistice conditions. Of all the losses caused by
war some bear more heavily on individuals and some are more evenly
distributed over the community as a whole; but by means of compensations
granted by the Government many of the former are in fact converted into
the latter. The most logical criterion for a limited claim, falling
short of the entire costs of the war, would have been in respect of
enemy acts contrary to International engagements or the recognized
practices of warfare. But this also would have been very difficult to
apply and unduly unfavorable to French interests as compared with
Belgium (whose neutrality Germany had guaranteed) and Great Britain (the
chief sufferer from illicit acts of submarines).
In any case the appeals to sentiment and fairness outlined above are
hollow; for it makes no difference to the recipient of a separation
allowance or a pension whether the State which pays them receives
compensation on this or on another head, and a recovery by the State out
of indemnity receipts is just as much in relief of the general taxpayer
as a contribution towards the general costs of the war would have been.
But the main consideration is that it was too late to consider whether
the pre-Armistice conditions were perfectly judicious and logical or to
amend them; the only question at issue was whether these conditions were
not in fact limited to such classes of direct damage to civilians and
their property as are set forth in Paragraphs 1, 2, 3, 8, 9, and 10 of
Annex I. If words have any meaning, or engagements any force, we had no
more right to claim for those war expenses of the State, which arose out
of Pensions and Separation Allowances, than for any other of the general
costs of the war. And who is prepared to argue in detail that we were
entitled to demand the latter?
Public-domain text, read in full here on John Shaqi.
Reviews
Reviews
No reviews yet
Be the first to share your thoughts on this work.
Elsewhere in the archive
Join the Discussion
Join the discussion
Sign in to leave a comment or review.
Sign InorCreate an account