The Fruits of Victory: A Sequel to The Great IllusionAngell, Norman
History
The Fruits of Victory: A Sequel to The Great Illusion
Angell, Norman
Economic history -- 1918-1945; World War, 1914-1918 -- Influence
And to the degree to which we attempt violently to re-direct
the economic currents, does the security upon which our credit depends
decline.[134]
There are other considerations. A French journalist asks plaintively:
'If we want the coal why don't we go in and take it'--by the occupation
of the Ruhr. The implication is that France could get the coal for
nothing. Well, France has taken over the Saar Valley. By no means does
she get the coal for nothing. The miners have to be paid. France tried
paying them at an especially low rate. The production fell off; the
miners were discontented and underfed. They had to be paid more. Even so
the Saar has been 'very restless' under French control, and the last
word, as we know, will rest with the men. Miners who feel they are
working for the enemy of their fatherland are not going to give a high
production. It is a long exploded illusion that slave labour--labour
under physical compulsion--is a productive form of labour. Its output
invariably is small. So assuredly France does not get this coal for
nothing. And from the difference between the price which it costs her as
owner of the mines and administrator of their workers, and that which
she would pay if she had to buy the coal from the original owners and
administrators (if there is a difference on the credit side at all) has
to be deducted the ultimate cost of defence and of the political
complications that that has involved. Precise figures are obviously not
available; but it is equally obvious that the profit of seizure is
microscopic.
Always does the fundamental dilemma remain. France will need above all,
if she is to profit by these raw materials of European industry,
markets, and again markets. But markets mean that the iron which has
been captured must be returned to the nation from which it was taken, on
conditions economically advantageous to that nation. A central Europe
that is consuming large quantities of metallurgical products is a
Central Europe growing in wealth and power and potentially dangerous
unless reconciled. And reconciliation will include economic justice,
access to the very 'property' that has been seized.
The foregoing is not now, as it was when the present author wrote in
similar terms a decade since, mere speculation or hypothesis. Our
present difficulties with reference to the indemnity or reparations, the
fall in the exchanges, or the supply of coal, are precisely of the order
just indicated. The conqueror is caught in the grip of just those
difficulties in turning conquest to economic account upon which _The
Great Illusion_ so repeatedly insisted.
Public-domain text, read in full here on John Shaqi.
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