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The Capacity of Germany to Pay Reparations (1919)

In: Essays in Persuasion

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  • John Maynard Keynes

Abstract

It is evident that Germany’s pre-war capacity to pay an annual foreign tribute has not been unaffected by the almost total loss of her colonies, her overseas connections, her mercantile marine, and her foreign properties, by the cession of ten per cent of her territory and population, of one-third of her coal and of three-quarters of her iron ore, by two million casualties amongst men in the prime of life, by the starvation of her people for four years, by the burden of a vast war debt, by the depreciation of her currency to less than one-seventh its former value, by the disruption of her allies and their territories, by revolution at home and Bolshevism on her borders, and by all the unmeasured ruin in strength and hope of four years of all-swallowing war and final defeat.

Suggested Citation

  • John Maynard Keynes, 2010. "The Capacity of Germany to Pay Reparations (1919)," Palgrave Macmillan Books, in: Essays in Persuasion, chapter 2, pages 6-13, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-1-349-59072-8_2
    DOI: 10.1007/978-1-349-59072-8_2
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