It is impossible to say which of the peace treaties imposed on the
conquered is lasting and which is the least supportable: after the
Treaty of Versailles, all the treaties have had the same tendency and
the same conformation.
The situation of German-Austria is now such that she can say with
Andromache: "Let it please God that I have still something more to
fear!" Austria has lost everything, and her great capital, which was
the most joyous in Europe, shelters now a population whose resources
are reduced to the minimum. The slump in her production, which is
carried on amidst all the difficulties, the fall in her credit, the
absolute lack of foreign exchanges, the difficulty of trading with the
hostile populations which surround her, put Austria in an extremely
difficult position and in progressive and continuous decadence. The
population, especially in the cities, is compelled to the hardest
privations; the increase of tuberculosis is continuous and
threatening.
Bulgaria has had rather less loss, and although large tracts of
Bulgarian territory have been given without any justifiable motive to
Greece and Jugo-Slavia, and although all outlet on the Aegean has been
taken from her by assigning to Greece lands which she cannot maintain,
on the whole Bulgaria, after the Treaty of Neuilly, has less sharp
sufferings than the other conquered countries.
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