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Nitti, Francesco Saverio, 1868-1953

"Peaceless Europe"

But since it was impossible to demand immediate
payment and was necessary to spread the sum over fifty years, taking
into consideration sinking funds and interest the total came to three
thousand milliards. The amount was published by the illustrated papers
with the usual diagrams, drawings of golden globes, length of paper
money if stretched out, height of metal if all piled up together, etc.
etc.
These figures were discussed for the first few months by a public
accustomed to be surprised at nothing. They merely helped to
demonstrate that an indemnity of 350 milliards was a real sacrifice
for the Allies.
Thus a whole series of principles came to be established which were a
contradiction of reality.
A great share in the responsibility in this matter lies with Great
Britain, who not only followed France's error, but in certain ways
made it worse by a number of intemperate requests. Italy had no
influence on the proceedings owing to her indecisive policy. Only the
United States, notwithstanding the banality of some of her experts
(_lucus a non lucendo_), spoke an occasional word of reason.


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