What determined the atmosphere
of the peace treaties was the fact that there was a conference
presided over by Clemenceau, who remembered the Prussians in the
streets of Paris after the war of 1870, who desired but one thing: the
extermination of the Germans. What created this atmosphere, or helped
to create it, was the action of Marshal Foch, who had lost in the War
the two persons dearest to him in life, the persons who attached him
to existence.
But now we must examine the question not in the light of our
sentiments or even of our hatreds. We must see quite calmly if the
treaties are possible of application without causing the ruin of the
vanquished. Then we must ask ourselves if the ruin of the vanquished
does not bring in its train the ruin of the victors. Putting aside,
then, all moral considerations, let us examine and value the economic
facts.
There is no question that the reparation problem exists solely in
the case of Germany, who has still a powerful statal framework which
allows her to maintain great efforts, capable not only of providing
her with the means of subsistence, but also of paying a large
indemnity to the victors.
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