I had my share in arranging at San Remo the Spa Conference, in the
hope and with the desire of discussing frankly with the Germans what
sum they could pay by way of indemnity without upsetting their economy
and damaging severely that of the Allies. But the ministerial crisis
which took place in June, 1920, prevented me from participating at
the Spa Conference; and the profitable action which Great Britain had
agreed to initiate in the common interest, ours as well as France's,
could not be proceeded with. The old mistakes continued to be
repeated, though many attenuations have come about and the truth
begins to appear even for those most responsible for past errors.
We shall have to examine with all fair-mindedness if Germany is in
a position to pay in whole or in part the indemnity established or
rather resulting from the treaty. France especially believes, or has
said on several occasions she believes, that Germany can pay without
difficulty 350 milliards.
After many stupidities and many exaggerations which have helped
considerably to confuse the public, in face of the new difficulties
which have arisen, new arrangements for the payment of the indemnity
have been established.
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