What goods can Germany give in payment of the indemnity? We have seen
how she has lost a very large part of her iron and a considerable
quantity of her coal.
All the economic force of Germany was based upon:
(a) The proper use of her reserves of coal and iron, which allowed
her to develop enormously those industries which are based on these
two elements.
(b) On her transport and tariff system, which enabled her to fight any
competition.
(c) On her potent overseas commercial organization.
Now, by effect of the treaty, these three great forces have been
entirely or in part destroyed.
What goods can Germany give in payment of the indemnity, and what
goods can she offer without ruining the internal production of the
Entente countries? Let us suppose that Germany gives machines,
colours, wagons, locomotives, etc. Then for this very fact the
countries of the Entente, already suffering by unemployment, would
soon see their factories obliged to shut down. Germany must therefore,
above all, give raw materials; but since she is herself a country that
imports raw materials, and has an enormous and dense population, she
is herself obliged to import raw materials for the fundamental needs
of her existence.
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