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Nitti, Francesco Saverio, 1868-1953

"Peaceless Europe"

In 1913 her
commerce with the United States represented alone little less than
two milliards and a half of marks according to the statistics of the
German Empire, and 520 millions of dollars according to the figures
of America. If we except Canada, which we may consider a territorial
continuation, the two best customers of the United States were Great
Britain and Germany. They were, moreover, the two customers whose
imports largely exceeded the exports. The downfall of Germany will
bring about inevitably a formidable crisis in the Anglo-Saxon
countries and consequent ruin in other countries.
Up to now Germany has given all she could; any further payment will
cause a downfall without changing the actual monetary position.
Germany, after a certain point, will not pay, but will drag down in
her fall the economic edifices of the victorious countries of the
Continent.
All attempts at force are useless, all impositions are sterile.
All this is true and cannot be denied, but at the same time it must
be recognized that in the first move for the indemnity there was a
reasonable cause for anxiety on the part of the Allies.


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