But only vast popular movements and great currents of thought and
of life can work effectively in those cases where the labours of
politicians have revealed themselves as characterized by uncertainty
and as being too traditional. Europe is still under the dominion of
old souls which often enough dwell in young bodies and, therefore,
unite old errors with violence. A great movement can only come from
the intellectuals of the countries most menaced and from fresh popular
energies.
4.--REGULATING INTER-ALLIED DEBTS, GERMANY'S INDEMNITY AND THAT OF THE
DEFEATED COUNTRIES
These two problems are closely connected.
The victorious countries demand an indemnity from the conquered
countries which, except Germany, who has a great productive force even
in her hour of difficulties, are in extreme depression and misery.
Great Britain is in debt to the United States, and France, Italy and
minor nations are in their turn heavy debtors to the Americans and to
Great Britain.
The experience of the last three years has shown that, even with the
best will, none of the countries owing money to the Entente has been
able to pay its debts or even the interest.
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