Germany

The Allies

Germany and the Allies are locked in a post-war adversarial relationship, with the Allies imposing harsh terms and Germany resisting them.

The Reparation Commission

Germany is in a hostile, antagonistic relationship with the Reparation Commission, which demands crushing reparations payments.

The French

Germany and France are bitter enemies, with France seeking revenge and security at Germany's expense.

Clemenceau

Clemenceau is Germany's most implacable foe, demanding harsh punishment and permanent weakening.

The Germans

Germany and the Germans are a collective identity, with the nation representing its people's suffering and defiance.

Sir Eric Geddes

Sir Eric Geddes, a British delegate, is a harsh antagonist to Germany, famously demanding 'squeezing the German lemon until the pips squeak.'

The Allies

Germany and the Allies are locked in a post-war adversarial relationship, with the Allies imposing harsh terms and Germany resisting them.

The French

Germany and France are bitter enemies, with France seeking revenge and security at Germany's expense.

The Reparation Commission

Germany is in a hostile, antagonistic relationship with the Reparation Commission, which demands crushing reparations payments.

The Germans

Germany and the Germans are a collective identity, with the nation representing its people's suffering and defiance.

The Allies

Germany and the Allies are locked in a post-war adversarial relationship, with the Allies imposing harsh terms and Germany resisting them.

The Reparation Commission

Germany is in a hostile, antagonistic relationship with the Reparation Commission, which demands crushing reparations payments.

The Economic Consequences of the Peace

Central subject of the treaty's punitive measures, facing economic ruin and starvation.

I: Introductory

Germany is described as having overturned the foundations of European life, and now lies prostrate, its exhaustion evident to financial representatives.

Europe Before the War

Central industrial power whose population growth and economic transformation made it the pivot of European trade and capital.

Population

Germany's population grew from 40 million in 1870 to 68 million by 1914, requiring a transformation into an industrial machine dependent on external factors.

Organization

Central support of the European economic system; its coal output grew dramatically from 30 million tons in 1871 to 190 million tons in 1913; best customer of many neighbors and largest source of supply to many; invested heavily in Eastern Europe.

Organization

Germany was Russia's best customer and largest source of supply; Germany invested heavily in Russia.

Organization

Germany was Austria-Hungary's best customer and largest source of supply; Germany invested in the region.

IV: The Relation of the Old World to the New

Part of Central Europe whose food supply from Russia and Romania is noted as a favorable factor before the war.

IV: The Treaty

Accepted the Fourteen Points and surrendered on agreed terms, but was subjected to punitive economic and territorial clauses.

V: Reparation

Subject of reparation demands; its capacity to pay is questioned.

Undertakings Given Prior to the Peace Negotiations

Germany accepted the Armistice based on the Fourteen Points and the Allied note, limiting its reparation liability.

The Conference and the Terms of the Treaty

Subjected to inflated reparation demands and a Treaty that Keynes argues is economically unworkable.

Germany's Capacity to Pay

Subject of analysis; its pre-war trade, lost assets, and reduced capacity to pay are examined.

The Reparation Commission

Subject to the Reparation Commission's authority; described as a bankrupt estate administered by creditors.

V: The German Counterproposals

Germany is the subject of the counterproposals, offering a conditional $25,000,000,000 settlement.

VI: Europe After the Treaty

Germany is discussed as an industrial state dependent on imports, now facing destruction of industry and inability to feed its population due to treaty terms.

VII: Remedies

Germany is referenced as the debtor expected to pay reparations, with Keynes questioning its capacity.

Endnotes

Subject of reparation demands, occupation costs, and surrender of merchant marine.