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Updated: May 29, 2025
Clemenceau's aim was to weaken and destroy Germany in every possible way, and I fancy that he was always a little contemptuous about the Indemnity; he had no intention of leaving Germany in a position to practise a vast commercial activity. But he did not trouble his head to understand either the indemnity or poor M. Klotz's overwhelming financial difficulties.
The combination of the "real" policy of M. Clemenceau on unreal issues, with M. Klotz's policy of pretense on what were very real issues indeed, introduced into the Treaty a whole set of incompatible provisions, over and above the inherent impracticabilities of the Reparation proposals.
Probably $1,000,000,000 would be ample to cover all such claims; but to be on the safe side, we will, somewhat arbitrarily, make an addition to the French claim of $1,500,000,000 on all heads, bringing it to $4,000,000,000 in all. The statements of M. Dubois and M. Loucheur were made in the early spring of 1919. Even if my figure prove erroneous, M. Klotz's can never have been justified.
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