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Updated: June 1, 2025
And the celebrated loan of half a milliard francs, which Austrian financiers undertook to advance to Bulgaria on outrageously oppressive conditions set the crown to the work of many years. This transaction was not intended by either party to be purely financial. Its political bearings were evidenced by the circumstances in which it was negotiated and the terms on which it was concluded.
Nor is that all. In Morocco we have the right to liquidate German property, to transfer the shares that represent Germany's interests in the Bank of Morocco, and finally the allotment under a French mandate of a portion of the German colonies free from incumbrances of any kind.... We shall receive four hundred and sixty-three milliard francs, payable in thirty-six years, without counting the restitutions which will have been effected.
Nor will it contain representatives of the states whose property the Bulgars abstracted. Serbia is allowed neither indemnity nor reparation. She is to receive a share which the Treaty neglected to fix of the two and a quarter milliard francs on a date which has also been left undetermined. She is not even to get back the herds of cattle of which the Bulgars robbed her.
"Be so kind," said the professor, politely, "to tell the Flannery the ultimatum of Monsieur the Professor Jocolino. One hundred educate French flea have I bring to the States United. Of the progeny I do not say. One milliard, two milliard, how many is those progeny I do not know, but of him I speak not. Let him go. I make the Flannery a present of those progeny.
Thiers also obtained a reduction of a milliard from the impossible sum of six milliards first named for the war indemnity due to Germany; in this matter Jules Favre states that British mediation had been of some avail. If so, it partly accounts for the hatred of England which Bismarck displayed in his later years. The Preliminaries of Peace were signed at Versailles on February 26.
They were, first, the transfer to Germany of the northeast portion of Lorraine, with Metz and Diedenhofen, and of Alsace, Belfort excepted; second, the payment to Germany by France of one milliard of francs in 1871, and four milliards in the three years following; third, the Germans to begin to evacuate French territory immediately after the ratification of the treaty; Paris and its forts on the left bank of the Seine and certain departments at once; the forts on the right bank after the ratification and the payment of the first half milliard.
The import of made goods had in 1879 a value of 600 million marks, and in 1908 a value of 1 1/4 milliard marks, while the value of the export of manufactured goods mounted from 1 to 4 milliards. The value of the import of food-stuffs and delicacies has grown from 1 to 2 1/2-2 1/3 milliard marks, while the value of the export of articles of food remained at about the same figure.
There was another and more effectual cause: the war had deprived the world of twelve million workmen and a thousand milliard francs' worth of goods. But of this people took no account.
Since the milliard sunk there seemed to be definitely lost and wasted, one actually hoped for the advent of a Nero, endowed with mighty, sovereign will, who would take torch and pick and burn and raze everything in the avenging name of reason and beauty. "Ah!" resumed Narcisse, "here are the Contessina and the Prince."
And that was how a mere municipal crisis became a frightful disaster: a whole milliard sunk to no purpose, Rome disfigured, littered with the ruins of the gaping and empty dwellings which had been prepared for the five or six hundred thousand inhabitants for whom the city yet waits in vain! Moreover, in the breeze of glory which swept by, the state itself took a colossal view of things.
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