Vietnam or Thailand ? Vote for the TOP Country of the Week !
Updated: June 7, 2025
Since Germany had provoked the War and lost it, she must not only furnish an indemnity for the losses, but also pay the cost. The cost was calculated roughly at seven hundred milliards of francs at par. Further, there was the damage to assess. In the aggregate, war costs, damage to property, damage to persons, came to at least one thousand milliards.
It may be argued that before the War the total of all private patrimony in Germany surpassed but by little three hundred milliards of marks; and this is a valuation made upon generous criteria. But when it is said that the annual capitalization of Germany was ten milliards, that is not to say that ten milliards of capital is deposited in the banks ready to be transferred at will.
But something will have been done in cleaning them up, and that process will be completed by a second exchange of money later on." Fifteen milliards of new notes for the first exchange are already printed, but they think that twenty milliards will be necessary.
The German army was to enter Paris, but to go no farther than the Place de la Concorde; and besides the two hundred millions of francs exacted from Paris, France was to pay five milliards, that is, five thousand millions, of francs, as a war indemnity, a thousand millions of dollars.
We see then, especially in the large estates, a considerable and annually increasing growth, which the Prussian Finance Minister has estimated for Prussia alone at 3 milliards yearly in the next three years, so that it may be assumed to be for the whole Empire 5 milliards yearly in the same period. Wages have risen everywhere.
Great Britain owes about 21 milliards to the United States and is in turn creditor for some 44 milliards. She has a bad debt owing from Russia for more than 14 milliards, but 13 milliards are owing from France, about 12 milliards from Italy, and almost 2-1/2 milliards from Belgium.
Interest at five per cent to be charged on the milliards remaining unpaid from the date of ratification; fourth, the German troops remaining in France to make no requisitions on the departments in which they were located, but to be fed at the cost of France; fifth, the inhabitants of the sequestered provinces to be allowed a certain fixed time in which to make their choice between the two countries; sixth, all prisoners to be at once restored; seventh, a treaty embodying all these terms to be settled at Brussels.
Of these, the value of the imports has grown from 3 to 8-9 milliards marks, and the value of the exports from 3 1/2 to 6 1/2-7 milliards.... The value of the import of raw materials for industrial purposes has grown from 1 1/2 milliards in 1879 to 4 1/2 milliards marks lately, and the value of the export of such raw materials from 850 million to 1 1/2 milliard marks.
The figures employed were astronomical. Hundreds of milliards of francs were operated with by eminent publicists in an offhand manner that astonished the survivor of the expiring budgetary epoch and rejoiced the hearts of the Western taxpayers.
Great Britain had also at the same date a credit of £144,000,000 to her dominions. France has credit of little less than nine milliard francs, of which 875 millions is from Italy, four milliards from Russia, 2,250 millions from Belgium, 500 millions from the Jugo-Slavs, and 1,250 millions from other Allies. Italy has only small credits of no account.
Word Of The Day
Others Looking