[The Economic Consequences of the Peace by John Maynard Keynes]@TWC D-Link book
The Economic Consequences of the Peace

CHAPTER IV
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Thus Germany's influence is eliminated and her capital confiscated in all those neighboring countries to which she might naturally look for her future livelihood, and for an outlet for her energy, enterprise, and technical skill.
The execution of this program in detail will throw on the Reparation Commission a peculiar task, as it will become possessor of a great number of rights and interests over a vast territory owing dubious obedience, disordered by war, disruption, and Bolshevism.

The division of the spoils between the victors will also provide employment for a powerful office, whose doorsteps the greedy adventurers and jealous concession-hunters of twenty or thirty nations will crowd and defile.
Lest the Reparation Commission fail by ignorance to exercise its rights to the full, it is further provided that the German Government shall communicate to it within six months of the Treaty's coming into force a list of all the rights and interests in question, "whether already granted, contingent or not yet exercised," and any which are not so communicated within this period will automatically lapse in favor of the Allied Governments.[27] How far an edict of this character can be made binding on a German national, whose person and property lie outside the jurisdiction of his own Government, is an unsettled question; but all the countries specified in the above list are open to pressure by the Allied authorities, whether by the imposition of an appropriate Treaty clause or otherwise.
(_c_) There remains a third provision more sweeping than either of the above, neither of which affects German interests in _neutral_ countries.

The Reparation Commission is empowered up to May 1, 1921, to demand payment up to $5,000,000,000 _in such manner as they may fix_, "whether in gold, commodities, ships, securities or otherwise."[28] This provision has the effect of intrusting to the Reparation Commission for the period in question dictatorial powers over all German property of every description whatever.

They can, under this Article, point to any specific business, enterprise, or property, whether within or outside Germany, and demand its surrender; and their authority would appear to extend not only to property existing at the date of the Peace, but also to any which may be created or acquired at any time in the course of the next eighteen months.

For example, they could pick out--as presumably they will as soon as they are established--the fine and powerful German enterprise in South America known as the _Deutsche Ueberseeische Elektrizitaetsgesellschaft_ (the D.U.E.G.), and dispose of it to Allied interests.


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