His indignation may have been partly due to the fact that Australia, not having been ravaged, would have no claims at all under the more limited interpretation of our rights.
[100] The whole cost of the war has been estimated at from $120,000,000,000 upwards.

This would mean an annual payment for interest (apart from sinking fund) of $6,000,000,000.

Could any expert Committee have reported that Germany can pay this sum?
[101] But unhappily they did not go down with their flags flying very gloriously.

For one reason or another their leaders maintained substantial silence.

What a different position in the country's estimation they might hold now if they had suffered defeat amidst firm protests against the fraud, chicane, and dishonor of the whole proceedings.
[102] Only after the most painful consideration have I written these words.