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

CHAPTER V
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Out of the total amount of the claim, whatever it eventually turns out to be, a sum of $5,000,000,000 must be paid before May 1, 1921.

The possibility of this will be discussed below.

But the Treaty itself provides certain abatements.

In the first place, this sum is to include the expenses of the Armies of Occupation since the Armistice (a large charge of the order of magnitude of $1,000,000,000 which under another Article of the Treaty--No.

249--is laid upon Germany).[110] But further, "such supplies of food and raw materials as may be judged by the Governments of the Principal Allied and Associated Powers to be essential to enable Germany to meet her obligations for Reparation may also, with the approval of the said Governments, be paid for out of the above sum."[111] This is a qualification of high importance.


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