CONTENTS

CHAPTER I

PAGE
The State of Opinion[3]

CHAPTER II

From the Ratification of the Treaty of Versailles to the Second Ultimatum of London[11]
Excursus I.—Coal[44]
Excursus II.—The Legality of Occupying Germany East of the Rhine[57]

CHAPTER III

The Burden of the London Settlement[64]
Excursus III.—The Wiesbaden Agreement[92]
Excursus IV.—The Mark Exchange[100]

CHAPTER IV

The Reparation Bill[106]
Excursus V.—Receipts and Expenses prior to May 1, 1921[131]
Excursus VI.—The Division of Receipts between the Allies[138]

CHAPTER V

The Legality of the Claim for Pensions[144]

CHAPTER VI

Reparation, Inter–Ally Debt, and International Trade[163]

CHAPTER VII

The Revision of the Treaty and the Settlement of Europe[179]

APPENDIX OF DOCUMENTS

I.Summary of Spa Agreement (July 1920)[203]
II.The Decisions of Paris (January 1921)[207]
III.The Claims Submitted to the Reparation Commission (February 1921)[210]
IV.The First Ultimatum of London (March 1921)[213]
V.The German Counter–Proposal (April 1921)[215]
VI.The Reparation Commissionʼs Assessment (April 1921)[219]
VII.The Second Ultimatum of London (May 1921)[219]
VIII.Summary of the Wiesbaden Agreement (October 1921)[228]
IX.Tables of Inter–Governmental Indebtedness[238]
INDEX [240]

A REVISION OF THE TREATY
BEING A SEQUEL TO
THE ECONOMIC CONSEQUENCES OF THE PEACE