This total is more than Germany can pay. But the claim exclusive of pensions and allowances should be within her capacity. The inclusion of a demand for pensions and allowances was the subject of a long struggle and a bitter controversy in Paris. I have argued that those were right who maintained that this demand was inconsistent with the terms on which Germany surrendered at the Armistice. I return to this subject in the next chapter.
EXCURSUS V
RECEIPTS AND EXPENSES PRIOR TO MAY 1, 1921
The provision in the Treaty of Versailles that Germany, subject to certain deductions, was to pay $5000 millions (gold) before May 1, 1921, was so remarkably wide of facts and possibilities, that for some time past no one has said much about this offspring of the unimaginative imaginations of Paris. As it was totally abandoned by the London Agreement of May 5, 1921, there is no need to return to what is an obsolete controversy. But it is interesting to record what payments Germany did actually effect during the transitional period.
The following details are from a statement published by the British Treasury in August 1921:
Approximate Statement by the Reparation Commission of Deliveries made by Germany from November 11, 1918, to April 30, 1921
| Gold Marks. | ||
| Receipts in cash | 99,334,000 | |
| Deliveries in kind: | ||
| Ships | 270,331,000 | |
| Coal | 437,160,000 | |
| Dyestuffs | 36,823,000 | |
| Other deliveries | 937,040,000 | |
| 1,780,688,000 | ||
| Immovable property and assets not yet encashed | 2,754,104,000 | |
| 4,534,792,000 | ||
| say | $1,130,000,000 | |
The immovable property consists chiefly of the Saar coalfields surrendered to France, State property in Schleswig surrendered to Denmark, and State property (with certain exceptions) in the territory transferred to Poland.
The whole of the cash, two–thirds of the ships, and a quarter of the dyestuffs accrued to Great Britain. A share of the ships and dyestuffs, the Saar coalfields, the bulk of the coal and of the “other deliveries,” including valuable materials left behind by the German Army, accrued to France. Some ships, a proportion of the coal and other deliveries, and the compensation, payable by Denmark in respect of Schleswig, fell to Belgium. Italy obtained a portion of the coal and ships and some other trifles. The value of German State property in Poland could not be transferred to any one but Poland.
But the sums thus received were not available for Reparation. There had to be deducted from them (1) the sums returned to Germany under the Spa Agreement, namely 360,000,000 gold marks,[79] and (2) the costs of the Armies of Occupation.