The Economic Consequences of the Peace

by John Maynard Keynes

[9] Part VIII. Annex III. (1).

[10] Part VIII. Annex III. (3).

[11] In the years before the war the average shipbuilding output of Germany was about 350,000 tons annually, exclusive of warships.

[12] Part VIII. Annex III. (5).

[13] Art. 119.

[14] Arts. 120 and 257.

[15] Art. 122.

[16] Arts. 121 and 297(b). The exercise or non-exercise of this option of expropriation appears to lie, not with the Reparation Commission, but with the particular Power in whose territory the property has become situated by cession or mandation.

[17] Art. 297 (h) and para. 4 of Annex to Part X. Section IV.

[18] Arts. 53 and 74.