A Revision of the Treaty Being a Sequel to the Economic Consequences of the Pea

Cover A Revision of the Treaty Being a Sequel to the Economic Consequences of the Pea
A Revision of the Treaty Being a Sequel to the Economic Consequences of the Pea
Keynes John Maynard
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Baruch records, "that finan- cial loss resulting from the absence of a wage- earner did not cause any more 'damage to the civilian population' than did an equal financial loss involved in the payment of taxes to provide military equipment and like war costs. " In fact, a separation allowance or a pension was simply one of many general charges on the Exchequer arising out of the costs of the war. If such charges were to be admitted as civilian damage, 1 Baruch, op. Oit. , p. 25.
160 A KEVISION O
...F THE TREATY it was a very short step back to the claim for the entire costs of the war, on the ground that these costs must fall on the taxpayer who, generally speaking, was a civilian. The sophistry of the argument became exposed by pushing it to its log- ical conclusion. Nor was it clear how pensions and allowances could be covered by words which were themselves an interpretation of the phrase, "restoration of invaded territory. " And the President's conscience, though very desirous by now to be converted (for he had on hand other controversies with his colleagues which interested him more than this one) remained unconvinced.

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