The Economics of Reparation

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Great Britain in particular will be mo^ seriously afie6led by such conditions. The European markets are essential to her well-being, and if she cannot dispose of her goods in the great Continental markets, then the British people will be unable to recover from the injury they have received by the war. The effed: of the impoverish- ment of Europe upon the well-being of the British people is a matter of very great moment, not only to themselves, but to the other members of the Entente, as well as... to the re^ of the world. The Continental nations which desire to prevent Germany's recovery are looking to England to make good the reparation which they will prevent Germany from making by reason of their own policy, but the impoverishment of Europe would effe6lually prevent Great Britain from providing any sums for reparation either by loan or by gift. Great Britain's wealth, it should be realised, comes in the main from her exports to the entire world, and if the purchasing power of some hundreds of millions of people remains reduced by the war, a severe blow will be given to the well-being of Great Britain.

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