Evening star., 1922-02-13

s9 ~ and discussion Is due to fol-
~ low publication of John May
nard Keynes new book. "A
Revision of the Treaty." just issued
as a sequel to his Economic Conse-
quences Of the Peace" In the two
years which have elapsed since pub
lication Of Keynes first book the
world has moved long way in some
directions. and has made little move
ment at all in others. Developments
of those two years have given
Keynes numerous opportunities for
II told you So" and have necessi-
tated from him equally numerous ex-
cuses and explanations. Some Of
the hurtful things he predicted as a
consequence Of the treaty of peace
have actually come to pass. He art
them have not come to pass Is be-
cause literal enforcement of the terms
Of the treaty has not been attempted.
= 4 y X
Keynes Is unique among postwar
economic doctors, in that while every
one is willing to take part of the
treatment he prescribes and is anx-
ious that other parts shall be taken
by others, no one has yet been found
who is willing to undergo the treat
ment as a whole. Germany probably
would come nearest being willing to
take the whole treatment. yet there
are some parts Of it which Germany
believes would violently disagree with
her. There are only few ingredients
in the prescription which France Is
willing to take at all, yet those few
she believes are necessary to the saw.
ing Of her life. Opinion In this cOun-
try might be one of detached willing.
ness to see the experiment tried. wers
it not for the one dose America is
asked to swallow. But when Keynes
makes cancellation of a large part
Of European indebtedness to the
United States an essential part of his
doctoring, he Immediately loses popu-
larity as a doctor.
However violently other economists
and the statesmen of the world may
disagree with Keynes, they find 1t
rather easier to denounce than to
answer him. Not having any con-
stituency to propitiate or political
responsibilities to shoulder, he deals
with concrete facts and deals with
them in a way which touches a sore
world on it's sorest spots. There
never has been any serious attempt to
refute the facts he marshals for his
arguments, but the conclusions he
/ draws from them have been subject
to more controversy. probably. than
mi nj
private person.
X i: i X
All the discussion in his new book,
as was the case with his first one,
centers around the question of how
much in the way of reparations
ought to be and can be extracted
from Germany. Keynes finds i'm
morality in the amount finally fixed
by the reparations commission ($56,-
00o, 900, ,00O for two major reasons.
One is that. according to his conten-
ton. the makers of the Versailles
treaty were debarred by the armistice
terms from figuring pensions and al
lowances to dependents in the as
sessment against Germany That Is
a contention which was stoutly sup
delegation, until President Wilson
finally gave In to the insistence of
Clemenceau.
In order to get an understanding of
this question it is necessary to go
submitted to Germany by President
Wilson, after they had been ap-
proved by the allied supreme coun-
ell, the famous fourteen points" and
the Presidents subsequent addresses.
The fourteen points had provided for
complete restoration of invaded ter.
ritoriaa suhse0uent address had
declared "there shall be no annex
atoms, no contributions, no punitive
damages The allies added to the
Wilson terms a provision that com
pensation will be made by Germany
for all damage done to the civilian
property by the aggressions OF Ger
many by land. by sea and from the
air." And at the last moment and
without any Importance being at
tached to them, according to Keynes.
the words without prejudice to any
the part of the allies" were added to
the notification to Germany of the
armistice terms.
It is because of this without preju-
dice" reservation that it now is sought
to Justify the demand for pensions and
allowances. Keynes argues that with
equal logic it could be held to justify
demand that Germany pay the whole
cost of the war. and that thus inter-
preted the fourteen points, the subse-
quent addresses and the sea and air
damage stipulation would lose all mean
ing as principles upon which the peace
was to be based. In support of his
mand upon Germany was immoral. he
quotes President Wilson that 1T ''is
clearly inconsistent with what we de-
liberately led the enemy to expect and