The Economic Consequences of the Peace

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The book explores the complexities of reparations imposed on Germany after World War I, detailing the financial demands totaling $15 billion, including immediate cash payments and bearer bonds. It highlights the challenges faced by the Reparation Commission in managing these payments, particularly the inefficiencies of bureaucratic control over Germany's foreign trade. The author argues that the discretionary powers granted to the Commission may not alleviate the economic strain on Germany, as the required funds are unlikely to be generated within the stipulated timeframe.