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When the 1921 London conference to determine how much Germany should pay was called, the Allies calculated on the basis of what Germany could pay, not on their own needs. [170] In this way, Marks says, the Germans largely escaped paying for the war and instead shifted the costs onto American investors. [171]
Germany also received a loan of 800 million gold marks, financed primarily by American banks. [33] [34] French troops leaving Dortmund. British Labour Prime Minister Ramsay MacDonald, who viewed the 132 billion figure as impossible for Germany to pay, successfully pressured French Premier Édouard Herriot into a series of concessions to Germany ...
At the end of World War I, the Allied Powers included in the Treaty of Versailles a plan for the reparations for which Germany would be liable. It established an interim 20 billion Reichsmarks to be paid through April 1920 and left the full details to be determined by an Inter-Allied Reparation Commission.
"The Food Supply of Germany During the War," Journal of the Royal Statistical Society (1920) 83#2 pp. 225–254 in JSTOR; Tobin, Elizabeth H. "War and the Working Class: The Case of Düsseldorf 1914–1918," Central European History (1985) 18#3 pp 4+ Vincent, Charles Paul. The Politics of Hunger: The Allied Blockade of Germany, 1915–1919 (1985)
The government believed that it would be able to pay off the debt by winning the war and imposing war reparations on the defeated Allies. This was to be done by annexing resource-rich industrial territory in the west and east and imposing cash payments to Germany, similar to the French indemnity that followed German victory over France in 1870. [1]
As a result, the sum was split into different categories, of which Germany was only required to pay 50 billion gold marks (US$12.5 billion); this being the genuine assessment of the commission on what Germany could pay, and allowed the Allied powers to save face with the public by presenting a higher figure. Furthermore, payments made between ...
When Germany stopped making payments in 1932 after the agreement reached at the Lausanne Conference failed to be ratified, [12] Germany had paid only a part of the sum. This still left Germany with debts it had incurred in order to finance the reparations, and these were revised by the Agreement on German External Debts in 1953. After another ...
The text of the 11 November armistice include a commitment from Germany to pay "reparation for damage done" to the Allied countries. [14] On 18 January 1919 the Paris Peace Conference began. The conference aimed to establish peace between the war's belligerents and to establish the post-war world.