Only after the most painful consideration have I written these words. The almost complete absence of protest from the leading Statesmen of England makes one feel that one must have made some mistake. But I believe that I know all the facts, and I can discover no such mistake. In any case I have set forth all the relevant engagements in Chapter IV. and at the beginning of this chapter, so that the reader can form his own judgment.

In conversation with Frenchmen who were private persons and quite unaffected by political considerations, this aspect became very clear. You might persuade them that some current estimates as to the amount to be got out of Germany were quite fantastic. Yet at the end they would always come back to where they had started: "But Germany must pay; for, otherwise, what is to happen to France?"

A further paragraph claims the war costs of Belgium "in accordance with Germany's pledges, already given, as to complete restoration for Belgium."