Jump to content
By fans, for fans. By fans, for fans. By fans, for fans.

Good News: We lived through it...


stressederic

Recommended Posts

First World War officially ends

 

The First World War will officially end on Sunday, 92 years after the guns fell silent, when Germany pays off the last chunk of reparations imposed on it by the Allies.

 

By Allan Hall, Berlin

Published: 1:37PM BST 28 Sep 2010

 

The armistice between the Allies and Germany was signed in a railway carriage in Compiègne Forest on 11 November 1918 British soldiers of the 9th Cameronians carry out a raid on German trenches on 24th March 1917

 

The final payment of £59.5 million, writes off the crippling debt that was the price for one world war and laid the foundations for another.

 

Germany was forced to pay the reparations at the Treaty of Versailles in 1919 as compensation to the war-ravaged nations of Belgium and France and to pay the Allies some of the costs of waging what was then the bloodiest conflict in history, leaving nearly ten million soldiers dead.

 

The initial sum agreed upon for war damages in 1919 was 226 billion Reichsmarks, a sum later reduced to 132 billion, £22 billion at the time.

 

The bill would have been settled much earlier had Adolf Hitler not reneged on reparations during his reign.

 

Hatred of the settlement agreed at Versailles, which crippled Germany as it tried to shape itself into a democracy following armistice, was of significant importance in propelling the Nazis to power.

 

"On Sunday the last bill is due and the First World War finally, financially at least, terminates for Germany," said Bild, the country's biggest selling newspaper.

 

Most of the money goes to private individuals, pension funds and corporations holding debenture bonds as agreed under the Treaty of Versailles, where Germany was made to sign the 'war guilt' clause, accepting blame for the war.

 

France, which had been ravaged by the war, pushed hardest for the steepest possible fiscal punishment for Germany.

 

The principal representative of the British Treasury at the Paris Peace Conference, John Maynard Keynes, resigned in June 1919 in protest at the scale of the demands.

 

"Germany will not be able to formulate correct policy if it cannot finance itself,' he warned.

 

When the Wall Street Crash came in 1929, the Weimar Republic spiralled into debt. Four years later, Hitler was elected Chancellor of Germany.

 

Telegraph

 

It will be over by Christmas then.

Link to comment
Share on other sites

If I remember right, we haven't piad off the loans we took out with the US from the same war yet - though we may have done the bulk of it in PIK by now. ironically, we only finished what we owed them for WWII a few years back (much of this was in terms of PIK - most of the West Indies interests, radar and computer development, naval radar, jet engines and avionics - right up the 60' sna 70's we were still giving them inventions for free (or nearly free) and scrapping programmes that conflicted with their 'interests'.

 

There's been a few documentaries and publications in regards to these areas in recent years - but a really good one has yet to be made aboutthis 'special relationship'.

Link to comment
Share on other sites

If I remember right, we haven't piad off the loans we took out with the US from the same war yet - though we may have done the bulk of it in PIK by now. ironically, we only finished what we owed them for WWII a few years back (much of this was in terms of PIK - most of the West Indies interests, radar and computer development, naval radar, jet engines and avionics - right up the 60' sna 70's we were still giving them inventions for free (or nearly free) and scrapping programmes that conflicted with their 'interests'.

 

There's been a few documentaries and publications in regards to these areas in recent years - but a really good one has yet to be made aboutthis 'special relationship'.

 

 

I am of the view that these "payments" - both monetary and otherwise, but particularly the otherwise contributed massively to the decline of the UK as both a manufacturing base and a place of scientific development. The brains went with the technology (The Brain Drain) and the money to invest in replacement technologiess was either not there - or not being spent as the "outcome" of such spending would likely end up over the sea. Yuo could also make a case for this lack of investment in newer technologies and processes contributing to the spiral of labour unrest up until Mrs T came along and finished it all off

 

Of course, said decline is probably "better" than the alternative, and the Germans/Japanese, while paying cash reparations, also had "inbound" help. It was the Bristish Army that started rebuilding the VW factory, for example.

Link to comment
Share on other sites

I am of the view that these "payments" - both monetary and otherwise, but particularly the otherwise contributed massively to the decline of the UK as both a manufacturing base and a place of scientific development. The brains went with the technology (The Brain Drain) and the money to invest in replacement technologiess was either not there - or not being spent as the "outcome" of such spending would likely end up over the sea. Yuo could also make a case for this lack of investment in newer technologies and processes contributing to the spiral of labour unrest up until Mrs T came along and finished it all off

 

Of course, said decline is probably "better" than the alternative, and the Germans/Japanese, while paying cash reparations, also had "inbound" help. It was the Bristish Army that started rebuilding the VW factory, for example.

Well exactly - but then a cynic might say from a US standpoint from Woodrow Wilson on that was precisely the point.

 

It was the British Army that stated rebuilding the still flegling VW plant - on completion, the reparations board then offered VW to the British along with parts of IG Farben (those parts becoming part of ICI) - the British government (notably Sir Stafford Cripps - you don't get names like that anymore) and the head of the Morris Car compnay turned VW down, on the grounds that apart from the WWII Kubelwagen, it only really had one other saleable product - the funny little 'Beetle' shaped car the company was bamed after which they believed nobody in their right mind would buy. Oh dear.

Link to comment
Share on other sites

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now
  • Recently Browsing   0 members

    • No registered users viewing this page.
×
×
  • Create New...