A Revision of the Treaty
()
About this ebook
Read more from John Maynard Keynes
Supply and Demand Rating: 5 out of 5 stars5/5Essays in Persuasion Rating: 4 out of 5 stars4/5The General Theory of Employment, Interest and Money. Illustrated Rating: 4 out of 5 stars4/5Essays in Biography Rating: 5 out of 5 stars5/5The Economic Consequences of the Peace Rating: 5 out of 5 stars5/5A Tract on Monetary Reform Rating: 0 out of 5 stars0 ratingsEssays in Persuasion Rating: 4 out of 5 stars4/5A Tract on Monetary Reform Rating: 0 out of 5 stars0 ratingsIndian Currency and Finance Rating: 5 out of 5 stars5/5The General Theory of Employment, Interest and Money Rating: 0 out of 5 stars0 ratingsThe Economic Consequences of the Peace (Rediscovered Books): With linked Table of Contents Rating: 4 out of 5 stars4/5The Economic Consequences of Peace Rating: 0 out of 5 stars0 ratingsThe Economic Consequences of the Peace Rating: 0 out of 5 stars0 ratingsIndian Currency and Finance Rating: 0 out of 5 stars0 ratings
Related to A Revision of the Treaty
Related ebooks
The Economic Consequences of the Peace Rating: 4 out of 5 stars4/5Summary of Leigh Phillips & Michal Rozworski's The People's Republic of Walmart Rating: 0 out of 5 stars0 ratingsA Revision of the Treaty Rating: 0 out of 5 stars0 ratingsTHE INSTINCT OF WORKMANSHIP & THE STATE OF THE INDUSTRIAL ARTS Rating: 0 out of 5 stars0 ratingsA Book of Prefaces Rating: 0 out of 5 stars0 ratingsThe Political Economy of Development: The World Bank, Neoliberalism and Development Research Rating: 0 out of 5 stars0 ratingsEssays in Biography Rating: 5 out of 5 stars5/5Retribution Book 1 - Seeds of Revenge: Retribution, #1 Rating: 0 out of 5 stars0 ratingsThe Theory of the Leisure Class: An Economic Study of American Institutions and a Social Critique of Conspicuous Consumption Rating: 0 out of 5 stars0 ratingsThe New Latin American Left: Cracks in the Empire Rating: 0 out of 5 stars0 ratingsImage of the Indian Rating: 0 out of 5 stars0 ratingsOn Liberty Rating: 0 out of 5 stars0 ratingsUnwritten Rule: How to Fix the British Constitution Rating: 0 out of 5 stars0 ratings1920 - Dips Into The Near Future: An Anti-War Pamphlet from World War I Rating: 0 out of 5 stars0 ratingsElite Capture Rating: 0 out of 5 stars0 ratingsImagining Unequals, Imagining Equals: Concepts of Equality in History and Law Rating: 0 out of 5 stars0 ratingsThe Economic Consequences of the Peace (Rediscovered Books): With linked Table of Contents Rating: 4 out of 5 stars4/5THE HIGHER LEARNING IN AMERICA: A Memorandum on the Conduct of Universities by Business Men Rating: 0 out of 5 stars0 ratingsThe Platonic Political Art: A Study of Critical Reason and Democracy Rating: 0 out of 5 stars0 ratingsTHE THEORY OF BUSINESS ENTERPRISE (Nature, Causes, Utility & Drift of Business Enterprise): A Political Economy Book Rating: 0 out of 5 stars0 ratingsLiberalism Rating: 0 out of 5 stars0 ratingsHugh Garner's Best Stories: A Critical Edition Rating: 0 out of 5 stars0 ratingsFrench and German Socialism in Modern Times Rating: 0 out of 5 stars0 ratingsThe Theory of the Leisure Class Rating: 0 out of 5 stars0 ratingsThe Discovery of Iran: Taghi Arani, a Radical Cosmopolitan Rating: 0 out of 5 stars0 ratingsThe American Credo A Contribution Toward the Interpretation of the National Mind Rating: 0 out of 5 stars0 ratingsEmbattled Nation: Canada's Wartime Election of 1917 Rating: 0 out of 5 stars0 ratingsFlawed Capitalism: The Anglo-American Condition and its Resolution Rating: 0 out of 5 stars0 ratingsUncertain Times: Anthropological Approaches to Labor in a Neoliberal World Rating: 0 out of 5 stars0 ratings
Classics For You
A La Recherche du Temps Perdu Rating: 5 out of 5 stars5/5Blood Meridian Rating: 4 out of 5 stars4/5Animal Farm: A Fairy Story Rating: 5 out of 5 stars5/5Old Man and the Sea Rating: 4 out of 5 stars4/5La Peste (The Plague) Rating: 3 out of 5 stars3/5Finnegans Wake by James Joyce (Illustrated) Rating: 0 out of 5 stars0 ratingsThe Ultimate Hitchhiker's Guide to the Galaxy: The Complete Trilogy in Five Parts Rating: 4 out of 5 stars4/5The Baron In The Trees Rating: 4 out of 5 stars4/5Flowers for Algernon Rating: 4 out of 5 stars4/5On the shortness of life Rating: 4 out of 5 stars4/5The Ones Who Walk Away from Omelas: A Story Rating: 5 out of 5 stars5/5If On A Winter's Night A Traveler Rating: 4 out of 5 stars4/5Ulysses by James Joyce (Illustrated) Rating: 0 out of 5 stars0 ratingsLearn French! Apprends l'Anglais! THE PICTURE OF DORIAN GRAY: In French and English Rating: 4 out of 5 stars4/5Crackling Mountain and Other Stories Rating: 4 out of 5 stars4/5The Third Policeman Rating: 4 out of 5 stars4/5The Corrections Rating: 4 out of 5 stars4/5Anna Karenina Rating: 4 out of 5 stars4/5Invisible Cities Rating: 5 out of 5 stars5/5I Am A Cat Rating: 5 out of 5 stars5/5Mythos Rating: 4 out of 5 stars4/5The Lathe Of Heaven Rating: 4 out of 5 stars4/5Women: A Novel Rating: 4 out of 5 stars4/5Orgueil et Préjugés (Edition bilingue: français-anglais) Rating: 5 out of 5 stars5/5That Glimpse of Truth: The 100 Finest Short Stories Ever Written Rating: 4 out of 5 stars4/5Letter from an Unknown Woman and Other Stories Rating: 4 out of 5 stars4/5The Murder of Roger Ackroyd Rating: 4 out of 5 stars4/5Moments of Being by Virginia Woolf - Delphi Classics (Illustrated) Rating: 0 out of 5 stars0 ratings
Related categories
Reviews for A Revision of the Treaty
0 ratings0 reviews
Book preview
A Revision of the Treaty - John Maynard Keynes
Keynes.
CHAPTER I - The State of Opinion
It is the method of modern statesmen to talk as much folly as the public demand and to practise no more of it than is compatible with what they have said, trusting that such folly in action as must wait on folly in word will soon disclose itself as such, and furnish an opportunity for slipping back into wisdom,—the Montessori system for the child, the Public. He who contradicts this child will soon give place to other tutors. Praise, therefore, the beauty of the flames he wishes to touch, the music of the breaking toy; even urge him forward; yet waiting with vigilant care, the wise and kindly savior of Society, for the right moment to snatch him back, just singed and now attentive.
I can conceive for this terrifying statesmanship a plausible defense. Mr. Lloyd George took the responsibility for a Treaty of Peace, which was not wise, which was partly impossible, and which endangered the life of Europe. He may defend himself by saying that he knew that it was not wise and was partly impossible and endangered the life of Europe; but that public passions and public ignorance play a part in the world of which he who aspires to lead a democracy must take account; that the Peace of Versailles was the best momentary settlement which the demands of the mob and the characters of the chief actors conjoined to permit; and for the life of Europe, that he has spent his skill and strength for two years in avoiding or moderating the dangers.
Such claims would be partly true and cannot be brushed away. The private history of the Peace Conference, as it has been disclosed by French and American participators, displays Mr. Lloyd George in a partly favorable light, generally striving against the excesses of the Treaty and doing what he could, short of risking a personal defeat. The public history of the two years which have followed it exhibit him as protecting Europe from as many of the evil consequences of his own Treaty, as it lay in his power to prevent, with a craft few could have bettered, preserving the peace, though not the prosperity, of Europe, seldom expressing the truth, yet often acting under its influence. He would claim, therefore, that by devious paths, a faithful servant of the possible, he was serving Man.
He may judge rightly that this is the best of which a democracy is capable,—to be jockeyed, humbugged, cajoled along the right road. A preference for truth or for sincerity as a methodmay be a prejudice based on some esthetic or personal standard, inconsistent, in politics, with practical good.
We cannot yet tell. Even the public learns by experience. Will the charm work still, when the stock of statesmenʼs credibility, accumulated before these times, is getting exhausted?
In any event, private individuals are not under the same obligation as Cabinet Ministers to sacrifice veracity to the public weal. It is a permitted self–indulgence for a private person to speak and write freely. Perhaps it may even contribute one ingredient to the congeries of things which the wands of statesmen cause to work together, so marvelously, for our ultimate good.
For these reasons I do not admit error in having based The Economic Consequences of the Peace on a literal interpretation of the Treaty of Versailles, or in having examined the results of actually carrying it out. I argued that much of it was impossible; but I do not agree with many critics, who held that, for this very reason, it was also harmless. Inside opinion accepted from the beginning many of my main conclusions about the Treaty. But it was not therefore unimportant that outside opinion should accept them also.
For there are, in the present times, two opinions; not, as in former ages, the true and the false, but the outside and the inside; the opinion of the public voiced by the politicians and the newspapers, and the opinion of the politicians, the journalists and the civil servants, upstairs and backstairs and behind–stairs, expressed in limited circles. In time of war it became a patriotic duty that the two opinions should be as different as possible; and some seem to think it so still.
This is not entirely new. But there has been a change. Some say that Mr. Gladstone was a hypocrite; yet if so, he dropped no mask in private life. The high tragedians, who once ranted in the Parliaments of the world, continued it at supper afterwards. But appearances can no longer be kept up behind the scenes. The paint of public life, if it is ruddy enough to cross the flaring footlights of to–day, cannot be worn in private,—which makes a great difference to the psychology of the actors themselves. The multitude which lives in the auditorium of the world needs something larger than life and plainer than the truth. Sound itself travels too slowly in this vast theater, and a true word no longer holds when its broken echoes have reached the furthest listener.
Those who live in the limited circles and share the inside opinion pay both too much and too little attention to the outside opinion; too much, because, ready in words and promises to concede to it everything, they regard open opposition as absurdly futile; too little, because they believe that these words and promises are so certainly destined to change in due season, that it is pedantic, tiresome, and inappropriate to analyze their literal meaning and exact consequences. They know all this nearly as well as the critic, who wastes, in their view, his time and his emotions in exciting himself too much over what, on his own showing, cannot possibly happen. Nevertheless, what is said before the world is, still, of deeper consequence than the subterranean breathings and well–informed whisperings, knowledge of which allows inside opinion to feel superior to outside opinion, even at the moment of bowing to it.
But there is a further complication. In England (and perhaps elsewhere also), there are two outside opinions, that which is expressed in the newspapers and that which the mass of ordinary men privately suspect to be true. These two degrees of the outside opinion are much nearer to one another than they are to the inside, and under some aspects they are identical; yet there is under the surface a real difference between the dogmatism and definiteness of the press and the living, indefinite belief of the individual man. I fancy that even in 1919 the average Englishman never really believed in the indemnity; he took it always with a grain of salt, with a measure of intellectual doubt. But it seemed to him that for the time being there could be little practical harm in going on the indemnity tack, and also that, in relation to his feelings at that time, a belief in the possibility of boundless payments by Germany was in better sentiment, even if less true, than the contrary. Thus the recent modification in British outside opinion is only partly intellectual, and is due rather to changed conditions; for it is seen that perseverance with the indemnity does now involve practical harm, whilst the claims of sentiment are no longer so decisive. He is therefore prepared to attend to arguments, of which he had always been aware out of the corner of his eye.
Foreign observers are apt to heed too little these unspoken sensibilities, which the voice of the press is bound to express ultimately. Inside opinion gradually affects them by percolating to wider and wider circles; and they are susceptible in time to argument, common sense, or self–interest. It is the business of the modern politician to be accurately aware of all three degrees; he must have enough intellect to understand the inside opinion, enough sympathy to detect the inner outside opinion, and enough brass to express the outer outside opinion.
Whether this account is true or fanciful, there can be no doubt as to the immense change in public sentiment over the past two years. The desire for a quiet life, for reduced commitments, for comfortable terms with our neighbors is now paramount. The megalomania of war has passed away, and every one wishes to conform himself with the facts. For these reasons the Reparation Chapter of the Treaty of Versailles is crumbling. There is little prospect now of the disastrous consequences of its fulfilment.
I undertake in the following chapters a double task, beginning with a chronicle of events and a statement of the present facts, and concluding with proposals of what we ought to do. I naturally attach primary importance to the latter. But it is not only of historical interest to glance at the recent past. If we look back a little closely on the two years which have just elapsed (and the general memory unaided is now so weak that we know the past little better than the future), we shall be chiefly struck, I think, by the large element of injurious make–believe. My concluding proposals assume that this element of make–believe has ceased to be politically necessary; that outside opinion is now ready for inside opinion to disclose, and act upon, its secret convictions; and that it is no longer an act of futile indiscretion to speak sensibly in public.
CHAPTER II - From the Ratification of the Treaty Of Versailles to the Second Ultimatum Of London
I. The Execution of the Treaty and the Plebiscites
The Treaty of Versailles was ratified on January 10, 1920, and except in the plebiscite areas its territorial provisions came into force on that date. The Slesvig plebiscite (February and March, 1920) awarded the north to Denmark and the south to Germany, in each case by a decisive majority. The East Prussian plebiscite (July, 1920) showed an overwhelming vote for Germany. The Upper Silesian plebiscite (March, 1921) yielded a majority of nearly two to one in favor of Germany for the province as a whole,[2] but a majority for Poland in certain areas of the south and east. On the basis of this vote, and having regard to the industrial unity of certain disputed areas, the principal Allies, with the exception of France, were of opinion that, apart from the southeastern districts of Pless and Rybnik which, although they contain undeveloped coalfields of great importance, are at present agricultural in character, nearly the whole of the province should be assigned to Germany. Owing to the inability of France to accept this solution, the whole problem was referred to the League of Nations for final arbitration. This body bisected the industrial area in the interests of racial or nationalistic justice; and introduced at the same time, in the endeavor to avoid the consequences of this bisection, complicated economic provisions of doubtful efficiency in the interests of material prosperity. They limited these provisions to fifteen years, trusting perhaps that something will have occurred to revise their decision before the end of that time. Broadly speaking, the frontier has been drawn, entirely irrespective of economic considerations, so as to include as large as possible a proportion of German voters on one side of it and Polish voters on the other (although to achieve this result it has been thought necessary to assign two almost purely German towns, Kattowitz and Königshütte to Poland). From this limited point of view the work may have been done fairly. But the Treaty had directed that economic and geographical considerations should be taken into account also.
I do not intend to examine in detail the wisdom of this decision. It is believed in Germany that subterranean influence brought to bear by France contributed to the result. I doubt if this was a material factor, except that the officials of the League were naturally anxious, in the interests of the League itself, to produce a solution which would not be a fiasco through the members of the Council of the League failing to agree about it amongst themselves; which inevitably imported a certain bias in favor of a solution acceptable to France. The decision raises,