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The Economic Consequences of the Peace by John Maynard Keynes
page 55 of 243 (22%)
these States, or in any territory formerly belonging to Germany or her
allies, to be ceded by Germany or her allies to any Power or to be
administered by a Mandatory under the present Treaty." This is a
comprehensive description, overlapping in part the provisions dealt with
under (_a_) above, but including, it should be noted, the new States and
territories carved out of the former Russian, Austro-Hungarian, and
Turkish Empires. Thus Germany's influence is eliminated and her capital
confiscated in all those neighboring countries to which she might
naturally look for her future livelihood, and for an outlet for her
energy, enterprise, and technical skill.

The execution of this program in detail will throw on the Reparation
Commission a peculiar task, as it will become possessor of a great
number of rights and interests over a vast territory owing dubious
obedience, disordered by war, disruption, and Bolshevism. The division
of the spoils between the victors will also provide employment for a
powerful office, whose doorsteps the greedy adventurers and jealous
concession-hunters of twenty or thirty nations will crowd and defile.

Lest the Reparation Commission fail by ignorance to exercise its rights
to the full, it is further provided that the German Government shall
communicate to it within six months of the Treaty's coming into force a
list of all the rights and interests in question, "whether already
granted, contingent or not yet exercised," and any which are not so
communicated within this period will automatically lapse in favor of the
Allied Governments.[27] How far an edict of this character can be made
binding on a German national, whose person and property lie outside the
jurisdiction of his own Government, is an unsettled question; but all
the countries specified in the above list are open to pressure by the
Allied authorities, whether by the imposition of an appropriate Treaty
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