Note 42 — Chapter III
Reading edition
In The Economic Consequences of the Peace, p. 203, I expressly premised that my estimates were based on a value of money not widely different from that existing at the date at which I wrote. Since then prices have risen and fallen back again. The same proviso is necessary in the case of the present estimates. It would have been more practical if, in fixing Germanyʼs liability in terms of money for a long period of years, some provision had been made for adjusting the real burden in accordance with fluctuations in the value of money during the period of payment.