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The Economic Consequences of the Peace

Note 139 — Chapter V · Reparation (continued 2)

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This appears to me to be in effect the position (if this paragraph means anything at all), in spite of the following disclaimer of such intentions in the Allies' reply:—"Nor does Paragraph 12(b) of Annex II. give the Commission powers to prescribe or enforce taxes or to dictate the character of the German budget."

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