Note 13 — Chapter XI

At first the French and British refused to name any specific sum that might be collected from Germany, requesting the Americans to submit estimates. The latter named $5,000,000,000 as representing a sum that might be collected prior to May 1, 1921, and thereafter a capital sum as high as $25,000,000,000, always provided that the other clauses in the treaty did not too greatly drain Germany's resources. After some weeks of discussion the French experts stated that if the figures could be revised up to $40,000,000,000 they would recommend them to their chiefs. The British refused to accept a figure below $47,000,000,000.