Reparations from the World War 1
REPARATIONS FROM THE WORLD WAR 1
A lot of damage was realized after the end of the World War 1. Germany being on the fore front of the war was as a result accused of the deaths and damage that became of this war. In my opinion, it was a good decision to levy the fines on Germany and its allies for the losses that came up from the war. The signing of the treaty of Versailles was a good move because from the treaty, Germany and Austria were put to task to pay for the losses. The prize value of the reparations was set at $ 32 billion as at 1921. Even though this amount was too much, the Germans deserved to pay for all the loss of lives and property experienced at the time.
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THE ROLE OF REPARATION ON THE GREAT DEPRESSION
The $ 32 billion fine put in 1921 was of great shake up for the German territory. This meant that the country had to pay a lot of money year in year out until this amount would be cleared. The reparations put on Germany and Austria is one of the causes of the great depression in my opinion. This is because very less amount of money was retained in the country to aid in internal developments. The Wall Street crash of 1929 took place in the middle of the reparation payment. Many world leaders realized the burden experienced by Germany and pushed for the suspension of the reparations for a period of one year. This was to help Germany and allies to strengthen economically.
Chambers. (2007).The western experience, 9th ed. NY: McGraw-Hill.