"The economic clauses of the Treaty were malignant and silly to an extent that made them obviously futile. Germany was condemned to pay reparations on a fabulous scale. These dictates gave expression to the anger of the victors, and to the belief of their peoples that any defeated nation or community can ever pay tribute on a scale which would meet the cost of modern war. The multitudes remained plunged in ignorance of the simplest economic facts, and their leaders, seeking their votes, did not dare to undeceive them. The newspapers, after their fashion, reflected and emphasised the prevailing opinions. Few voices were raised to explain that payment of reparations can only be made by services or by the physical transportation of goods in wagons across land frontiers or in ships across salt water; or that when these goods arrive in the demanding countries, they dislocate the local industry except in very primitive or rigorously controlled societies. In practice, as even the Russians have now learned, the only way of pillaging a defeated nation is to cart away any movables which are wanted, and to drive off a portion of its manhood as permanent or temporary slaves. But the profit gained from such processes bears no relation to the cost of the war. No one in great authority had the wit, ascendancy, or detachment from public folly to declare these fundamental, brutal facts to the electorates; nor would anyone have been believed if he had. The triumphant Allies continued to assert that they would squeeze Germany “till the pips squeaked.” All this had a potent bearing on the prosperity of the world and the mood of the German race."