GEORGE PERCIVAL AULD
Although this was written in 1924, it could have been written at most times since where the national debt was substantial.
The Germans, having invaded France and other countries in WWI, were determined in the Treaty of Versailles to be responsible for the war. They were to pay reparations to France and other countries to cover the costs to those countries of financing the war and rebuilding what the German invasion destroyed. But Germany too was destitute and needed capital to rebuild and if they paid the reparations whey would have to lay a very heavy tax on all Germans and still would not have enough to rebuild their nation and economy. What made the situation much worse was the fact that most of the wealthy German capitalists—many of whom had profited from supplying military weapons and supplies during the war—took all their money out of Germany, so the wealthiest Germans could not be taxed much at all. Auld, and many others tried to find an equitable solution, but that never happened and German resentment carried over into WWII where the Germans again invaded France.
