JOHN MAYNARD KEYNES, C.B.
.ELLOW OF KING'S COLLEGE, CAMBRIDGE
HARCOURT, BRACE AND
234 . EUROPE AFTER THE TREATY
. have already described the losses, by war and
under the Armistice surrenders, to the transport
system of Germany. But even so, 'Germany's
position, taking account of her power of replace- .
ment by manufacture, is probably not so serious
_ as that of some...