I. War damage and its consequences: changes in economic structure, 1; destruction of property, 3; requisitions and other exactions, 6; the over-all losses; 10; war losses and national wealth, 12; effect on currency and economic recovery, 15; deflationary measures, 18; the present outlook, 21. II. Reparations: early opinions and decisions, 25; the Potsdam agreement, 26; the outlook for reparations, 29. III. The economic disarmament of Germany: plans and proposals, 32; objections to deindustrialization, 35; the Crimea and Potsdam decisions, 37; the German war potential, 38; effects of deindustrialization, 43. IV. Conclusions, 52.

Alleged effects of the Versailles settlements, 615. — I. The export trade: totals, 616; relation to world trade, 619; comparison with prewar figures, 620; relation to home sales, 621; composition, 622; distribution, 625. — II. The import trade: totals, 627; luxuries, 629; raw materials, 631; agricultural products, 631. — III. Industry: output, 633; unemployment, 634. — IV. National income, 635. — V. Conclusions, 636.