v REPARATION 155

represents, to extract from Germany year after yearthe maximum sum obtainable. There is a greatdifference between fixing a definite sum, whichthough large is within Germany 's capacity to payand yet to retain a little for herself, and fixing asum far beyond her capacity, which is then to bereduced at the discretion of a foreign Commissionacting with the object of obtaining each year themaximum which the circumstances of that yearpermit. The first still leaves her with some slightincentive for enterprise, energy, and hope. Thelatter skins her alive year by year in perpetuity,and however skilfully and discreetly the operationis performed, with whatever regard for not killingthe patient in the process, it would represent apolicy which, if it were really entertained anddeliberately practised, the judgment of men wouldsoon pronounce to be one of the most outrageousacts of a cruel victor in civilised history.

There are other functions and powers of highsignificance which the Treaty accords to the Se-paration Commission. But these will be most con-veniently dealt with in a separate section. •

III. Germany 's Capacity to pay

The forms in which Germany can discharge the' sum which she has engaged herself to pay are threein number—