“Will the discontented peoples of Europe be willing for a generation to come so to order their lives that an appreciable part of their daily produce may be available to meet a foreign payment?” he asked in The Economic Consequences of the Peace. “In short, I do not believe that any of these tributes will continue to be paid, at the best, for more than a few years.”
“不满的欧洲民族会愿意牺牲一代人，让他们拿出日常收入的相当大一部分用于偿还外债吗？”他在《和平的经济后果》（The Economic Consequences of the Peace）中问道。“简言之，我认为这些债务最多只能维持几年，此后就不会得到偿付。”