[95] Dr. Diouritch in his “Economic and Statistical Survey of the Southern Slav Nations” (Journal of Royal Statistical Society, May, 1919), quotes some extraordinary figures of the loss of life:  “According to the official returns, the number of those fallen in battle or died in captivity up to the last Serbian offensive, amounted to 320,000, which means that one half of Serbia’s male population, from 18 to 60 years of age, perished outright in the European War.  In addition, the Serbian Medical Authorities estimate that about 300,000 people have died from typhus among the civil population, and the losses among the population interned in enemy camps are estimated at 50,000.  During the two Serbian retreats and during the Albanian retreat the losses among children and young people are estimated at 200,000.  Lastly, during over three years of enemy occupation, the losses in lives owing to the lack of proper food and medical attention are estimated at 250,000.”  Altogether, he puts the losses in life at above 1,000,000, or more than one-third of the population of Old Serbia.

[96] Come si calcola e a quanto ammonta la richezza d’Italia e delle altre principali nazioni, published in 1919.

[97] Very large claims put forward by the Serbian authorities include many hypothetical items of indirect and non-material damage; but these, however real, are not admissible under our present formula.

[98] Assuming that in her case $1,250,000,000 are included for the general expenses of the war defrayed out of loans made to Belgium by her allies.

[99] It must be said to Mr. Hughes’ honor that he apprehended from the first the bearing of the pre-Armistice negotiations on our right to demand an indemnity covering the full costs of the war, protested against our ever having entered into such engagements, and maintained loudly that he had been no party to them and could not consider himself bound by them.  His indignation may have been partly due to the fact that Australia, not having been ravaged, would have no claims at all under the more limited interpretation of our rights.

[100] The whole cost of the war has been estimated at from $120,000,000,000 upwards.  This would mean an annual payment for interest (apart from sinking fund) of $6,000,000,000.  Could any expert Committee have reported that Germany can pay this sum?

[101] But unhappily they did not go down with their flags flying very gloriously.  For one reason or another their leaders maintained substantial silence.  What a different position in the country’s estimation they might hold now if they had suffered defeat amidst firm protests against the fraud, chicane, and dishonor of the whole proceedings.

[102] Only after the most painful consideration have I written these words.  The almost complete absence of protest from the leading Statesmen of England makes one feel that one must have made some mistake.  But I believe that I know all the facts, and I can discover no such mistake.  In any case I have set forth all the relevant engagements in Chapter IV. and at the beginning of this chapter, so that the reader can form his own judgment.