Balfour claimed that the British government had reluctantly decided that the loans that those countries had received from HM Treasury should be paid back and that reparations from Germany should be collected due to the need for Britain to pay its creditors, the United States.
World War I reparations, made from Germany due to the signing of the Treaty of Versailles
The British economic historian Niall Ferguson in his 1998 book The Pity of War argued that Germany could have paid reparations had there been the political will.
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Under the Hoover Moratorium of June 1931 issued by the American president Herbert Hoover, which was designed to deal with the world-wide financial crisis caused by the bankruptcy of the Creditanstalt in May 1931, Germany ceased paying reparations.
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Therefore, the treaty required Bulgaria to pay a total sum equivalent of 2.250 billion Gold francs in reparations.
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Historian Martin Kitchen argues that the impression the country was crippled by the reparations was a myth.
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In 1929 he debated with John Maynard Keynes, contradicting the latter's view on the consequences of the heavy war reparations payments imposed on Germany.
The aircraft was powered by a single Maybach Mb.IVa water-cooled inline-engine providing 305 hp (228 kW), an engine type usually used to power Zeppelins or R-planes (Riesenflugzeuge like the Zeppelin-Staaken R.VI), received as part of Germany's reparations to Japan after the end of the First World War.
Because many engines had been lost due to break downs or World War I reparations, the Württemberg State Railway procured these locomotives initially for the lines from Esslingen am Neckar via Stuttgart to Ludwigsburg.