The Deluge

by Adam Tooze

  80.Ibid., 336–7.

  81.D. Lloyd George, The Great Crusade: Extracts from Speeches Delivered During the War (New York, 1918), 176–86 (5 January 1918).

  82.C. Seymour (ed.), The Intimate Papers of Colonel House (Boston, MA, 1926–8), vol. 3, 341.

  10 THE ARSENALS OF DEMOCRACY

  1.W. L. Silber, When Washington Shut down Wall Street: The Great Financial Crisis of 1914 and the Origins of America’s Monetary Supremacy (Princeton, NJ, 2007).

  2.H. Strachan, The First World War, vol. 1, To Arms (Oxford, 2001).

  3.V. Lenin, ‘“Left-Wing” Childishness’, April 1918, in V. I. Lenin, Collected Works, vol. 27 (Moscow, 1972), 323–34.

  4.For an example of Rathenau’s influence see A. Dauphin-Meunier, ‘Henri de Man et Walther Rathenau’, Revue Européenne des Sciences Sociales 12, no. 31 (1974), 103–20.

  5.G. Feldman, Army, Industry and Labour in Germany, 1914–1918 (Oxford, 1992).

  6.T. S. Broadberry and M. Harrison (eds), The Economics of World War I (Cambridge, 2005); K. D. Stubbs, Race to the Front: The Material Foundations of Coalition Strategy in the Great War, 1914–1918 (Westport, CT, 2002).

  7.J. Terraine, White Heat: The New Warfare 1914–1918 (London, 1982).

  8.D. L. Lewis, The Public Image of Henry Ford (Detroit, MI, 1976), 70–77, 93–5.

  9.R. Alvarado and S. Alvarado, Drawing Conclusions on Henry Ford (Detroit, MI, 2001), 82.

  10.C. S. Maier, In Search of Stability: Explorations in Historical Political Eonomy (Cambridge, 1987), 19–69, and J. Herf, Reactionary Modernism: Technology, Culture and Politics in Weimar and the Third Reich (Cambridge, 1984).

  11.D. R. Woodward, Trial by Friendship: Anglo-American Relations, 1917–1918 (Lexington, KY, 1993), 130–49.

  12.Y.-H. Nouailhat, France et Etats-Unis: août 1914–avril 1917 (Paris, 1979), 250–62.

  13.This is the repeated refrain of the official report, B. Crowell, America’s Munitions 1917–1918 (Washington, DC, 1919).

  14.J. H. Morrow, The Great War in the Air: Military Aviation from 1909 to 1921 (Washington, DC, 1993), 338.

  15.Woodward, Trial by Friendship, 118–19.

  16.R. Sicotte, ‘Economic Crisis and Political Response: The Political Economy of the Shipping Act of 1916’, The Journal of Economic History 59, no. 4 (December 1999), 861–84.

  17.E. E. Day, ‘The American Merchant Fleet: A War Achievement, a Peace Problem’, The Quarterly Journal of Economics 34, no. 4 (August 1920), 567–606.

  18.Woodward, Trial by Friendship, 136.

  19.Ibid., 155, 159.

  20.Papers Relating to the Foreign Relations of the United States: Lansing Papers (Washington, DC, 1940), vol. 2, 205.

  21.D. Rossini, Woodrow Wilson and the American Myth in Italy (Cambridge, MA, 2008), 100–03.

  22.A. Salter, Allied Shipping Control (Oxford, 1921).

  23.F. Duchêne, Jean Monnet: The First Statesman of Interdependence (New York, 1994).

  24.A. Kaspi, Le Temps des Américains. Le concours américain à la France en 1917–1918 (Paris, 1976), 253–65, speaks of a ‘victoire ignorée’.

  25.G. D. Feldman, ‘Die Demobilmachung und die Sozialordnung der Zwischenkriegszeit in Europa’, Geschichte und Gesellschaft, 9. Jahrg., vol. 2 (1983), 156–77.

  26.E. Roussel, Jean Monnet 1888–1979 (Paris, 1996), 67.

  27.C. P. Parrini, Heir to Empire: United States Economic Diplomacy, 1916–1923 (Pittsburgh, PA, 1969), 31–2.

  28.J. J. Safford, Wilsonian Maritime Diplomacy (New Brunswick, NJ, 1978), 149.

  29.Salter, Allied Shipping, 165–74.

  30.W. Churchill, The World Crisis, 1916–1918 (London, 1927), vol. 2, 195.

  31.R. Skidelsky, John Maynard Keynes: Hopes Betrayed, 1883–1920 (London, 1983), vol. 1, 342; K. Burk, Britain, America and the Sinews of War (Boston, MA, 1985).

  32.A. S. Link (ed.) et al., The Papers of Woodrow Wilson [hereafter PWW], 69 vols (Princeton, NJ, 1966–94), vol. 43, 136.

  33.Skidelsky, John Maynard Keynes, vol. 1, 345.

  34.R. Ally, Gold and Empire: The Bank of England and South Africa’s Gold Producers, 1886–1926 (Johannesburg, 1994), 31.

  35.PWW, vol. 43, 390–91, 424–5.

  36.Ibid., 34, 44, and 223–30, 326–33.

  37.Ally, Gold and Empire, 34–41.

  38.D. Kumar (ed.), The Cambridge Economic History of India (Cambridge, 1983), and M. Goswami, Producing India (Chicago, IL, 2004), 209–41.

  39.H. S. Jevons, The Future of Exchange and the Indian Currency (London, 1922), 190–200.

  40.H. Tinker, The Foundations of Local Self-Government in India, Pakistan and Burma (London, 1954), 96.

  41.G. Balachandran, John Bullion’s Empire: Britain’s Gold Problem and India Between the Wars (London, 1996), 54–9.

  42.Jevons, The Future, 206; F. L. Israel, ‘The Fulfillment of Bryan’s Dream: Key Pittman and Silver Politics, 1918–1933’, Pacific Historical Review 30, no. 4 (November 1961), 359–80.

  43.Balachandran, John Bullion’s Empire, 58.

  44.I. Abdullah, ‘Rethinking the Freetown Crowd: The Moral Economy of the 1919 Strikes and Riot in Sierra Leone’, Canadian Journal of African Studies 28, no. 2 (1994), 197–218.

  45.T. Yoshikuni, ‘Strike Action and Self-Help Associations: Zimbabwean Worker Protest and Culture after World War I’, Journal of Southern African Studies 15, no. 3 (1989), 440–68.

  46.M. A. Rifaat, The Monetary System of Egypt: An Inquiry into its History and Present Working (London, 1935).

  47.A. E. Crouchley, The Economic Development of Modern Egypt (London, 1938).

  48.P. H. Kratoska, ‘The British Empire and the Southeast Asian Rice Crisis of 1919–1921’, Modern Asian Studies 24, no. 1 (February 1990), 115–46.

  49.M. Lewis, Rioters and Citizens: Mass Protest in Imperial Japan (Berkeley, CA, 1990).

  50.J. C. Ott, When Wall Street Met Main Street: The Quest for an Investors’ Democracy (Cambridge, MA, 2011), 64–135.

  51.J. C. Hollander, ‘Certificates of Indebtedness in Our War Financing’, The Journal of Political Economy 26, no. 9 (November 1918), 901–08; C. Snyder, ‘War Loans, Inflation and the High Cost of Living’, Annals of the American Academy of Political and Social Science 75 (January 1918), 140–46; A. Barton Hepburn, J. H. Hollander and B. M. Anderson, Jr, ‘Discussion of Government’s Financial Policies in Relation to Inflation’, Proceedings of the Academy of Political Science in the City of New York 9, no. 1 (June 1920), 55–66.

  52.A. H. Hansen, ‘The Sequence in War Prosperity and Inflation’, Annals of the American Academy of Political and Social Science 89 (May 1920), 234–46.

  53.C. Gilbert, American Financing of World War I (Westport, CT, 1970), 200–19.

  54.E. B. Woods, ‘Have Wages Kept Pace with the Cost of Living?’, Annals of the American Academy of Political and Social Science 89 (May 1920), 135–47.

  55.B. D. Mudgett, ‘The Course of Profits during the War’, and B. M. Manly, ‘Have Profits Kept Pace with the Cost of Living?’, Annals of the American Academy of Political and Social Science 89 (May 1920), 148–62.

  11 ARMISTICE: SETTING THE WILSONIAN SCRIPT

  1.J. D. Morrow, The Great War: An Imperial History (London, 2005), 246–7.

  2.D. Stevenson, With Our Backs to the Wall: Victory and Defeat in 1918 (London, 2011).

  3.W. Ribhegge, Frieden für Europa: Die Politik der deutschen Reichstagsmehrheit, 1917–18 (Essen, 1988), 312.

  4.See the crucial meetings of September 1918 documented in Der Interfraktioneller Ausschuss, 1917/18 [hereafter IFA], eds E. Matthias and R. Morsey (Düsseldorf, 1959), vol. 2, 494–788.

  5.IFA, vol. 2, 541.

  6.Michael Geyer, ‘Insurrectionary Warfare: The Germa
n Debate about a Levée en Masse in October 1918’, The Journal of Modern History 73, no. 3 (September 2001), 459–527.

  7.K. Helfferich, Der Weltkrieg (Berlin, 1919), vol. 3, 536–7.

  8.IFA, vol. 2, 485.

  9.M. Erzberger, Der Völkerbund. Der Weg zum Weltfrieden (Berlin, 1918).

  10.IFA, vol. 2, 615–16.

  11.Ibid., 626–7.

  12.F. K. Scheer, Die Deutsche Friedensgesellschaft (1892–1933): Organisation, Ideologie und Politische Ziele. Ein Beitrag zur Geschichte des Pazifismus in Deutschland (Frankfurt, 1981), 331–2.

  13.IFA, vol. 2, 530.

  14.Ibid., 779–82.

  15.A. S. Link (ed.) et al., The Papers of Woodrow Wilson [hereafter PWW], 69 vols (Princeton, NJ, 1966–94), vol. 42, 433. Reinforced by House, see C. Seymour (ed.), The Intimate Papers of Colonel House (Boston, MA, 1928), vol. 3, 130–38.

  16.PWW, vol. 58, 172.

  17.D. R. Woodward, Trial by Friendship: Anglo-American Relations, 1917–1918 (Lexington, KY, 1993), 210.

  18.Ibid., 218–19.

  19.PWW, vol. 53, 338.

  20.PWW, vol. 51, 415.

  21.C. M. Andrew and A. S. Kanya, ‘France, Africa, and the First World War’, The Journal of African History 19, no. 1 (1978), 11–23.

  22.See the sympathetic evaluation of their options by Tasker Bliss, the American representative on the Supreme War Council, in Papers Relating to the Foreign Relations of the United States: Lansing Papers (Washington, DC, 1940), vol. 2, 288.

  23.PWW, vol. 43, 172–4.

  24.Most influentially J. M. Keynes, The Economic Consequences of the Peace (London, 1919), 60.

  25.Nicolson notes the basic duality of intention that underpinned and undermined the peace, but fails to consider the circumstances of the Armistice that created it, see H. Nicolson, Peacemaking, 1919 (New York, 1965), 82–90.

  26.P. Krüger, ‘Die Reparationen und das Scheitern einer deutschen Verständigungs-politik auf der Pariser Friedenskonferenz im Jahre 1919’, Historische Zeitschrift 221, no. 2 (October 1975), 326–72.

  27.T. J. Knock, To End All Wars: Woodrow Wilson and the Quest for a New Order (Princeton, NJ, 1992), 170–72.

  28.Ibid., 176.

  29.See E. Morison (ed.), The Letters of Theodore Roosevelt (Cambridge, MA, 1951), vol. 1, 378–81. On Roosevelt’s concern that Lloyd George not break with Wilson, see ibid., vol. 1, 289.

  30.Knock, To End All Wars, 176. See the Cabot Lodge and Roosevelt correspondence in C. Redmond (ed.), Selections from the Correspondence of Theodore Roosevelt and Henry Cabot Lodge 1884–1918 (New York, 1925), vol. 2, 542–3.

  31.Knock, To End All Wars, 180.

  32.Ibid., 178.

  33.J. M. Cooper, Breaking the Heart of the World: Woodrow Wilson and the Fight for the League of Nations (Cambridge, 2001), 39.

  34.Redmond, The Letters of Theodore Roosevelt, vol. 1, 394–5.

  12 DEMOCRACY UNDER PRESSURE

  1.A. S. Link (ed.) et al., The Papers of Woodrow Wilson [hereafter PWW], 69 vols (Princeton, NJ, 1966–94), vol. 53, 366.

  2.R. Olson, The Emergence of Kurdish Nationalism and the Sheikh Said Rebellion, 1880–1925 (Austin, TX, 1989), 28–9.

  3.R. M. Coury, The Making of an Egyptian Arab Nationalist: The Early Years of Azzam Pasha, 1893–1936 (Reading, 1998), 159.

  4.E. Manela, The Wilsonian Moment: Self-Determination and the International Origins of Anticolonial Nationalism (Oxford, 2007).

  5.M. Geyer, ‘Zwischen Krieg und Nachkrieg’, in A. Gallus (ed.), Die vergessene Revolution (Göttingen, 2010), 187–222.

  6.A. Mayer, Politics and Diplomacy of Peacemaking: Containment and Counterrevolution at Versailles, 1918–1919 (London, 1968).

  7.V. I. Lenin, ‘Report at a Joint Session of the All-Russia Central Executive Committee: The Moscow Soviet, Factory Committees and Trade Unions, October 22 1918’, in V. I. Lenin, Collected Works (Moscow, 1974), vol. 28, 113–26.

  8.E. Mawdsley, The Russian Civil War (London, 2007).

  9.M. Gilbert, Winston S. Churchill, vol. 4, The Stricken World, 1917–1922 (London, 1975), 234.

  10.J. M. Thompson, Russia, Bolshevism, and the Versailles Peace (Princeton, NJ, 1966).

  11.The following quotes are from Document 129 in C. K. Cumming and W. W. Pettit (eds), Russian-American Relations, March 1917–March 1920 (New York, 1920), 284–9.

  12.Gilbert, Churchill, vol. 4, 230.

  13.M. J. Carley, ‘Episodes from the Early Cold War: Franco-Soviet Relations, 1917–1927’, Europe-Asia Studies 52, no. 7 (November 2000), 1,276.

  14.Document 127, ‘Russian-American Relations’, 281.

  15.As brilliantly observed by Soutou, the Western reorientation of the leading circles in Germany began not in 1923 but already in the autumn of 1918, in G.-H. Soutou, L’Or et le Sang: Les Buts de guerre économique de la Première Guerre Mondiale (Paris, 1989), 745.

  16.R. Luxemburg, ‘What Does the Spartacus League Want?’, Die Rote Fahne, 14 December 1918, and The Russian Revolution (written 1918, published Berlin, 1922).

  17.K. Kautsky, Terrorismus und Kommunismus (Berlin, 1919).

  18.H. A. Winkler, Arbeiter und Arbeiterbewegung in der Weimarer Republik (Berlin, 1984), vol. 1.

  19.R. Luxemburg, ‘The National Assembly’, Die Rote Fahne, 20 November 1918.

  20.G. D. Feldman, The Great Disorder: Politics, Economics, and Society in the German Inflation, 1914–1924 (Oxford, 1997).

  21.C. Mathews, ‘The Economic Origins of the Noskepolitik’, Central European History 27, no. 1 (1994), 65–86.

  22.G. Noske, Von Kiel bis Kapp. Zur Geschichte der deutschen Revolution (Berlin, 1920), 68.

  23.W. Wette, Gustav Noske (Düsseldorf, 1987), 289–321.

  24.Mayer, Politics and Diplomacy, 373–409; A. S. Lindemann, The ‘Red Years’: European Socialism Versus Bolshevism, 1919–1921 (Berkeley, CA, 1974); G. A. Ritter (ed.), Die II Internationale 1918/1919. Protokolle, Memoranden, Berichte und Korrespondenzen (Berlin, 1980), vols 1 and 2.

  25.PWW, vol. 53, 574.

  26.D. Marquand, Ramsay MacDonald (London, 1997), 248–9; C. F. Brand, ‘The Attitude of British Labor Toward President Wilson during the Peace Conference’, The American Historical Review 42, no. 2 (January 1937), 244–255.

  27.Ritter, Die II Internationale, vol. 1, 208–85.

  28.Ibid., vol. 1, 230–43.

  29.See Hoover’s incongruous enthusiasm for the USPD in Two Peacemakers in Paris: The Hoover-Wilson Post-Armistice Letters, 1918–1920 (College Station, TX, 1978), 128–9 and 135–41.

  30.Ritter, Die II Internationale, 288–377.

  31.The opposite position of the necessity of SPD-USPD unity is crisply articulated by S. Miller, Burgfrieden und Klassenkampf: Die deutsche Sozialdemokratie im Ersten Weltkrieg (Düsseldorf, 1974), 320.

  32.D. Tanner, Political Change and the Labour Party, 1900–1918 (Cambridge, 1990), 393–7; R. McKibbin, Parties and People, England 1914–1951 (Oxford, 2010), 30.

  33.J. Turner, British Politics and the Great War: Coalition and Conflict, 1915–1918 (New Haven, CT, 1992), 319.

  34.Marquand, MacDonald, 236.

  35.M. Pugh, Electoral Reform in War and Peace, 1906–1918 (London, 1978), 176–7.

  36.M. Cowling, The Impact of Labour, 1920–24 (Cambridge, 1971).

  37.Tanner, Political Change, 403–4.

  38.L. Haimson and G. Sapelli, Strikes, Social Conflict, and the First World War (Milan, 1992); C. Wrigley, Challenges of Labour: Central and Western Europe 1917–1920 (London, 1993); B. J. Silver, Forces of Labor: Workers’ Movements and Globalization since 1870 (Cambridge, 2003).

  39.C. Wrigley, Lloyd George and the Challenge of Labour: The Post-War Coalition, 1918–22 (Hemel Hempstead,
1990).

  40.B. Millman, Managing Domestic Dissent in First World War Britain (London, 2000), 263.

  41.Wrigley, Lloyd George and the Challenge of Labour, 223.

  42.Turner, British Politics, 314.

  43.Wrigley, Lloyd George and the Challenge of Labour, 82.

  44.Ibid., 204.

  45.E. Morgan, Studies in British Financial Policy, 1914–1925 (London, 1952).

  46.L. Ross, ‘Debts, Revenues and Expenditures and Note Circulation of the Principal Belligerents’, The Quarterly Journal of Economics 34, no. 1 (November 1919), 168.

  47.R. E. Bunselmeyer, The Cost of the War, 1914–1919: British Economic War Aims and the Origins of Reparations (Hamden, CT, 1975), 106–48.

  48.E. Johnson and D. Moggridge (eds), The Collected Writings of John Maynard Keynes (Cambridge, 2012), vol. 16, 418–19.

  49.B. Kent, The Spoils of War (Oxford, 1991), and D. Newton, British Policy and the Weimar Republic 1918–1919 (Oxford, 1997).

  50.M. Daunton, Just Taxes: The Politics of Taxation in Britain, 1914–1979 (Cambridge, 2002), 69–72.

  51.D. P. Silverman, Reconstructing Europe after the Great War (Cambridge, MA, 1982), 71.

  52.Soutou, L’Or et Le Sang, 806–28.

  53.L. Blum, L’Oeuvre de Léon Blum, 3 vols (Paris, 1972), vol. 1, 278.

  54.E. Clémentel, La France et la politique économique interalliée (Paris, 1931), 343.

  13 A PATCHWORK WORLD ORDER

  1.A. S. Link (ed.) et al., The Papers of Woodrow Wilson [hereafter PWW], 69 vols (Princeton, NJ, 1966–94), vol. 53, 550.

  2.T. J. Knock, To End All Wars: Woodrow Wilson and the Quest for a New Order (Princeton, NJ, 1992), 224.

  3.The most influential being R. S. Baker, Woodrow Wilson and the World Settlement (New York, 1922), which shaped A. Mayer, Wilson vs. Lenin: Political Origins of the New Diplomacy, 1917–1918 (New York, 1964).

  4.C. Schmitt, Positionen und Begriffe im Kampf mit Weimar-Genf-Versailles, 1923–1939 (Hamburg, 1940); T. Veblen, ‘Peace’, in Essays in Our Changing Order (New York, 1934), 415–22, criticized the Covenant as a defunct expression of Woodrow Wilson’s mid-Victorian liberalism.

  5.PWW, vol. 55, 175–77.