Reincarnated as Nikolai II

Chapter 249 Maria Theresa's Wig is Heavy (3)

Watching the German Republic's economy running on a successful path despite experiencing the Ruhr crisis, I begin to have fundamental questions about this Treaty of Versailles.

The Treaty of Versailles, which prevented nothing and achieved nothing.

Though it's full of various military and economic restrictions and content about paying enormous reparations to Belgium and France, if there's one thing the victor nations commonly agreed on while making that treaty, it's just this one thing.

'Originally they planned to raise them up to eat them.'

Looking rationally, the Treaty of Versailles' victor import bans, export restrictions, and tariff abolition all come down to just one word.

Trade deficit.

Yes. That treaty wasn't meant to make reparations and prevent Germany from rising again, but rather when Germany grows, rebuilds, and develops the nation, the victor nations hoped to share that growth.

Have more trade with Germany, but make the defeated nation bear all trade deficits.

'In the end, it couldn't even function properly due to excessive reparations.'

Plus since content was much relaxed after the Ruhr situation and Germany is reviving, clearly that treaty achieved nothing.

Then why did the victor nations try to put a leash on Germany in such a complicated and difficult way?

Because they feared Germany's uprising?

Because they feared Germany's military power?

Or, just because they played colonialism so much they lost judgment to the point of seeing even Germany as a colony?

Though partly correct perhaps, fundamentally wrong.

Because they clearly saw late 19th century Germany growing like a bull during the Belle Époque era from beside them.

The German Empire with 4.9% average annual growth.

Can you imagine the jealousy, envy, and fear that 1.6% France and 2.4% Britain felt when they maintained such growth rates for nearly 10 years?

All those emotions were finally contained in the Treaty of Versailles after 20 years passed.

Russia? At that time we...

'Since that was during Witte's Finance Minister period... it was the 8-9% annual average era.'

We're an exception since we were slightly separated from the Western world and it was a period of catching up on delayed growth.

It's not for nothing that Sergei Witte is praised as the great Prime Minister.

"Every time famine came in the past, nobles' and large landowners' lands only grew. The longer economic recession continues, they'll plunder everything."

This is no different from claiming "Wow! The economy grew!" after swelling assets by robbing others' things rather than creating profit through production.

The more we taste prosperity again in the 20s, the more certain it becomes.

Depression is coming.

This can't be avoided or prevented.

This is why Stolypin became the third Prime Minister.

If Witte and Kokovtsov worked for the Empire's reform and development, his role is the opposite.

"Long-term recession, Kokovtsov and I are calling this the Great Depression."

He must make sure this country doesn't collapse.

==

Though deciding to raise Stolypin was just half a year ago, there were criteria for the next Prime Minister from quite long ago.

'Someone who won't be swept up in politics.'

Though the Duma might feel betrayed as undemocratic, the third Prime Minister will inherit power comparable to previous Prime Ministers.

Sometimes power needs to be concentrated to overcome crisis.

'Next, someone capable in finance, economy, and administration.'

The reason Minister Jugashvili was excluded from candidates. He lacked experience and wasn't as capable as Stolypin in administration and finance.

'Finally, someone who can move according to my will. Precisely, someone who will move for me and the Empire rather than themselves.'

Rather than someone gaining power through election, whether direct or indirect, from a party's selected representative, it becomes someone I appoint.

Meaning I am the party, and the very legitimacy of Prime Minister power itself.

Like some president shouting "Stupid, it's the economy!", such aspects might not be greatly faulted during good times but different during recession.

The third Prime Minister can't be great like Witte or noble like Kokovtsov.

He must slash the Empire with a knife under the name of surgery while rolling through dogfights.

Sometimes he must create scapegoats and not hesitate even at things thought unjust.