International indebtedness involves not only the usual slavery of debt, but the interest of the creditor nations in the debtor country. - Gustav Stresemann

The renunciation of war indemnities, which has been greatly lauded in some quarters here, does not appear to me only in the shining light of the conciliation it will lead to, but, as a citizen, I also see it in the light of the colossal burdens to which Germany will be exposed if this struggle ends without war indemnities.

Even General Ludendorff would know that on all occasions when an appeal is made to the people, an appeal that concerns the vital interests of this land, the "Socialist Marxists" feel and vote as Germans.

I hope that you will be in agreement with me when I beg you to do everything possible to prevent Hindenburg's retirement. We must under no circumstances bear the responsibility before the bar of history for having overthrown Hindenburg. I feel that even the abdication of the Kaiser would be easier to bear than the retirement of Hindenburg.