The author has been intimately connected with the Reparation Commission and other bodies concerned with the problem over a period of many years. Like others who can speak authoritatively on the subject, he abstains from vituperative polemics and takes a reasoned attitude towards the whole matter. He brings out once more, and in very telling fashion, the disasters wrought by the unhappy union of economics and politics, and has some strong words both for Lloyd George and for Poincaré. For him, too, the Dawes Plan was the break of dawn. Not that he or any of his colleagues regarded it as a panacea or even as a permanent arrangement. But it paved the way for the settlement embodied in the Young Plan. Sir Andrew's book is not a book of revelations. It cannot even be said that it contains many novel ideas or interpretations. But it is authoritative, substantial and clear throughout, and is easily one of the best guides in English for the student who tries to find his way through the labyrinth of an intricate problem.