CHAPTER XII
THE STRUGGLE FOR THE BAGDAD RAILWAY IS RESUMED
Germany is Eliminated and Russia Withdraws
The Great War has completely destroyed German influence in the Near East. In the way of any resumption of German enterprise in Turkey are formidable obstacles which are not likely to be removed for some time. To begin with, the Turks themselves will not encourage German attempts to recover the Bagdad Railway or other property rights which were liquidated by the Treaty of Versailles. Among Turkish Nationalists there is satisfaction that Turkey has "shaken off the yoke of the ambitious leaders who dragged the country into the general war on the side of Germany" and has got rid of the "arrogance" of the Germans who infested the Near East during the last years of the war. Resentment at German military domination of Turkey during 1917 and 1918 will not soon disappear.[1]
Furthermore, Germany possesses neither the disposition nor the power to regain her former preëminence in the Near East. The confiscation by the Treaty of Versailles of private property in foreign investments has set a precedent which will make German investors—as well as prudent investors everywhere—extremely chary of utilizing their funds for the promotion of such enterprises as the Bagdad Railway. The surplus production and surplus capital of Germany may be absorbed by reparations payments or attracted to such enterprises as
