Baldwin at Number 11 Downing Street, and nearly every morning on my way through his house to the Treasury, I looked in upon him for a few minutes’ chat in the Cabinet Room. As I was one of his leading colleagues, I take my share of responsibility for all that happened. These five years were marked by very considerable recovery at home. This was a capable, sedate Government during a period in which marked improvement and recovery were gradually effected year by year. There was nothing sensational or controversial to boast about on the platforms, but measured by every test, economic and financial, the mass of the people were definitely better off, and the state of the nation and of the world was easier and more fertile by the end of our term than at its beginning. Here is a modest, but a solid claim.

It was in Europe that the distinction of the Administration was achieved.

* * * * *

Hindenburg now rose to power in Germany. At the end of February, 1925, Friedrich Ebert, leader of the pre-war German Social-Democrat Party, and first President of the German Republic after the defeat, died. A new President had to be chosen. AllGermans had long been brought up under paternal despotism, tempered by far-reaching customs of free speech and parliamentary opposition. Defeat had brought them on its scaly wings democratic forms and liberties in an extreme degree. But the nation was rent and bewildered by all it had gone through, and many parties and groups contended for precedence and office. Out of the turmoil emerged a strong desire to turn to old Field-Marshal von Hindenburg, who was dwelling in dignified retirement. Hindenburg was faithful to the exiled Emperor, and favoured a restoration of the imperial monarchy “on the English model.” This, of course, was much the most sensible though least fashionable thing to do. When he was besought to stand as a candidate for the Presidency under the Weimar Constitution, he was profoundly disturbed. “Leave me in peace,” he said again and again.

However, the pressure was continuous, and only Grand-Admiral von Tirpitz at last was found capable of persuading him to abandon both his scruples and his inclinations at the call of Duty, which he had always obeyed. Hindenburg’s opponents were Marx of the Catholic Centre and Thaelmann the Communist. On Sunday, April 26, all Germany voted. The result was unexpectedly close:

 

Hindenburg

14,655,766

Marx

13,751,615

Thaelmann

1,931,151

Hindenburg, who towered above his opponents by being illustrious, reluctant, and disinterested, was elected by less than a million majority, and with no absolute majority on the total poll. He rebuked his son Oskar for waking him at seven to tell him the news: “Why did you want to wake me up an hour earlier? It would still have been true at eight.” And with this he went to sleep again till his usual calling-time.

In France the election of Hindenburg was at first viewed as a renewal of the German challenge. In England there was an easier reaction. Always wishing as I did to see Germany recover her honour and self-respect, and to let war-bitterness die, I was not at all distressed by the news. “He is a very sensible old man,” said Lloyd George to me when we next met; and so indeed he proved as long as his faculties remained. Even some of his most bitter opponents were forced to admit, “Better a Zero than a Nero.” 2 However, he was seventy-seven, and his term of office was to be seven years. Few expected him to be returned again. He did his best to be impartial between the various parties, and certainly his tenure of the Presidency gave a sober strength and comfort to Germany without menace to her neighbours.

* * * * *

Meanwhile, in February, 1925, the German Government had addressed itself to M. Herriot, then French Premier. Their memorandum stated that Germany was willing to declare her acceptance of a pact by virtue of which the Powers interested in the Rhine, above all England, France, Italy, and Germany, would enter into a solemn obligation for a lengthy period towards the Government of the United States, as trustees, not to wage war against a contracting state. Furthermore, a pact expressly guaranteeing the existing territorial status on the Rhine would be acceptable to Germany. This was a remarkable event. The French Government undertook to consult their allies.