"But the memory of war weighs undiminished upon the people's minds. That is because deeper than material wounds, moral wounds are smarting, inflicted by the so- called peace treaties"

This quote by Hjalmar Schacht speaks with the enduring effect of war on an individuals. He suggests that the physical wounds of war may heal, but the moral injuries stay. These moral injuries are caused by the peace treaties that are meant to bring an end to the dispute. Schacht implies that these peace treaties are not constantly reasonable or just, and individuals are entrusted a sense of injustice and resentment. This sensation of injustice can remain long after the physical injuries have recovered, and can be a source of tension and discontent in a society. The memory of war can be a powerful force, and Schacht suggests that it is important to think about the moral ramifications of peace treaties in order to make sure that the people are not entrusted a sense of injustice.