和訳をお願いします。
Among the propositions formulated at the conference was the proposal that central banks make a partial return to the gold standard, which had been dropped to print money to pay for the war. Central banks wanted a return to a gold-based economy to ease international trade and facilitating economic stability, but they wanted a gold standard that "conserved" gold stocks, with the gold remaining in the vaults and day-to-day transactions being conducted with representative paper notes.
The partial return to the gold standard was done by permitting central banks to keep part of their reserves in currencies, which were themselves directly exchangeable for gold coins. However, citizens would not receive gold coins of the realm in exchange for their notes, unlike the prewar gold standard.
Citizens of European countries had to redeem their banknotes in large gold bars, unsuitable for day-to-day transactions. That largely achieved the goal of keeping the gold in the vaults. On 16 April 1922 on the sidelines of the Genoa Conference, the RSFSR and Germany signed the Treaty of Rapallo. Ratifications were exchanged in Berlin on 31 January 1923. The treaty did not include secret military provisions; however secret military cooperation soon followed. With the Treaty of Rapallo pulling Russia and Germany out of the main picture, the conference lapsed into stalemate. The major powers at first agreed on a contingency package of financial aid to Russia, but the Allies could not agree on the final plan and nothing was offered. The issue of German reparations went nowhere after Poincaré threatened to invade Germany on a unilateral basis if Berlin defaulted on its next round of payments. Lloyd George was increasingly undercut by heavy attacks from the London newspapers. Nevertheless, he offered a final series of linked proposals, which would reduce Germany's liabilities for reparations, increase the French share of payments, and float an international loan to finance German payments, with the money from the loan going directly to France. But nothing was approved. Germany was expelled, France and Belgium withdrew, and the final draft communiqué to Russia was signed only by Britain, Italy, Japan, Poland, Romania, Switzerland, and Sweden, leaving out the key world powers except for Britain itself. Russia in turn rejected this final document. The last decision was to set up another conference at The Hague to take up the same issues. British historian Kenneth O. Morgan concludes:
Genoa was a watershed in international diplomacy.... Never again would such a large, rambling assembly, on the lines of Paris in 1919, be convened, until San Francisco in 1945.... There was too little detailed preparation, too much generalized optimism, too many disparate issues muddled up with one another. In many ways, it was a parody of summit diplomacy at its worst.
