Norwich bulletin., 1919-05-08
\ in the form of leyies on fines impos- 1 ed by the enemy

in the form of leyies on fines impos- ed by the enemy.
 Estimating Germany's Capacity.
 'In periodically estimating Ger nlanys capacity to pay, the reparation commission shall examine the German system of taxation, first to the end that the sums for reparation which Germany is required to pay shall be- come a charge upon all her revenues, prior to that for the service or dis charge of any domestic loan and sec- ondly so as to satisfy itself that. in general, the German scheme of tax 7aticn is fully as heavy proportionate- ly as that of any of the powers rep resented on the commission"
 Penalty for Default
 ''The. measures which the allied and associared powers shall have the right to take, in case of voluntary de- fault (. by Germany, and which Ger many agrees not to regard as acts of war, may include economic and fin ancial prohibitions and reprisals and in general such other measures as the respective governments may de- i ternine to be necessary in the cir eumstances''
 Make Up of Commission.
 The commission shall consist of ons representative each of the United ! States, Great Britain, France, Italy and Belgium, and in certain cases of Japan and Serbia with all other allied powers entitled when their claims are under consideration to the right of representation without
 
 many to give evidence regarding he1 capacity to pay and shall assure he, 8 jUst opportunity to be heard. Ii shall make its headquarters at Paris; | establish its own procedure and per sonnel; have general control of the whole reparation problem; and be- come the exclusive agency of the all lies for receiving. holding, selling, ant distributing repara tion payment. Majority vote shall prevail excep that unanimity is required on ques. ! tions involving the Sovereignty of any of the allies, the cancellation of al ! or part Of Germany's obligations. tn, time and manner of selling, distribu ting, and negotiating bonds issued b! Germany, and postponement between 1921 and 1926 of annual payments be yond 1SS0 and any postponemen after 1926 for period of more thai f three years, the application of a diff I ferent method of measuring damag i than in a similar former case. an,
 the interpretation of provisions l Withdrawal from representation i 1 permitted on twelve months notice. 1 May Require Issue of Bonds. The commission may require Ger many to give from time to time. b way of guaranty, issues Of bonds o
 other obligations to cover such claim
 as are not otherwise satisfied. I l this connection and on account of tn total amount of claims bond issue I are presently to be required of Ger many in acknowledgment of it's det as follows: twenty billion marks golt payable not later than May frs
 1921, without interest; forty billio marks gold bearing two and ene-ha per cent. interest between 1921 an 1928 and thereafter five per cent with one per cent. sinking fund, pay
 ment beginning in 1926; and an UT
 dertaking to deliver forty billio marks gold bonds bearing interest { , five per cent. under terms to be fix |. led by the commission.
 T Interest on Debt Per Gent.
 Interest on Germany's debt will I ,, five per cent. unless otherwise dt termined by the commission in tf future, and payments that are n, made in gold may "be accepted |
 the commission in the form of prol critics, commodities, businesses, right concession etc." Certificates of bent icial interest representing 'eith, , bonds or goods delivered by German ! may be issued by the commission the interest power, no power bei1 entitled to have it's certificates q , vided into more than five pieces. 1 I bonds are distributed and pass fro !, the control of the commission,