The daily banner., 1919-04-15
GERMANY TO PAY
5 BILLIONS Cash
First Payment in Two Years in
Cash or Commodities.
ALSO 20 BILLIONS IN BONDS
The Allied Delegates May Summon
Enemy ENJOYS to Versailles by
With Orlando.

Paris, April 15.-Germany, under the
peace treaty, must pay $5,O00,0000o0
i'll cash or the equivalent in commodi-
ties before May /. 1921.
She must also issue Immediately to
the allied and associated governments
$20,0O0,O00,OOO of Understanding
bonds.
The interest on the bonds until 1926
will be either two or three per cent,
and after that date will be five per
cent, according to the present plan.
The bonds will be payable in install
merits during a period of fifteen years.
They probably will he kept in the con-
troll of ii central commission Of the
allied and associated governments SO
tiiat they shall not be marketed in
quantities sufficient to break the price.
The exact amount of the bond issue
will be determined later according to
the kind of money in which it must he
paid. If the money is marks, the sum
will be larger than $20,090,O0O, at
the rate of exchange before the war,
but that is the general nominal sum.
These two sums-S5 900 O0).O00 cash
"nd S2o.u00,O0O,O00 in bond>--are NOT
al that Germany will have to pay.
They are the minimum.
Germany also must Ohligate herself
20 pay other amounts for damage
done. appropriate to her means, to be
determined by Il mixed commission of
rA1 ntnt of tho allioI
Snriated governments and of Germany
which shall report before May l, 1921.
In 4 statement, which is about to
be issued by President Wilson, The an
nounccment will be made that the Ger
u!aH peace delegates will be called to
Versailles April 25.
One hundred billion gold marks
(S.,,3 0,OO0O0W is The amount Ger
many must pay the allied and aSSOci-
| n '"d governments for losses and dam
l"e caused in the war plus other bill
| ions TO be determined by a special
! commission on which Germany is to
| be represented
| SiGnor Orlando recently suggested
to the president the advisability of iE-
| formal exchange over the question Of
| Fiume and Italy's claims in the east
ern Adriatic President Wilson prom
iSed TO give the question his personal
study. The conference probably was
the outcome of this suggestion.
| The peace treaty and the league Of
nations have undoubtedly reached the
final Stage of negotiations. but it is
Ic'. yet clear they are out of troubled
waters
Both must still pass the ordeal Of
plenary session of the peace confer
ence and then go before the Versailles
congress, where enemy powers will be
represented.
Indications are that Il combination
of both documents will be written into
preliminary peace treaty within the
coming two weeks
The date when the enemy delegates
shall be summoned TO Versailles has
been tentatively set. The Summoning
of the peace congress- as it will be
called, instead of peace conference"
after the enemy delegates are admit
ted. will, according to the present I'M
derstanding, occur between April 26
and May 5.
The Petit Parisien says it indicates
the leaders have come to an under
standing regarding the date when the
German delegates shall be called in.
That date. it declares. is very close at
aand-before April 20.