The sun., 1919-08-30

credit is given on the reparation ac-
count, save as to that part which may
be ultimately turned over to the Repara-
ton Commission.
zone point more and I shall be done
with this part of the treaty. 1t Is stipu-
lated that all investments wheresoever
affected with the cash assets of nationals
OF the high contracting parties, includ-
ing companies and associations In
which such nationals were interested, by
persons responsible for the administra-
ton of enemy properties or having con-
troll over such administration or by
order of such persons or of any author
ity whatsoever shall be annulled. That
Ia to say, either the treaty annuls or we
obligate ourselves to annul all invest
ments by our Allen Property Custodian
of enemy funds. The disposition of such
funds Is not clear.
"Thus we close out German interests
In all allied and associated countries.
But we also take other commercial
measures no less far reaching. The
treaty terminates all multilateral trea-
ties to which Germany Is part except
those specifically named in the instru-
ment and all bilateral treaties and con-
ventions between her and other Powers
save only those which the other Powers
notify their intention to revive. Thus
another presumed tenet OF international
law passes out with this treaty.
Moreover, under this treaty the al
lied and associated Powers acquire all
the treaty and conventional rights and
advantages enjoyed by Austria Hun
gary. Bulgaria or Turkey. and such
rights and advantages granted to and
| enjoyed by acknowledgement States or
their nationals since August /, 1914, SO
| long as such treaties, conventions or
agreements remain in force. Thus no
Power having with Germany a treaty
| which gave to Germany a favored posi-
tion, at the expense of the Power, will
revive such a treaty. and every Power
having a treaty which gives her an adj
vantage over Germany will revive that
| treaty. Furthermore, II Germany shall
undertake to make with any foreign
country any reciprocity treaty in re-
gard to the Importation. expectation or
| transit of any goods. then all favors, i'm
munities and privileges granted by IL
| shall simultaneously and Internationally
| and without request or compensation be
extended to all the allied and associated
States. The treaty thus efectually pre-
vents Germany from fostering her COM
merce by special trade agreements with
other countries.
| The tariff and customs provisions are
equally drastic. Notwithstanding the
| increased cost of production throughout
| the world, Germany may not, for the
| first six months after the coming into
force of this treaty, impose higher tar
| ifs than the most favorable duties ap-
piled to imports into Germany on July
| 81, 1914, and for a period of thirty
months thereafter the same rule shall
apply to all imports covered by desig
mated schedule which enjoyed rates con
ventionallzed by treaties. to which i'm
ports are added other named articles.
Furthermore, as to all duties charges
prohibitions and restrictions on both ex
ports and imports, the allied and asso
ciated Powers enjoy favored natior
treatment. 1 shall make no attempt ever
! to list the exceptional tariff privileges
granted to France TO Poland, to Luxem
bourg. to Morocco and to Egypt