The Richmond palladium and sun-telegram., 1919-05-08


powers entitled, when their claims are |
under consideration. to the right of |
without voting powers. |
It shall permit Germany to give evi-
dence regarding her capacity to pay
and shall assure her a just opportu- |
nifty to be heard. 1t shall make its
headquarters at Paris; establish its
own procedure and personnel; have
general control Of the whole repara-
ton problem, and become the exclu-
sive agency of the allies for receiving,
holding, selling and disbursing repair
alton payments. Majority vote shall
prevail except that unanimity is re-
Quired on questions involving the SOW
ereignty of any OF the allies, the can
collation. Of all or part Of Germany's
obligations; the time and manner OF
selling. distributing and negotiating
bonds issued by Germany, and post
ponement between 1921 and 1926 of
annual payments beyond 1880, and any
postponement after 1926 for a period
Of three years; the application of q
different method Of measuring dam
age than in a similar former case, and
the Interpretation of provisions. With
drawal from representations is per-
AAASSCA OA IWClNC 4OMlu6 IlOllCG.
May Issue Bonds
The commission may require Ger
many to give from time to time, by
other obligations to cover such claims
as are not otherwise satisfied. In this
connection and on account of the total
amount Of claims, bond issues are
presently to be required Of Germany
in acknowledgment of It's debt as
follows: Twenty billion marks gold.
payable not later than May /, 1921,
without interest; forty billion marks
gold bearing 21s per cent interest be-
tween 1921 and 1926 and thereafter
per cent with a per cent sinking
fund, payment beginning in 1926 and
an undertaking to deliver forty billion
marks gold bonds bearing interest at
5 per cent, under terms to be fixed
by the commission.
Interest on Germany's debt will be
5 per cent unless otherwise determ-
ined by the commission in the future,
and payments that are not made in
gold may be accepted by the commits
sion in the form Of properties, commo-
dities, rights, concessions, etc. Ger.
tificates of beneficial interest, repre-
senting either bonds or goods deliver
ed by Germany may be issued by the
commission to the interested power no
power being entitled, however, to have
its certificates divided into more than
Ave pieces. AS bonds are distributed
and pass from the control of the COM
mission, an amount OF Germany's debt
equivalent to their par value Is to be
considered as liquidated.
Must Replace Shipping
Shipping-The German government
recognizes the right of the allies to
the replacement, ton for ton and class
Tor class, of all merchant ships aud
fishing boats lost or damaged owing
to the war, and agrees to cede to the
allies all German merchant ships oil
1.600 tons gross and upwards; one.
half OF her shipping between 1000 and
1000 tons gross, and one-quarter oil
her steam trawlers and other fishing
boats.
These ships are to be delivered with
in two months to the reparation com
niittee, together with documents OF
title evidencing the transfer Of the
| ships free from encumbrances.
| AS an additional part of reparation
| the German government further agrees
/ to build merchant ships for the &C
| count of the allies to an amount oil
not exceeding 100000 tons gross and
annually during the next five years
All ships used for inland navigation
taken by Germany from the allies art
to be restored within two months, tbs
amount of loss not covered by sucl
restitution to be made up by the ces
sion of the German river fleet up tx
20 per cent thereof.
In order to effect payment by de
liveries in kind, Germany is required
| for limited number of years, vary
!! ing in the case OF each, to deliver coal
coal tar products, dyestuff and chem
/ ical drugs in specific amounts to ths
Preparations commission. The com
mission may SO modify the condition;
of delivery, as not to interfere undul.
with Germany's industrial require
ments. The deliveries of coal ar
based largely upon the principle c
making good diminutions in the pro
duction of the allied countries resul.
ing from the war.
], Must Return Animals
/ Devastated Areas-Germany under
takes to devote her economic re
sources directly to the physical res
OIL TIE lutduCu dlCdS. II
reparation commission is authorize,
to require Germany to replace the def
troyed articles by the delivery OF an
mails, machinery. etc, existing in Gel
many, and to manufacture material
required for reconstruction purposes
all with due consideration for Gel
Imany's essential domestic require
ments.
4 Germany is to restore within 81
months the Koran Of the Caliph Otl
, man, formerly at Medina, to the Kin
of the Hedjaz. and the skull of th
Sultan Okwawa, formerly in Germa
East Africa to his Britannia majesty
government. The German goyernmen
is also to restore to the French go
; ernment certain papers taken by tn
German authorities in 1870. belongin
then to M. Reuhr, and to restore th
French flags taken during the war {
, 1870 and 1871.
|, Finance-Powers to which Germa
|. territory is ceded will assume a ce
tain portion of the German pre-wa
debt, the amount to be fixed by th
. reparations commission on the basi
: of the ratio between the revenue an
, of the ceded territory and Germany
total revenues for the three years pr
ceding the war. In view, however, (
the special circumstances under whfc