Evening star., 1921-04-26
GERMANS OFFER TO
TAKE ALLIED DEBT
''WiIIing to Assume 0bliga-
ton to U. S. to Extent
of Capacity"
SECURITIES ARE PROVIDED
Note Proposes to Place $50, ,000, 900
Marks in Gold, Silver and
Exchange With Allies.
SECURITIES ARE PROVIDED
By the Associated Press.

By the Associated Press.
BERLIN, April 2e-Germany, 'in the
event the United States and the allies
SO desire, is willing. according to the
extent of her ability and capacity, to
assume the allied obligations to the
United States" says a clause in her
counter proposals. forwarded to Wash
ington. which were made public here
today.
With this exception the counter pro-
posals, including the offer Of zoo. .000.-
000, 900 gold marks. are virtually as fore
east In yesterdays Associated Press
dispatches.
Germany offers to pay 10000, ,oe0. 900
gold marks. the present value of which.
converted into annuities. totals zoo, ,000.-
100000 gold marks. The payments.
under this proposal, would be made ac-
cording to her ability.
Ready to Put Up Cash.
As evidence Of her good faith. says
the note. Germany is prepared imme-
diately to place at the disposal of the
|reparations commission $50, ,00o, 900 marks
in gold, silver and foreign exchange and
$50. .000, 900 gold marks in treasury notes.
redeemable within three months In for
The text Of the clause in the note
stating the amount Germany is ready
to pay reads as follows:
\ Germany declares herself ready to
Engage to pay for reparations aftotal
of $4,000, 100000 marks gold at their
present value. Germany is equally
ready to pay this amount in annuities
adapted to her productive capacity up
to a total Of 100000. 100000 marks
gold"
Suggests q Commission.
An arbitration proposal for deter
mining the total amount due is con-
tanned in the note. A clause says:
Germany suggests the appointment
Of an unbiased commission to fix the
total sum Of her war reparations,
which she pledges to accept as bind
ing and to carry out in good faith"
Germany. adds the note. would vel
come any suggestions from the Amer
lean government for further negotia-
tions or for changes in the present
proposals.
with the acceptance Of these pro-
posals. says the German note, Ger
many's other reparations and obliga-
tions will be annulled and all Germa an
private property in foreign countries
be released"
Germany's offer Of immediate pay
ment represents 1000. .0O0, 900 marks
gold, the note says, made up as fol-
lows:
First. One hundred and fifty mil
lion marks in gold, silver and bills
receivable.
Second. Eight hundred and fifty
million marks in bills Of exchange
upon the treasury. which would be
paid at the latest in three months in
bills receivable and in foreign secu-
rites"
Germany proposes in the note the
issue of an international loan. the
proceeds to be placed at the DISPOSE
tion of the allies. On this loan Ger
many would pay the interest at per
cent and provide for amortization.
The sum OF the reparations total not
covered by this international loan
would be provided, to the limit of
Germany's capacity. by payments in
goods. materials, etc.
Disposed to Let Allies Act.
Germany is disposed" says the
note. ito allow the allied powers to
participate in Germany's economic
and financial amelioration. Germany
will cooperate with all her efforts in
the reconstruction of the devastated
regions. so that she may acQuit her
remaining unpaid"
The value Of the German offer of
so. 900, 100000 marks. with payment
extended over period Of years. is
placed at 100000. 900. 900 marks by
computing the interest, compounded
annually. In the reverse process 1t
is computed that 100000. .000, 900
marks payable in annuities over q
similar period, would be worth 1t
the present time. with interest dis
counted. $4,000. 600 900 marks.
To check the German figures it OBJ
viousiy would be necessary to know
the amount of the annuities and the
rate of interest, and these are as yet
lacking.
AS security for the credits accorded
her. the proposals state, Germany Is
willing to pledge public revenues and
properties. in manner to be de-
termined between the contracting
narfieS