Americus times-recorder. [volume] (Americus, Ga.) 1891-current, 1921-12-15
BERLIN UNABLE
TO MEET FULLY
NEXT PAYMENTS
Allied Reparations Commission
Informed Of Failure In
Advance

ments due January Id and FEBRUARY
[15, it was officially announced this
afternoon.
BERLIN, Dec. Is. - (By Assoc
ciated Press. The German govern
ment, it announced today, has in
formed the committee on guarantees
that it is impossible for Germany to
pay the sum due in reparations jan
uary Is and that she consequently
asks moraturium.
The decline in the vauel Of the Ger
man mark, normally worth 1888 cents
before the war, to fraction Of a.
cent and, perhaps, "the vanishing
point" greatly complexities the finan~
cial outlook Of every nation in the
world.
The "tobogganingb of the mark
has been attributed by German flnan-
ciers to the forced payments on the
Allied reparations Of $33, 100000
900, while others see in their almost
negligible value the result Of un-
sound finance, cut-throat export sales
and the rush of the German masses
to the stores to exchange their almost
worthless currency for any and every
kin dof commodity. German print
ing presses have been so busy putting
out paper marks (10,915,500,000
were issued in one recent month";
that some of the currency has appear
ed engraved on only one side.
1t has be nsaid that Germany does
not possess one-half of one per cent
of the gold required to meet her tons
and tons of paper obligations. Repre-
sentatives of the government of
France, as an indication of this, re-
Gently arranged terms with Germany
at a conference in Weisbaden by
which Germany has agreed to deliv-
er seven billion gold marks worth
Of building material. German bank
ers have repeatedly urged the neces-
sity for international conference
and the declaration Of three-year
moratorium to enable Germany to re-
cover her equilibrium.
Many allies economists, however,
maintain that the depreciation of the
mark has been artificially brought
about by the machination and trick
cry Of German financiers. They
point out that Germany is much more
prosperous in comparison with other
European countries and that, willis
there is great contrast between the
extremes of wealth and povery in
Germany, spectators are making mill
lions and nearly everyone is at work
even if at low wages.
The Subcommittee, known as the
Guarantees Commission of the Rep
arations Conimission,s has gone to
Berlin to investigate whether Ger
man marks really have any value. In
event Of find them worthless, all for
eign trading with Germany conduct
ed on a paper currency basis, will
cease and the Ebert government may
face such a crisis as will necessitate
new action by the Allied powers.
Prior to the war, German marks In
New York were third in importance
in foreign exchange transactions.
the British pound sterling and tha
French franc being first and second,
respectively.
Since Germany agreed to the Al
lied reparations terms last May the
following dates and amounts were
fixed for payments;
June ii ,000, 100000 gold marks
to the Reparations COMMON.
July Delivery to the conaiais-
sion of bonds for 12,O000,0o0,o 900
gold marks.
July 15-First quarterly payment
of annual sum Of 2,000,000,000 gold
marks.
August 15.-First quarterly pay
ment of the 26 per cent Of the vaIus
of German exports.
October 15-Second quarterly
payment of annual sum of 1000, ,000,-
600 gold marks.
Nov. delivery to the Repara-
TORS Commission of bonds for a.
000,000,00O gold marks; also bonds
without coupons attached for S2,010.-
100000 gold marks.
Nov. 15-Second quarterly pay.
ment Of the 26 per cent of the value
of German exports.
The Guarantees Commission now III
Berlin is composed of M. Mauclere.
Of France, its chairman, and NJ. Benz
eimans, vice-chairman. Other mem
bers are Sir Hugh G. Lexick, Greaf
Britain; Signor Dameglio, Italy; M
Sekiba, Japan; M. Tiourtch, Jugo-
slayia; and Roland w. Boydon, Unit
ed States.
The duties of the commission are
described under eight heads as fol-
lows:
"FirstTo insure enforcement of
Antilles 241 and 244s gf the treaty 81