New-York tribune., 1922-03-23
Violent German Reaction Forecast
Special Cable to The Tribune

Violent German Reaction Forecast
Special Cable to The Tribune
Copyright, 1872 New York Tribune Inc.)
PARIS, March 2g.-The courier "a
"hom the decision Of the Reparation
Commission to grant moratorium for
1922 was handed Tuesday night should
"rrive in Berlin tomorrow, and. al
though it is expected to stir up violent
press reactions throughout Germany, it
= copslde1cd here step in the right
direction after years of bad expert
ments.
The entire decision of the commits
sion was made public to-day. Mean
while, in additio on TO the details cablcd
u The Tribune yesterday. the CORE
spondent learns that Germany, if She
accepts the conditions, Will be released
from the provisional obligation decided
on at Cannes to pay almost million
dal'ars dai y, and will begin the new
regime on April Is, paying S4,bo0,Joo
then. md paving thereafter s12,5O0, 900
monthly until November, when she will
ca ed upon to pay $4,000 900 for
that month and December.
Payments other than in cash but
IN the form Of goods must be made in
/ accordance with the Allied agreements.
They amount to 1892 500 900. Payments
| in cash and goods since January ! are
figured in the 1922 calculations.
Penalties for Failure
In the event of failure by Germany
to live up TO the new schedule and
bow to the strict control imposed bv
the commission her obligations will
revert to the original schedule of $500,
/ 900 600 annually. plus &c per cent of
her exports. Germany must begin a
reduction Of her budgetary expenses
and take measures to argment her
revenue before the end of May. In ad-
d.ticn to the imposition Of internal
taxes Germany must float external
loans, and if they arc not realized bv
the date fixed by the commission spe-
cial measures will be taken to obtain
| the deficit from German capital. This
possibly would mean the mortgaging
OF industries and mines. Germany is
also obligated to make g tax lew In
1922 Of 10000, 100000 paper marks, sew
enty Of which are counted IS one gold
mark.
The German government is also re
CURED to give the Allies access to all
accounts and customs statistics such
as were kept before The war.
me French press praises The work
H.
menting Tat "the work promises to
render Germany solvent in the com
mon interest OF the Allied creditors
and the German people"
Details Of the Plan
PARIS, March 20 (By The Associ-
eted Press).-A partial moratorium has
been given Germany for her reparaSion
payments ir. 1922, according TO a de-
i q ,y {bc
made public here to-day.
The plan carries with It :: specific
obligation on the part OF Germany 20
! raise 6O.0O0,000 600 marks, paper, in xd-
ditional taxes; to float an internal loan
to balance her budget, to stop the ex-
p5rtation Of capital and make the
leichsbank indepe ndent, radically to
reduce expenses, so submit TO a sys-
TEN of supervision through obligatory
consultations with commission or,
guarantees and either to float an inter.
national loan or TO make levy or
capital to raise a substantial sum FOR
Teparatious.
The moratorium is conditional upon
the fulflmert Of the conditions Of the
commission by May 81, which may be
revoked later if Germany does not con-
tinue to comply with them. The c,,nl-
mission calls FOR The execution OF the
} c"A4AiNS uS ANS'ISAC, p " ANAI4S 1OT C!lc
payment Of 720,000,000 gold marks and
OF 1,450 100000 marks in goods during
1922. AS Germany has paid about 2g2,~
/ 100000 gold marks in Zen payments,
/ there remains q balance Of A3S 100000
marks due.
{ Monthly Payments Demanded
The balance is payable $4,000 0oo
marks on April Is, 5o,o0o.ooo msrks
i n onthly from May to October Is in
I elusive, and 60,000.000 marks each No
+ ve1nber and December IS.
/ The goods reparations are PAYABLE
950.000,000 marks to France and 800
00c, 900 10 the other Allies as fal as
they place orders. The British will
/ receive 26 per cent Of the import tax
OF German goods and other similar
! funds credited against the merchandise
account. but if Germany falls to de-
/ liver The goods ordered she must pay
J the balance in cash.
The commission takes up the Ger
man Chancellor's proposed reforms al
/ the start, and insists they are far from
adequate 1t remarks that the budget
receipts exceed the 83 3,000, 100000 papet
/ marks expenses by 16,5o0, 100000
! marks, which was partially necessary
| to balance other deficits, SO that there
/ is q total deficit IN the reparations
/ budget of 1873 ,20O 900 900 marks, which
| the present moratorium reduces by
| $4,000 900, 900 marks, but that this is
/ based on fortyhve paper marks to the
gold mark, while the actual exchange
IS seventy to one.
Loan Must Wipe Out Deficit
The commission holds that the Ge--
man budget, including reparatlons pay
ments. should be balanced as far as
! possible through taxation, but that an
| internal loan or levy on capital must
wir 1t any deficit
The text of the decision is divided
into six parts: Budget, loans or levy,
expectation, capital of the Reichsbank,
compilation Of statistics and the sna'
paragraph obligating Germany 20 &C