The Bismarck tribune. [volume] (Bismarck, N.D.) 1916-current, 1923-06-07
PAYMENTL0WER
THAN FIXED BY
PEACE TREATY
Offers Her National Railways
As Security for Annual
Payments
WILLING, SHE CLAIMS
Avoids Ruhr Occupation and
Other Points on Which
Answer was Asked

Berlin, June 7.-Germany's amend
atory reparations note, which wa
handed to the entente and the Unitcd
States government this afternoon
proposes a system of annuities est
mated to total 1,229. 100000 marks al
nually if an international loan is net
available for immediate capital pay
ments.
The annuities would become effer
tive in 1927, and their number am
amount would depend wholly on the
degree of Germany's economic re
covery. The memoranda declares az
inevitable requisite to practical SO
luton of the reparations problem is
the early convocation of genera.
conference 20 which Germany woula
be admitted on an equal basis.
The document is brief and who'll
devoid of elucidation of the mootcd
points on which the creditor nation
had requested amplifying statement
II makes no mention of the politicai
situation. the Ruhr occupation or I'll
question of abandoning the passive
resistance and INDUCES in no recrin
nations.
Neither does it refer to the cor
ditions under which Germany is pre-
pared to carry out the payment of thr
annuitics.
Reaifirms Willingness.
The memorandum reaffirms Ger
many's good will and Willingness f.
meet her reparations obligations and
asserts the conviction that the en-
tire problem should be submitted a.
an impartial inquiry. the verdict Of
which, it declares, would be accepted
by the German government
AS guarantees for the annuitic
the German government pledges the
federal railway system which wou
be capitalized at ten million mark !.
yielding an annual bonded intere &
of 500,OO0,0OO marks.
A further ten billion marks would
be guaranteed by gold s per cept
security for which wauiG
be furnished in physical holdings NJ
industry, agriculture and shippinr
and the gold obligation assumed l.
banking and commercial interests ard
private real estate. This levy, it is
estimated, would also yield 100000,
900 gold marks. The additional 200
100000 of the annuity total woulo
be raised by increased customs duties
on articles Of luxury and the crea
tion of a government monopoly in to
bacco and spirits.
The reparations commission orig
inally decided that Germany, under
the provision of the Versailles peace
treaty, should be assessed damages
for her aggression in the sum Of 132,-
OOO,OOO,0O0 gold marks.
Amount Too Great.
Germany always has asserted thal
this amount was far beyond her abil
ity to pay. In counter-proposals ST
has offered various sums, all Of the
far below the total asked in the org
inal demands. In addition she has
hedged about her rendered stipu a
tions which the allies, and particular-
ly France, have refused point-blsch
to consider. insufficient guaranteus
that Germany would make good her
promises always have been poin,cd
out by France for that country de
clined to give full consideration to
her offers.
Germany's first official offer was
10000, 100000 gold marks, payable q
the rate of 24O,OOO,OOO annually fct
five years with a new arrangement of
to be worked out after
that period. The offer was condition
al on Upper Silesia being awarded to
Germany and the restoration Of Ger
manys commercial privilege $
throughout the world. Her second
tender was almost Identical with The
first as regards the amount. which
in American money is $500, 100000
She also agreed to pay the equivalent
of IL per cent tax on exports.
In April, 1921, came an offer of So
ooo,Voo,"oo eoiU iHdAhS, oHc Ui!iph
of which was to be paid Immediately
and the remainder to be liquidated
in annuities running over long
period of time, ultimately bringing
the total with accrued interest up to
200 billion marks.
Then in January, 1923, came the
meeting of the allied prime minis
ters in Paris at which the repara-
tions differences between this Of
ficials became more accumulated. The
British and French we're agreed or
a reparatiohs figure of SO billion gold
marks and as on thS question of COM
prehensive financial control. They
were in direct opposition on the ques
tion Of penalties. France desiring to
seize guarantees along the Rhine and
in the Ruhr while rGeat Britain did
not desire any further occupation of
German territory except in the case
Of some future default by Germany.
A few days later the French ac-
by the Belgians and some
Italian forces entered the Ruhr. The
last offer by Germany was for total
/. s ~. -