Evening star., 1923-06-07
NEW GERMAN NOTE
HANDED TO ALLIES,
PLEDGES ANNU|T|ES
Offers Railroads and Indus.
trial Mortgage as Guaran-
tee for Payments.
NEGLECTS- TO MENTION
RUHR RESISTANCE ISSUE
Estimates i, 200, ,ooo, 900 Marks Can
Be Obtained Yearly by
Latest Proposal.
BY the Associated Press.

BY the Associated Press.
BERLIN, June 7.-Germany's amend
atory reparations note. which was
handed to the entente and United States
governments this afternoon. proposes a
system of annuities estimated to total
1,200.000.0 900 marks annually if an in
ternational loan is not available for i'm
mediate capital payments.
The annuities would become effective
in 1927 and their number and amount
would depend wholly on the degree of
Germany's economic recovery. The
memorandum declares an inevitable re-
quisite to a practical solution of the
reparation- problem, is the early convo-
cation of a general conference to which
Germany would be admitted on an equal
basis.
Document Is Brief.
The document is brief and wholly de-
voted to elucidation of the mooted
points on which the creditor nations had
requested amplifying statements. 1t
makes no mention of the political sit
uation. the Ruhr occupation or the oues-
ton of abandoning the passive resist
ance and INDUCES in no recriminations,
under which Germany Is prepared to
carry out the payment OF the annulties
The. memorandum reafrlrms Ger
meet her rep reparattons % ob1Isaeions a9oss and a9d
asserts the conviction that the entire
problem should be submitted to AN
impartial inquiry, the verdict of
which. II declares, would be accepted
by the German government.
Railroad System Pledged.
AS guarantee for the annu5ties
the German government pledges the
federal railway system. which would
be capitalized at 10000. 600. 900 M arks
yielding an annual bonded iuteresi
of 500, ,000, 900 marks.
A further 100000. 900 marks would
be guaranteed by gold Yer cent
be. furnished in physical holdings OF
Industry, agriculture and tshipping
and the gold obligations asi umed by
banking and commercial I interests
saa rs aosia sEiass Also ss sso
100000 gold marks. The{ additional
2oo.eoo.o6o. of the annuity total would
be raised by Increased cuf toms duties
on articles OF luxury ad d the crea.
ton Of a goyernment monopoly in
Text of the Jote.
The text of the note }says:
After full and caYeful considera-
tion Germany has sy,ted her sincere
belief as to her capaS ity to make pay
ment for reparati9n. The German
government would |not be acting fair
ly and it would .ot bring the real
solution any neaye if. for the sake
of temporary all3vation of its politi-
cal difficulties, fit were to promis sc
more than in IFS judgment the Ger
man people cam. with the utmost ef-
fort, perform. nevertheless, the ques-
tion of Germa{,y's capacity is one OF
fact no whfyh different opinions
ment admits. fhe difficulty of arriv
ing at any .fecure estimate in the
presept conditions. For this reason
1t has alrea ely offered to accept the
ai'body as u the amount and method
of payment, Germany can give no
stronger }p foof than this of her de-
termination to discharge repara-
tionS."
VIII Throw Open Records.
The German government also is
ready TO supply all available infor-
nation necessary in forming re-
liable Judgment on Germany's capac-
ity ,toJ pay. 1t will. if 1t Is wished
thro1s open to inspection all it's finan-
cia1 records and. furnish any details
thEti may be desired concerning the
re- burces of German industry and
Brisiness.
1.-The German government has made
! sference to the flotation of big loans
sh order that large capital sums
might accrue at the earliest possible
moment to those powers to which
jreparatfon is due. Should loans on
a great scale prove impracticable for
a time, it Is ready to substitute a
scheme of annuities."
Since the allied governments have
attached importance to Germany S
furnishing forthwith precise indica-
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