The Caldwell tribune. [volume] (Caldwell, Idaho Territory [Idaho]) 1883-1928, 1924-05-09

ions among men entitled 10 be classed
as experts differ as 20 whether such
a payment is practicable. Ii is to
De borne in mind tina, as yet no
question OF exchange difficulties
arising from The conversion OF this
sum into foreign monies is involved.
bu, simply the collection OF this sum
within Germany for transfer and
/ the economic d-ain arising from its
transfer on, OF The country
On the whole we are disposed to
accep. he Judgment OF the Commit
tee. tina, the test OF the praciicabiliiy
OF the standard annual payments will
no. be 20 raise the sum of 2.SOOOOO0.
coo sold marks for that purpose. but
rather in getting these sums out OF
the country
Problem of International Payments
International payments. must be
made in gold or commodities. excep,
as they may be Professionally disposed
oi by the transfer OF securities. The
latter do not accomplish hnal pay
meni. The amount which Germany
actually can pay therefore is limited
TO the surplus OF Germanys exports.
with due regard Tor what are called
the invisible" items in international
relations.
" lille this essential truth may not
have been unknown to the statesmen
who have been dealing with the re-
partitions question over the list FIVE
years. the Dawes Commitie has
given it a frank recognition which
II never received before.
After reaching a conclusion as
above upon the amount that it was
practicable for Germany to raise on
repaFtions account, the Committee
turned lis attention to the task of
making the payments
/ hey decided that it was imprac-
ticable Tor them to limit the sums
10 be raised by any calculations in
volved in such uncertainty as calou-
la,ions upon the course OF the ex-
change would be- They conclude
TO cut the Gordian knot which had
perplexed all the economists. and
they did so by relieving Germany OF
the problem OF getting the payments
ont OF the country and putting that
responsibility on the creditors.
The reparaiions payments having
been deposited in the ank, which IS
10 be created under the plan. the
next problem is to distribute them.
and to accomplish this a Transfer
Committee is appointed, consisting
OF a Chairman and five members
who shall be persons qualified TO
deal with exchange problems. They
shall consist OF an American member.
a French member. an English mem
Der. an Italian member and Belgian
Each OF them shall be APP
pointed by the Reparation Commits
sion after the member OF The General
Board OF the bank OF the same ma
iionality has been consulted
This committee is charged with
getting the PREPARATION funds out OF
the country, as well as il can be
done without disrupting the ex-
changes, which would depreciaie the
new currency, upset the budget and
ruin the Plan.
Nobody knows whether an average
of 2.5O0,0O0OOO gold marks can be
or not; hence the annual
payments are not positively deter
mined. This conclusion was unavoid-
able, unless the Dawes Committee
Vas willing to act beyond being rea-
'onably certain OF its ground or re-
luce the fixed sum below that which
t believed Germany was able to
-aise.
Deliveries in Kind
A feature OF the plan which would
eem TO have in it possibilities which
.annot be clearly foreseen is that OF
for deliveries in kind" or
n other words. payments in COM
Ii credits accumulate in
he Bank. aud trade conditions are
UGH that exchange on Berlin cannot
,e sold aboard within the limitations
II the Plan. there will be an induce
nent for the creditor countries 10
axe German commodities. The
method OF so doing would be by
goods OF German firms and
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