The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1924-04-09

PARIS, April "a unanimous
agreement has been reached upon
the details of the worlds most for.
midable financial problem-setting
bankrupt Germany upon her feet-a
1t was revealed today by a cover
ing letter sent to the Inter-Allied
Preparations Commission along with
the report of the international COM
mittee of experts of which Charles
Gates Dawes, of Chicago. is chair.
man.
All the suggestions and recon-
mendations are based upon hard.
headed business principles, justice
and mutual interest. Germany
must pay taxes to the limit of her
capacity. A loan is proposed for
the German government.
Flexible adjustments are recon-
mended to produce a maximum of
contribution toward meeting Ger
many's obligations. Precautions
are suggested to insure the perma-
hence of the new economic peace
between the allied governments and
Germany.
Warning To Germany.
Great care has been taken in fix.
ing the conditions of the supervi.
sion of Germany's internal organi-
zation to impose a minimum OF in.
reference.
Germany is warned that rejection
of proposals will mean a continu.
ance of economic generalization.
General Dawes said the inquiry
into Germany's financial condition
has been most exhaustive, testi-
mony being taken from German
labor leaders, agriculturists, and
industrialists. The German gov
eminent turned over voluminous
reports.
The full committee held forty
eight meetings from the time it
began work January IA.
The covering letter follows:
"The President of the Repara-
lions Commissions:
''Sir: Your committee has unani
mously adopted report upon the
means of balancing the Germa n
budget and the measures to be
taken to stabilize its currency
which l now have the honor to
submit.
Suggestions for Recovery.
Deeply impressed by "a sense OF
it's responsibility to your commits.
sion and to the universal con.
science, the committee bases it's
plan upon those principles of jus.
tice, fairness and mutual interest
in the supremacy Of which not only
the creditors Of Germany and Ger,
many itself, but the world also have
vital and enduring concern.
with these principles fixed and
accepted in that common good faith
which is the foundation Of all bust
ness and the best safeguard for uni
versal peace, the committees recon-
mendationS must be considered not
as inflicting penalties bat as sug
costing means for assisting tht
economic recovery of all European
peoples and the entry upon a new
period of happiness and prosperity
.. unmenaced by war.
Since, as a result of the war the
creditors of Germany are paying
taxes to the limit of their capacity
This is in accord with the just and
| underlying principle of the treaty
| OF Versailles, reaffirmed by Ger
many in its note of May 90, 1919
| that the German scheme Of taxation
must be fully as heavy proportion
ately as that of any of the powers
represented on the commission
More than this limit could not be
expected and less than this would
relieve Germany from the common
hardship and give her an unfair ad
| vantage in the industrial competi
ton Of the future. The plan of the
| committee embodies this principle
Flexible Adjustments.
The plan has been made to in
clude flexible adjustments which
from the very beginning tend to
produce a maximum of contribu.
tions consistent with the continued
and increasing productivity of Ger.
many; the conservative estimates
| of payments to be made in the
near future are dictated by bust
ness prudence in outlining the
basis of loan and should not de-
stroy the perspective as to the eff
fects to be registered in the aggre.
gate of eventual payments which
will annually increase.
with normal economic condi.
tons and with productivity re-
stored in Germany the most hope