The Bismarck tribune. [volume] (Bismarck, N.D.) 1916-current, 1924-04-08
DAWES PLAN TO
MAKEGERMANY
PAY REVEALED
No Moratorium for Germany
Is Provided in Plan of
Committee of Experts
MORTGAGE RAILWAYS
Provision Made for Control
BY Allies if Germany De-
faults in Payments

Brigadier- General Charles Dawes
and his fellow reparations experts
seem to have attained the objects at
which they aimed, declares LIE Matin
, in presenting a summary of the COM
mittee's forthcoming report which is
accepted here as authoritative.
They achieved this, the newspaper
added, without casting beyond the
limits set for them-that is without
reaching the political problems in
the occupation Of the Ruhr or trying
to fix definitely about the German
debt, since, if the Dawes report gives
exact details on the amount of the
yearly payments which may be ex-
acted from the Reich it in no way
at least as regards the part which de-
.pends on the budget surplus of the
Reich"
The report provides, according to
lie Matin, that Germany shall receive
no moratorium; temporary con-
cession will be made of her railroads,
mortgage placed on her industry
and bureau established to govern
the transfer of money from the coun-
, try in such a manner as to disturb
: the exchange market as little as pos
sible. Her annual payments would
be tapered upward to keep pace with
her economic recovery and financial
ability.
Would Control Reich
If financial disorder prevents or
delays execution of Germanys finan-
rial engagements the experts provide
installation of strict control by the
lilies which would be invested with
reat powers over the treasury of
he Reich.
In connection with the Ruhr the
S"xperts consider economic rcestab-
.! shment of Germany can be durable
My on one condition.; the economic
nifty of the country must be entire
y reestablished.
Without raising the question OF
military occupation of the Ruhr the
xpcrts indicate that it will be neces-
ary for Germany to resume free dis
osal of customs and state industries
Il the territory occupied by French
roops. The railroad system of the
:.uhr and Rhineland would be under
pecial supervision Of an allied rep.
.esentative in order to insure nor.
nal traffic and security for French
troops.
: Under the proposed reduction ar
rual payments, Germany would apply
on the reparations account the first
me billion gold marks raised b!
means of an international loan OF
500 million gold marks, plus 200 mil
ion from the transportation tax.
The second and third years sh'
would pay one billion two hund' et
r ,,illion gold marks; the fourth veal
: one billion seven hundred and fifty
lillion and the third two billion foul
hundred and sixty million and so on
from the sixth year the reparation'
commission would exact supplemon n
:-ry payments in addition to th'
foregoing Of two billion four hun
,red and sixty million gold mark!
dependent upon prosperity inGe'
carefully established by the Dawes
committee.
Would Reach High Mark
-, The supplementary payment unde
his index would gradually reach sew
eral hundred million gold marks.
The supplementary total 2,460,OOO,
900 marks would be thus obtained
from budget receipts 1,500,O0O,0O
marks, from transportation tax AM
railroad marks 66O,OOO,0OO; from
mortgage on industries 300,OO0,OO0.
The railroads of the Reich woul'
be transferred for fifty years to |
company with 26 billion gold mark
capital, composed of two billion il
(preferred stock, one-quarter of whicl
would be sold for the benefit Of tn
government, 13 billion in ordinar
stock with dividends depending OF
the country's prosperity and II bill
lion in privilege bonds at 6 percent
five percent to go into sinking
fund.-, insuring repayment 81 year
after the fourth year.
The bonds, to be haDded to the re
parations commission, would yiel'
j&6O,OOO,0OO gold marks annually afte
the fourth year. The commissio
would be allowed to offer its bond
on the international market and thu
rapidly realize some 10 billion gol
marks.