OCR Text |
Show BILLIONS ARE TO BE PAID Germany to Turn Over Great Sums of Gold in Two Years. PARIS, April 14, In view or the fluctuations through which the negotiations nego-tiations have passed, an authoritative, statement was obtained today con cernlng the final terms of the settle-1 ment This sums up the condition a s follows: Germany is at the outset held gen-, erally responsible lor losses and damages dam-ages in accordance with President WU grin's fourteen points, and the allied response at the time the armistice wan concluded. To determine the extent of the payment under this responsibility responsibili-ty a commission Is set up to take res-timony. res-timony. BBBemhle data and arrange fail details of the payments from the! enemy and distribution among the u ' lied and associated powers. While the commission will administer adminis-ter the details of the payments, suf-, ficient is known to permit the determination de-termination that an initial pament will be required of twenty billion gold, marks, payable in two years without interest It has also been determined that forty billion gold marks shall be payable in bonds extendinr over n period of thirty years, beginning TOlM with a sinking fund beginning in Vj2. These forty billion marks draw :wo and one half per cent Interest CroMI 1921 to 1926 and five per cent interest alter 1926. In addition to the foregoing payments. pay-ments. Germany also will be required lo deliver additional bonds for forty billion marks when the commission dfl tefmines ihat this shall be done. Those thn-e payments of twenty, forty shdj lon billions bring the total to one hundred billion gold marks. Beyond this total, the commissi un is empowered to fix anything further that may be required to cover Germany's Ger-many's indebtedness. "In other words." concluded the em-inent em-inent American authority who iramed the terms and furnished the foregoing summary, "a commission is set up with power to collect from Germany ; to the utmost of her capacity to pay, within the limitation of her indebtedness. indebted-ness. " ! It is in the gold mark that all payments pay-ments are expressed In the final term.'-. This excludes depreciated paper marks !and fixes the standard oi payment in gold. The jrold mark is worth about same as thV English shilling ami I 'fore the war was quotfd at 83 2 ' American cents. The allotment of the 100 000.000.00') raaks among the allied and associate I powers has noi yet been finally de- cided but a tentative arrangement makes the allotment ot France abmt fifty-flte per cent o? the total; Great Britain's allotment between twenty and thirtv per cent and the allotment ul lh. I Hit rcl States between two and five per cent The text f 'he opening clause of the terms, whereby Germany is held ?en-erally ?en-erally responsible, reads substantially 'as follows "The allied and associated powers affirm and Germany admits responsi-bllitj responsi-bllitj lor all losses and damages of the allied and associated governments and their nationals frr.m the unjustifiable i warfare waged by the enemy powers against the allied and associated gov-' gov-' I ernmeni?." Then follows a provision for the commission on payments, and extend ' ed details of the operations of the commission |