SECTION 9.—FINANCE

Dominion, Volume 12, Issue 193, 10 May 1919, Page 7

SECTION 9.—FINANCE

Tlio Powers to-,which German territory is ceiled will assume a certain portion of the German pre-war debt; the amount to be fixed by the Reparation Commission on the basis of the. ratio between tlio revenues of the ceiled territory and Germany's total for three years preceding the war. In view, however, of the circumstances under which Alsace-Lorraine-was separated from France in 1871, when Germany refused to accept any part of the French public debt,. Prance will not .assume any part of Germany's pre-war debt, nor will Polaful share in certain German debts incurred for the oppression of Poland. The'vnlue.of German Government property in the ceded territory will, in general, be credited to Germany, on account of reparation, but no credit ivill be given for. any German Government property in Alsace-Lorraine. The Mandatory Powers will not assume any German debts, or give any credits for German Government property. Germany renounces all right of representation, on. or control of, State bank.*, commissions, or other similar international,' financial, and economic organisations.

Germany is required to pay the total cost of the Annies of Occupation from the date of the armistice, as long as they aro maintained in German territory, and this cost is to bo the first charge on her resources. The cost of reparation is the next charge, after malting such provision for payments for-imports as the Allies may deem to be necessary. Germany is to'deliver to the Allied Powers all sums deposited in Germany by Turkey' nnd Austria-Hungary ill connection with the financial support extended by her to them during the war, and to transfer to the Allies all claims against Austria-Hungary, Bulgaria, or Turkey in connection with agreements made during the war. Germany confirms the renunciation of the Treaties of Bucharest and Brest-Litovsk; On the request of the Commission, Germany will expropriate any fights or interests of her nationals in the public utilities 111 cedefl territories, or those administered by mandatories, and 011 Turkey, China, Kussiai Austria-Hungary, mid Bulgaria, and transfer them to the Reparation Commission, which will credit lief with their value. Germany guarantees to repay to' Brazil tlm fund arising from the sale of the San Paulo coffeo which she refused 1 to allow Brazil to withdraw from Germany.