FINANCE

New Zealand Times, Volume XLIV, Issue 10276, 10 May 1919, Page 7

FINANCE

SECTION IX

, The Powers to which German territory is ceded 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 the revenues of the ceded? territory and Germany’s total revenues for three years preceding the wan' In view, however, of the special circumstances under which Alsace-Lor-raine was separated from Prance in 1871’ when Germany refused to accept any part of the French .-.Public Debt, France will not assume any part of Germany’s pre-war debt, nor will Poland* share in certain German debts incurred for the oppression of Poland. The value of German Government property in the, ceded territories will, in general, be credited to Germany,, on account- of reparation, but no credit will ber given for any German Government - property in Alsace-Lorraine. The Mandatory Powers will not assume any German debts, or give credits for German Government property, i Germany renounces all right- of representation on, or control of, State banks, commissions, or other similar international, financial, and economic organisation*. Germany is required to pay tne total cost of the.- Armies ,-of. Occupation from thq- date of the'Armistice, as long as they are maintained in German territory, and this cost is to bn the first charge on her resources. The cost of reparation is the next charge, after making such pijorision 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 Tux.kfSj jmd AluMria-Hungary in 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 BrestLitovsk On the Request of the Reparation Commission 'Germany will expropriate any rights ? or interests of her' nationals, in the.public Utilities in ced©d'terrHoi‘les, w l fhO!e adWinistered by_ mandatories,.’and on Turkey,” China,” - Russia. - Austria-Hungary, and Bulgaria, and transfer them to the Rcna ration Commission.’.which will credit her with their value. Germany guarantees to repay to Brazil the fund arising from the sale of the Sao Paulo coffee which the refused to allow Brazil to withdraw from Germany. . .