HKB
after the expiration of which no new deferment of debit should be permitted and the liquidation of the existing deferred debits should commence to be made by regular annual instalments.
The precise length of this period should be determined upon an estimate of the time necessary to carry out the main work of reconstruction, regard being had to the time required by Germany to effect the necessary supplies. In view of the delays which are inevitable in regard to operations of the magnitude of those contemplated, the prescribed period might be reasonably somewhat longer than the four and a half years’ initial period under the agreement, but it should not exceed seven years.
(2) That in no circumstances should the aggregate amount for which debit against France for the time being stands deferred be allowed to exceed a prescribed amount, say, 4 milliard gold marks.
(3) That a provision should be inserted for the payment by France to the general reparation account from time to time (within the limits of the deferred debits for the time being outstanding) of any amounts which may be necessary to secure that the other Allies shall receive their proper proportions of the amounts due from Germany under the Schedule of Payments.
Subject to the introduction of these safeguards, to which it would not appear that legitimate exception could be taken, the arrangements contemplated by the agreement may be expected to accelerate the solution of the Reparation problem on practical lines in a manner advantageous to France without prejudicing the interests of other Powers, and it is upon this ground that the Reparation Commission has unanimously recommended them for favourable examination by the Allied Governments.
If the Allied Governments approve the general scheme, subject to whatever safeguards they may decide to be necessary, there will remain certain subsidiary points for the Reparation Commission to consider—amongst other:—
(1) The proposed omission of the excess deliveries from the index figure determining the annual liability under the Schedule of Payments, until such time as these deliveries are finally brought to account for reparation purposes.
(2) The special arrangements for substitution in respect of articles of which France is entitled to restitution by identity, involving in certain cases money payments; and
(3) The special arrangements in regard to the delivery of coal and the prices to be credited and debited, which in several particulars affect the interest of other Powers.
IX. TABLES OF INTER–GOVERNMENTAL INDEBTEDNESS
(A) Advances by the United States Government to other Governments (as in July 1921)
───────────────┬─────────────────┬───────────────┬──────────────┐ │ Credits granted │ │ │ │ under Liberty │ Surplus War │ Food Relief. │ │ Loan Acts.[117] │Materials Sale.│ │ │ │ │ │ ───────────────┼─────────────────┼───────────────┼──────────────┤ Armenia │ │ │ $8,028,412.15│ Austria │ │ │ │ Belgium │ $347,691,566.23│ $27,588,581.14│ │ Cuba │ 9,025,500.00│ │ │ Czecho–Slovakia│ 61,256,206.74│ 20,621,994.54│ 6,428,089.19│ Esthonia │ │ 12,213,377.88│ 1,785,767.72│ Finland │ │ │ 8,281,926.17│ France │ 2,950,762,938.19│ 400,000,000.00│ │ Great Britain │ 4,166,318,358.44│ │ │ Greece │ 15,000,000.00│ │ │ Hungary │ │ │ │ Italy │ 1,648,034,050.90│ │ │ Latvia │ │ 2,521,869.32│ 2,610,417.82│ Liberia │ 26,000.00│ │ │ Lithuania │ │ 4,159,491.96│ 822,136.07│ Poland │ │ 59,636,320.25│ 51,671,749.36│ Rumania │ 23,205,819.52│ 12,922,675.42│ │ Russia │ 187,729,750.00│ 406,082.30│ 4,465,465.07│ Serbia │ 26,175,139.22│ 24,978,020.99│ │ ├─────────────────┼───────────────┼──────────────┤ Totals │$9,435,225,329.24│$565,048,413.80│$84,093,963.55│ ───────────────┴─────────────────┴───────────────┴──────────────┘