A Revision of the Treaty: Being a Sequel to The Economic Consequence of the PeaceKeynes, John Maynard
History
A Revision of the Treaty: Being a Sequel to The Economic Consequence of the Peace
Keynes, John Maynard
Treaty of Versailles (1919 June 28); World War, 1914-1918 -- Reparations
(_c_) The proceeds of such direct or indirect taxes or any other
funds as may be proposed by the German Government and accepted by the
Committee of Guarantees in addition to or in substitution for the funds
specified in (_a_) or (_b_) above.
The assigned funds shall be paid to accounts to be opened in the name
of the Committee and supervised by it, in gold or in foreign currency
approved by the Committee. The equivalent of the 25 per cent levy
referred to in Paragraph (_b_) shall be paid in German currency by the
German Government to the exporter.
The German Government shall notify to the Committee of Guarantees any
proposed action which may tend to diminish the proceeds of any of the
assigned funds, and shall, if the Committee demand it, substitute some
other approved funds.
The Committee of Guarantees shall be charged further with the duty
of conducting on behalf of the Commission the examination provided
for in Paragraph 12 (_b_) of Annex 2 to Part VIII. of the Treaty of
Versailles, and of verifying on behalf of the said Commission, and if
necessary of correcting, the amount declared by the German Government
as the value of German exports for the purpose of the calculation of
the sum payable in each year under Article 4 (2) and the amounts of
the funds assigned under this Article to the service of the bonds.
The Committee shall be entitled to take such measures as it may deem
necessary for the proper discharge of its duties.
The Committee of Guarantees is not authorised to interfere in German
administration.
8. Germany shall on demand, subject to the prior approval of the
Commission, provide such material and labour as any of the Allied
Powers may require towards the restoration of the devastated areas
of that Power, or to enable any Allied Power to proceed with the
restoration or development of its industrial or economic life. The
value of such material and labour shall be determined by a valuer
appointed by Germany and a valuer appointed by the Power concerned,
and, in default of agreement, by a referee nominated by the Commission.
This provision as to valuation does not apply to deliveries under
Annexes III., IV., V., and VI. to Part VIII. of the Treaty.
9. Germany shall take every necessary measure of legislative and
administrative action to facilitate the operation of the German
Reparation (Recovery) Act, 1921, in force in the United Kingdom, and
of any similar legislation enacted by any Allied Power, so long as
such legislation remains in force. Payments effected by the operation
of such legislation shall be credited to Germany on account of the
payment to be made by her under Article 4 (2). The equivalent in German
currency shall be paid by the German Government to the exporter.
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