The Story of the Great War, Volume 8: Victory with the Allies; Armistice; Peace Congress; Canada's War Organizations and vast War Industries; Canadian Battles Overseas
History
The Story of the Great War, Volume 8: Victory with the Allies; Armistice; Peace Congress; Canada's War Organizations and vast War Industries; Canadian Battles Overseas
World War, 1914-1918
Germany further binds herself to pay all sums borrowed by Belgium from
her allies as a result of Germany's violation of the treaty of 1839,
up to November 11, 1918, and will at once issue and hand over to the
Reparations Commission 5 per cent gold bonds falling due in 1926.
Germany is required to make compensation for all damages caused to
civilians, such as injury caused by acts of war, exposure at sea,
maltreatment of prisoners; damages to the Allied peoples represented
by pensions and separation allowances, to property; damages to
civilians forced to labor; damages in the form of fines or levies
imposed by the enemy.
The sums for reparation which Germany is required to pay shall become
a charge upon her revenues prior to that for the service or discharge
of any domestic loan.
In case of voluntary default by Germany the Allied and Associated
Powers shall take measures which Germany agrees not to regard as acts
of war, and may include economic and financial prohibition and
reprisals.
The Reparations Commission shall consist of one representative of the
United States, Great Britain, France, Italy, and Belgium, a
representative of Serbia or Japan taking the place of the Belgian
representative when the interests of either country are particularly
affected, with all other Allied Powers entitled, when their claims are
under consideration, to the right of representation without voting
power. The commission shall permit Germany to give evidence regarding
her capacity to pay and assure her opportunity to be heard. Permanent
headquarters will be established at Paris, which will become the
exclusive agency of the Allies for reparations. Majority vote will
prevail, except that unanimity is required on questions involving the
sovereignty of the Allies, the cancellation of all, or part of
Germany's indebtedness, the time and manner of selling, negotiating,
etc., bonds issued by Germany.
The commission may require Germany to give issues of bonds from time
to time to cover claims not otherwise satisfied. Bond issues are
required presently of Germany in acknowledgment of its debt as
follows: 20,000,000,000 marks gold payable not later than May 1, 1921,
without interest; 40,000,000,000 marks gold bonds bearing interest at
5 per cent under terms fixed by the commission. Interest on Germany's
debt will be 5 per cent., unless otherwise determined by the
commission. Payments not made in gold may be accepted in the form of
properties, commodities, businesses, rights, concessions, etc.
Public-domain text, read in full here on John Shaqi.
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