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could so arrange that the annual payments to be made during the operation of the Dawes plan may be distributed throughout the course of each year, and they request the Reparation Commission and the Agent-General to consider what steps can be taken to secure this result, which is of particular importance during the second and third years of the plan.

With a view to accomplishing this result the Allied Governments, so far as they are concerned, authorise the Reparation Commission and the Agent-General for Reparation Payments, in co-operation with the trustees for railway bonds and industrial debentures, to take all action that may be necessary to arrange the due dates of the payments to be made on the railway and industrial bonds, so as to provide for a gradual and even flow of payments throughout each annuity year.

Furthermore, the Finance Ministers authorise the Reparation Commission to make arrangements, so far as may be practicable without prejudicing the requirements of other Powers, to enable the Portuguese Government to obtain, during the earlier months of the second year of the Dawes plan (within the limit of its share in the second annuity), the sums necessary to complete certain outstanding orders for deliveries in kind of special importance to it.

ARTICLE 26.

Interpretation and Arbitration.

This agreement shall be transmitted to the Reparation Commission, and the commission will be requested to give effect thereto and to adjust the payments during the remainder of the year to the 31st August, 1925, and during subsequent years, so that the total receipts of each Allied Power during each year shall not exceed its share under this agreement. The Reparation Commission shall have authority, by unanimous resolution, to interpret the provisions of the agreement, in so far as the Allied Powers are concerned. If any difference or dispute shall arise on the Reparation Commission or between the Allied Powers in respect of the interpretation of any provisions of this agreement or as to anything to be done hereunder whether by the Commission or otherwise, the same shall be referred to the arbitration of a single arbitrator, to be agreed unanimously by the members of the Reparation Commission, or, failing agreement, to be appointed by the President for the time being of the Permanent Court of International Justice.

Any difference or dispute that may arise with the United States of America regarding the interpretation of this agreement affecting American claims or the rights of the United States of America under this agreement shall be referred to an arbitrator to be agreed upon between the United States of America and the Reparation Commission, acting unanimously.

ARTICLE 27.

Reservation as to the Rights and Obligations of Germany. The provisions of the present arrangement concluded between the Powers interested in reparations do not prejudice any rights or

obligations of Germany under the treaties, conventions and arrangements at present in force.

The present agreement, done in English and French, in a single copy, will be deposited in the archives of the Government of the French Republic, which will supply certified copies thereof to each of the signatory Powers.

In the interpretation of this agreement, the English and French texts shall be both authentic.

Paris, January 14, 1925.

CLEMENTEL.

G. THEUNIS.

WINSTON S. CHURCHILL.
MYRON T. HERRICK.

FRANK B. KELLOGG.
JAMES A. LOGAN, JR.
ALBERTO DE' STEFANI.
K. ISHII.

L. M. DE SOUZA DANTAS.
EM. J. TSOUDEROS.

J. MROZOWSKI.

J. KARSNICKI.

ANTONIO DA FONSECA.
VINTILA BRATIANO.
N. TITULESCU.
STOYADINOVITCH.

STEFAN OSUSKY.

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Amounts to be allocated out of the Second Dawes Annuity for the Armies of Occupation in the Rhineland, the Inter-Allied Rhineland High Commission and the Inter-Allied Military Commission of Control in Germany

Paris, September 21, 1925

PRESENTED BY THE SECRETARY OF STATE FOR FOREIGN
AFFAIRS TO PARLIAMENT BY COMMAND OF HIS MAJESTY

LONDON:

PRINTED & PUBLISHED BY HIS MAJESTY'S STATIONERY OFFICE

To be purchased directly from H.M. STATIONERY OFFICE at the following addresses: Adastral House, Kingsway, London, W.C.2; 28, Abingdon Street, London, S.W.1; York Street, Manchester; 1, St. Andrew's Crescent, Cardiff;

or 120, George Street, Edinburgh;

or through any Bookseller

1925

Price 2d, Net.

Cmd.2558

Accord relatif aux Prélèvements sur la deuxième Annuité du Plan Dawes pour les Armées d'Occupation, la Haute-Commission interalliée dans les Territoires rhénans et la Commission militaire de Contrôle.

Paris, le 21 Septembre 1925.

LES Gouvernements de la Belgique, des États-Unis d'Amérique, de la France, de la Grande-Bretagne, de l'Italie, du Japon, du Brésil, de la Grèce, de la Pologne, du Portugal, de la Roumanie, de l'État serbe-croate-slovène et de la Tchécoslovaquie, représentés respectivement par les soussignés, sont convenus de ce qui suit:

Armées d'Occupation.

ARTICLE 1er.

Les dispositions des paragraphes A, B, C, D de l'Article 2 de l'Accord financier du 14 janvier 1925 concernant les frais des armées d'occupation seront prorogées au cours de la deuxième année d'exécution du plan Dawes.

Les crédits correspondants seront alloués à concurrence d'un douzième chaque mois.

Les Gouvernements alliés et le Gouvernement des États-Unis d'Amérique discuteront avant le 1er septembre 1926, dans les conditions du § E de l'Article précité, le règlement des frais des armées d'occupation pour l'avenir."

Toutefois, si au cours de la deuxième année d'exécution du plan Dawes les Gouvernements alliés décident une évacuation ou une modification des zones d'occupation, la discussion aura lieu dans les deux mois qui suivront cette évacuation ou cette modification.

ARTICLE 2.

Haute-Commission interalliée dans les Territoires rhénans.

Le prélèvement maximum pour la Haute-Commission interalliée dans les Territoires rhénans (y compris les prestations au titre des Articles 8 à 12 de l'Arrangement rhénan) n'excédera pas 9 millions de marks-or (prélèvement à effectuer en monnaies étrangères ou en monnaie allemande, suivant les besoins) pendant la deuxième année d'exécution du plan Dawes, cette somme étant attribuée aux HautsCommissariats français, britannique et belge, comme suit:

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