Page images
PDF
EPUB

respect of each of His Britannic Majesty's Dominions which have adopted Section III and India, upon the basis, mutatis mutandis, laid down by the treaty and observed hitherto in the accounting between the British and German clearing offices.

ARTICLE 15.

In the event of His Britannic Majesty's Dominions which have adopted Section III or India or any of them not electing under article 13 to adhere to this agreement, all existing rights of the said Dominions and India and British nationals ordinarily resident within such Dominions or India are hereby expressly reserved and the separate account referred to in article 14 shall be deemed to be the account contemplated by paragraph 11 of the annex to Section III of Part X of the treaty.

In witness whereof the undersigned have signed the present agreement and have affixed thereto their seals.

Done at London, in duplicate, in the English and German languages, the 13th day of September, 1924.

auf jedes Dominium Seiner Britischen Majestät, das den Abschnitt III angenommen hat, und in bezug auf Indien aufgestellt werden, unter entsprechender Anwendung der Grundsätze, die im Versailler Vertrage niedergelegt und bisher bei der Abrechnung zwischen dem deutschen und dem britischen Ausgleichsamt angewandt worden sind.

ARTIKEL 15.

Falls die Dominien Seiner Britischen Majestät, die den Abschnitt III angenommen haben, oder eines von ihnen oder Indien sich nicht gemäss Artikel 13 für den Beitritt zu diesem Abkommen entscheiden, so bleiben alle bestehenden Rechte der genannten. Dominien und Indiens sowie der britischen Staatsangehörigen, die in der Regel dort ansässig sind, ausdrücklich ausdrücklich vorbehalten; das im Artikel 14 bezeichnete Sonderkonto gilt alsdann als das im § 11 der Anlage zu Abschnitt III des Teils X des Versailler Vertrags berücksichtigte Konto.

Zu Urkund dessen haben die Unterzeichneten das vorliegende Abkommen unterschrieben und ihre Siegel beigefügt.

Ausgefertigt in London am 13. September 1924, in doppelter Urschrift in deutscher und englischer Sprache.

(L.S.) J. RAMSAY MACDONALD. (L.S.) STHAMER.

[blocks in formation]

Amending the Method of Administering "The German Reparation (Recovery) Act, 1921."

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. 2384.

Agreement between Great Britain and Germany for Amending the Method of Administering "The German Reparation (Recovery) Act, 1921."

Agreement for Amending the Method of Administering "The German Reparation (Recovery) Act, 1921."

WHEREAS it is desired to reduce the burden and to remove the disabilities which the present method of administering "The German Reparation (Recovery) Act, 1921" (hereinafter referred to as "the Recovery Act"), places upon trade and commerce between Germany and Great Britain; and

Whereas it is also desired to assure to the Transfer Committee the jurisdiction over payments under the Recovery Act contemplated by the plan of the First Committee of Experts (hereinafter referred to as "the Dawes Plan") and the London Protocol executed on the 30th August, 1924;

Now, therefore, it is agreed between the Government of His Britannic Majesty and the Government of the German Reich that the present method of administration shall be suspended and replaced, as from a date not later than the 1st May, 1925, to be mutually agreed, by a procedure substantially as follows:

:

(1.) The present procedure under the Recovery Act by which a proportion of the value of German goods imported into Great Britain is collected by the British customs from the British importers will be replaced by a system under which an equivalent amount of sterling will be surrendered, of their free consent, by the German exporters in accordance with the provisions of paragraph (2) of this agreement.

The amount of sterling to be surrendered by the German exporters during each month shall be equivalent to 26 per cent. (or such other proportion as may from time to time be in force) of the value of German imports into Great Britain during the preceding month.

The value of German imports shall be calculated on the basis of the statistics supplied by the British customs and established on the same principles as are at present in force in regard to the definition of German goods to which the Recovery Act applies.

(2.) Out of the sterling proceeds accruing from German exports to Great Britain, the principal German exporting firms, to a number of not less than eight hundred (800) whose names and designations will be communicated to the British Government and to the AgentGeneral for Reparation Payments within fifteen days of the putting into force of this Agreement, will each give an individual declaration to the Reich Minister of Finance, in the terms of the specimen declaration annexed hereto, undertaking to surrender in sterling to the Reichsbank each month, beginning with the 1st May, 1925,

thirty per cent. (30 per cent.) of the invoice value of the exports of the firm in question to Great Britain during the previous month. (It is estimated that 30 per cent. of the value of the exports consigned by these firms should be approximately equivalent to 26 per cent. of the value of the total exports from Germany to Great Britain.)

(3.) Out of the sterling sums thus surrendered, the Reichsbank will deposit during each month, at such intervals as may be agreed, to the account of the Agent-General at the Bank of England an amount in sterling equivalent to the Reichsmark credit held by him for account of the British Government and available for payments. under the Recovery Act in accordance with the programme established by the Reparation Commission for the particular month after consultation with the Transfer Committee as contemplated by the Dawes Plan.

(4.) It is understood that, against telegraphic advice that the sums referred to in paragraph (3) have been duly deposited to his account at the Bank of England, the Agent-General will reimburse the German exporters through the Reichsbank with the equivalent in Reichsmarks of the sterling thus deposited. The equivalent in Reichsmarks will be calculated at the average rate of exchange in Berlin on the date of such deposit.

(5.) It is further understood that, subject to the approval of the Transfer Committee, the Agent-General will pay over to the British Government the sterling sums deposited under paragraph (3) above.

(6.) If during the first or any subsequent month after the coming into force of this agreement the sterling sums surrendered by the German exporters are in excess of the amounts deposited by the Reichsbank to the account of the Agent-General under paragraph (3) above, the Reichsbank will transfer the surplus sterling (Uberschuss devisen) surrendered to the Devisenbeschaffungsstelle G.m.b.H.* to be placed in a special reserve fund up to an amount equivalent to 10 million Reichsmarks. On the coming into force of this agreement, the Devisenbeschaffungsstelle G.m.b.H. shall forthwith pay into this fund the above-mentioned sum in sterling, out of the sterling accruing from exports already in its hands, and it will undertake to secure that the fund is maintained at this level as provided below. The fund shall be under the supervision of the Reichs Finance Ministry, and it shall be open to the British Government and to the Agent-General to ask and obtain at all times any information regarding this fund which they may desire.

If in any month the sterling surrendered by the German exporters is less than the amount which should be deposited to the account of the Agent-General at the Bank of England under paragraph (3) above, the Devisenbeschaffungsstelle G.m.b.H. shall draw the sum necessary to cover the deficiency out of the Special Reserve Fund and deposit it to the credit of the Agent-General at * The Devisenbeschaffungsstelle G.m.b.H. is the agency through which the German Government obtains the foreign currencies it requires. 1500 4/25 F.O.P. [12912]

2778 Wt.

[ocr errors]

B 2

the Bank of England, being reimbursed by him with the equivalent in Reichsmarks. Further, in that event, it will take steps to expedite the surrender by the German exporters of the sterling accruing from exports (Uberschuss devisen), so as to make up the fund again in sterling to the original level of 10 million Reichsmarks.

It is understood that the surplus sterling surrendered by the exporters to the Devisenbeschaffungsstelle G.m.b.H .and deposited in the Special Reserve Fund shall not be reimbursed by the Agent-General nor be credited on account of the Dawes annuity, except as and to the extent that such sterling shall actually be drawn upon and used by the Agent-General for payments to the British Government under paragraph (5).

(7.) It is understood and agreed that this Agreement merely provides for amending the method of collection of the levy on exports prescribed by the Recovery Act, that the payments made according to its terms shall accordingly be regarded for all purposes as a delivery pursuant to the terms of that Act, and that its provisions are without prejudice to any rights which may be enjoyed by the British Government in respect of that Act under the Dawes Plan, the London Protocol of the 30th August, 1924, or otherwise.

(8.) The British and German Governments both recognise the desirability of relieving trade and commerce from the burden of collecting a 26 per cent. levy from each transaction and of substituting for the system at present in force a method of administration which will permit the collection of the levy on a statistical basis. If the present agreement should not prove satisfactory in its operation, both Governments agree that in order to avoid reverting to the system at present in force, they will appoint a joint committee of experts to explore and report on any other available and practical solutions which will meet the defects which may be revealed. Both Governments agree to use their best endeavours to overcome the difficulties which may arise on the introduction of the new system during 1925.

(9.) This agreement shall not come into force unless and until appropriate resolutions, giving effect to its provisions, have been passed by the Transfer Committee and by the Reparation Commission. Subject to the adoption of such resolutions, the British and German Governments will immediately take the necessary steps to put it into effect.

In witness whereof the undersigned, duly authorised to that effect by their respective Governments, have signed the present agreement.

Done at Berlin, the 3rd April, 1925.

D'ABERNON,

His Britannic Majesty's Am-
bassador Extraordinary and
Plenipotentiary to the German
Republic.

C. v. SCHUBERT, Secretary of State in German Ministry of Foreign Affairs.

« PreviousContinue »