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.From time to time it shall, with aview to modifying the schedule within the limits of possibility,'consider the resources and capacity of Germany.giving herrepresentatives a just opportunity to be heard'.'In periodically estimating Germany's capacity to pay, thecommission shall examine the German system of taxation, first, tothe end that the sums for reparation which Germany is required topay shall become a charge upon all her revenues prior to that forthe service or discharge of any domestic loan, and secondly, soas to satisfy itself that, in general, the German scheme oftaxation is fully as heavy proportionately as that of any of thePowers represented on the commission.'(3) Up to May 1921 the commission has power, with a view tosecuring the payment of £1,000 million, to demand the surrenderof any piece of German property whatever, wherever situated: thatis to say, 'Germany shall pay in such instalments and in suchmanner, whether in gold, commodities, ships, securities, orotherwise, as the reparation commission may fix'.(4) The commission will decide which of the rights andinterests of German nationals in public utility undertakingsoperating in Russia, China, Turkey, Austria, Hungary, andBulgaria, or in any territory formerly belonging to Germany orher allies, are to be expropriated and transferred to thecommission itself; it will assess the value of the interests sotransferred; and it will divide the spoils.(5) The commission will determine how much of the resourcesthus stripped from Germany must be returned to her to keep enoughlife in her economic organisation to enable her to continue tomake reparation payments in future.(62*)(6) The commission will assess the value, without appeal orarbitration, of the property and rights ceded under theArmistice, and under the Treaty -- rolling-stock, the mercantilemarine, river craft, cattle, the Saar mines, the property inceded territory for which credit is to be given, and so forth.(7) The commission will determine the amounts and values(within certain defined limits) of the contributions whichGermany is to make in kind year by year under the various annexesto the reparation chapter.(8) The commission will provide for the restitution byGermany of property which can be identified.(9) The commission will receive, administer, and distributeall receipts from Germany in cash or in kind.It will also issueand market German bonds of indebtedness.(10) The commission will assign the share of the pre-warpublic debt to be taken over by the ceded areas of Schleswig,Poland, Danzig, and Upper Silesia.The commission will alsodistribute the public debt of the late Austro-Hungarian empirebetween its constituent parts.(11) The Commission will liquidate the Austro-Hungarian Bank,and will supervise the withdrawal and replacement of the currencysystem of the late Austro-Hungarian empire.(12) It is for the commission to report if, in theirGet any book for free on: www.Abika.com THE ECONOMIC CONSEQUENCES OF THE PEACE86judgment, Germany is falling short in fulfilment of herobligations, and to advise methods of coercion.(13) In general, the commission, acting through a subordinatebody, will perform the same functions for Austria and Bulgaria asfor Germany, and also, presumably, for Hungary and Turkey.(63*)There are also many other relatively minor duties assigned tothe commission.The above summary, however, shows sufficientlythe scope and significance of its authority.This authority isrendered of far greater significance by the fact that the demandsof the treaty generally exceed Germany's capacity.Consequentlythe clauses which allow the commission to make abatements, if intheir judgment the economic conditions of Germany require it,will render it in many different particulars the arbiter ofGermany's economic life.The commission is not only to inquireinto Germany's general capacity to pay, and to decide (in theearly years) what import of foodstuffs and raw materials isnecessary; it is authorised to exert pressure on the Germansystem of taxation (annex II, paragraph 12(b))(64*) and on Germaninternal expenditure, with a view to ensuring that reparationpayments are a first charge on the country's entire resources;and it is to decide on the effect on German economic life ofdemands for machinery, cattle, etc., and of the scheduleddeliveries of coal.By article 240 of the treaty Germany expressly recognises thecommission and its powers 'as the same may be constituted by theAllied and Associated governments', and 'agrees irrevocably tothe possession and exercise by such commission of the power andauthority given to it under the present treaty'.She undertakesto furnish the commission with all relevant information.Andfinally in article 241, 'Germany undertakes to pass, issue, andmaintain in force any legislation, orders, and decrees that maybe necessary to give complete effect to these provisions'.The comments on this of the German financial commission atVersailles were hardly an exaggeration: 'German democracy is thusannihilated at the very moment when the German people was aboutto build it up after a severe struggle -- annihilated by the verypersons who throughout the war never tired of maintaining thatthey sought to bring democracy to us.Germany is no longer apeople and a state, but becomes a mere trade concern placed byits creditors in the hands of a receiver, without its beinggranted so much as the opportunity to prove its willingness tomeet its obligations of its own accord.The commission, which isto have its permanent headquarters outside Germany, will possessin Germany incomparably greater rights than the German emperorever possessed; the German people under its régime would remainfor decades to come shorn of all rights, and deprived, to a fargreater extent than any people in the days of absolutism, of anyindependence of action, of any individual aspiration in itseconomic or even in its ethical progress.'In their reply to these observations the Allies refused toadmit that there was any substance, ground, or force in them [ Pobierz caÅ‚ość w formacie PDF ]
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.From time to time it shall, with aview to modifying the schedule within the limits of possibility,'consider the resources and capacity of Germany.giving herrepresentatives a just opportunity to be heard'.'In periodically estimating Germany's capacity to pay, thecommission shall examine the German system of taxation, first, tothe end that the sums for reparation which Germany is required topay shall become a charge upon all her revenues prior to that forthe service or discharge of any domestic loan, and secondly, soas to satisfy itself that, in general, the German scheme oftaxation is fully as heavy proportionately as that of any of thePowers represented on the commission.'(3) Up to May 1921 the commission has power, with a view tosecuring the payment of £1,000 million, to demand the surrenderof any piece of German property whatever, wherever situated: thatis to say, 'Germany shall pay in such instalments and in suchmanner, whether in gold, commodities, ships, securities, orotherwise, as the reparation commission may fix'.(4) The commission will decide which of the rights andinterests of German nationals in public utility undertakingsoperating in Russia, China, Turkey, Austria, Hungary, andBulgaria, or in any territory formerly belonging to Germany orher allies, are to be expropriated and transferred to thecommission itself; it will assess the value of the interests sotransferred; and it will divide the spoils.(5) The commission will determine how much of the resourcesthus stripped from Germany must be returned to her to keep enoughlife in her economic organisation to enable her to continue tomake reparation payments in future.(62*)(6) The commission will assess the value, without appeal orarbitration, of the property and rights ceded under theArmistice, and under the Treaty -- rolling-stock, the mercantilemarine, river craft, cattle, the Saar mines, the property inceded territory for which credit is to be given, and so forth.(7) The commission will determine the amounts and values(within certain defined limits) of the contributions whichGermany is to make in kind year by year under the various annexesto the reparation chapter.(8) The commission will provide for the restitution byGermany of property which can be identified.(9) The commission will receive, administer, and distributeall receipts from Germany in cash or in kind.It will also issueand market German bonds of indebtedness.(10) The commission will assign the share of the pre-warpublic debt to be taken over by the ceded areas of Schleswig,Poland, Danzig, and Upper Silesia.The commission will alsodistribute the public debt of the late Austro-Hungarian empirebetween its constituent parts.(11) The Commission will liquidate the Austro-Hungarian Bank,and will supervise the withdrawal and replacement of the currencysystem of the late Austro-Hungarian empire.(12) It is for the commission to report if, in theirGet any book for free on: www.Abika.com THE ECONOMIC CONSEQUENCES OF THE PEACE86judgment, Germany is falling short in fulfilment of herobligations, and to advise methods of coercion.(13) In general, the commission, acting through a subordinatebody, will perform the same functions for Austria and Bulgaria asfor Germany, and also, presumably, for Hungary and Turkey.(63*)There are also many other relatively minor duties assigned tothe commission.The above summary, however, shows sufficientlythe scope and significance of its authority.This authority isrendered of far greater significance by the fact that the demandsof the treaty generally exceed Germany's capacity.Consequentlythe clauses which allow the commission to make abatements, if intheir judgment the economic conditions of Germany require it,will render it in many different particulars the arbiter ofGermany's economic life.The commission is not only to inquireinto Germany's general capacity to pay, and to decide (in theearly years) what import of foodstuffs and raw materials isnecessary; it is authorised to exert pressure on the Germansystem of taxation (annex II, paragraph 12(b))(64*) and on Germaninternal expenditure, with a view to ensuring that reparationpayments are a first charge on the country's entire resources;and it is to decide on the effect on German economic life ofdemands for machinery, cattle, etc., and of the scheduleddeliveries of coal.By article 240 of the treaty Germany expressly recognises thecommission and its powers 'as the same may be constituted by theAllied and Associated governments', and 'agrees irrevocably tothe possession and exercise by such commission of the power andauthority given to it under the present treaty'.She undertakesto furnish the commission with all relevant information.Andfinally in article 241, 'Germany undertakes to pass, issue, andmaintain in force any legislation, orders, and decrees that maybe necessary to give complete effect to these provisions'.The comments on this of the German financial commission atVersailles were hardly an exaggeration: 'German democracy is thusannihilated at the very moment when the German people was aboutto build it up after a severe struggle -- annihilated by the verypersons who throughout the war never tired of maintaining thatthey sought to bring democracy to us.Germany is no longer apeople and a state, but becomes a mere trade concern placed byits creditors in the hands of a receiver, without its beinggranted so much as the opportunity to prove its willingness tomeet its obligations of its own accord.The commission, which isto have its permanent headquarters outside Germany, will possessin Germany incomparably greater rights than the German emperorever possessed; the German people under its régime would remainfor decades to come shorn of all rights, and deprived, to a fargreater extent than any people in the days of absolutism, of anyindependence of action, of any individual aspiration in itseconomic or even in its ethical progress.'In their reply to these observations the Allies refused toadmit that there was any substance, ground, or force in them [ Pobierz caÅ‚ość w formacie PDF ]