68 THE ECONOMIC CONSEQUENCES OF THE PEACE ch.

mainly reciprocal as regards the collection of com-mercial debts. But the completeness of their victorypermitted the Allied Governments to introduce intheir own favour many divergencies from reciprocity,of which the following are the chief: Whereas theproperty of Allied nationals within German juris-diction reverts under the Treaty to Allied ownershipon the conclusion of Peace, the property of Germans within Allied jurisdiction is to be retained and liquidatedas described above, with the result that the whole ofGerman property over a large part of the world can beexpropriated, and the large properties now within thecustody of Public Trustees and similar officials in theAllied countries may be retained permanently. In thesecond place, such German assets are chargeable, notonly with the liabilities of Germans , but also, if they runto it, with " payment of the amounts due in respect ofclaims by the nationals of such Allied or AssociatedPower with regard to their property, rights, and interestsin the territory of other EnemyPowers,"as,for example,Turkey, Bulgaria , and Austria. 1 This is a remarkableprovision, which is naturally non-reciprocal. In thethird place, any final balance due to Germany on privateaccount need not be paid over, but can be held againstthe various liabilities of the German Government. 2

1 The interpretation of the words between inverted commas is a littledubious. The phrase is so wide as to seem to include private debts. Butin the final draft of the Treaty private debts are not explicitly referred to.

2 This provision is mitigated in the case of German property in Poland and the other new States, the proceeds of liquidation in these areas beingpayable direct to the owner (Art. 92),