VII

REMEDIES

245

to hear arguments about its compilation. I suggest,therefore, the following settlement:

(1) The amount of the payment to be made byGermany in respect of Reparation and the costsof the Armies of Occupation might be fixed at£2000 million.

(2) The surrender of merchant ships and submarinecables under the Treaty , of war material under theArmistice, of State property in ceded territory, ofclaims against such territory in respect of public debt,and of Germany 's claims against her former Allies,should be reckoned as worth the lump sum of£500 million, without any attempt being made toevaluate them item by item.

(3) The balance of £1500 million should notcarry interest pending its repayment, and should bepaid by Germany in thirty annual instalments of£50 million, beginning in 1923.

(4) The Reparation Commission should be dis-solved, or, if any duties remain for it to perform, itshould becozne an appanage of the League of Nations and should include representatives of Germany and ofthe neutral States.

(5) Germany would be left to meet the annualinstalments in such manner as she might see fit, anycomplaint against her for non-fulfilment of her obliga-tions being lodged with the League of Nations . Thatis to say, there would be no further expropriation ofGerman private property abroad, except so far as is