ni THE BURDEN OF THE LONDON SETTLEMENT 69
on the degree of success which attends the negotiationsbetween France and Germany for the supply by thelatter of materials required for the repair of thedevastated area. The value of the coal deliveriesdepends on factors already discussed on p. 44 above,the price of the coal being chiefly governed by the
.
1921-22 (Exports4 Milliards).
1922-23 andsubsequently
(Exports6 Milliards).
1922-23 andsubsequently
(Exports10 Milliards).
May 25
•39
•65
July 15Aug. 15
-
1-00
•50•39
•50•65
Oct. 15
•50
•50
Nov. 15
•26
•39
•65
Jan. 15
•50
•50
•50
Feb. 15
•26
•39
•65
April 15
•50
•50
•50
Total .
2-52
3-56
4-60
Equivalent in ster- j
ling at a dollar ex- [■
£156,000,000
£221,000,000
£286,000,000
change 1 of §4=£1 j
internal German price. At a price of 20 gold marksper ton and deliveries of 2,000,000 tons a month(neither of which figures are likely to be exceeded,or even reached, in the near future), coal will yieldcredits of -48 milliard gold marks. In the Loucheur-Rathenau Agreement 2 the value of deliveries in kind
1 I take this as a round figure, not as a prediction of the dollar exchange.The necessary adjustment can be made, in accordance with the actual courseof exchange, by reference to the table on p. 64 above.
2 See Excursus III.