iv THE DIVISION OF THE RECEIPTS 133

applied in the first instance to debts owing fromGerman nationals to trie nationals of trie Alliedcountry in question, and the balance, if any, isretained for Reparation. What is to happen in thecase of similar German assets in the United States is still undetermined. The surplus assets, the valueof which may be about $300,000,000/ will beretained, until Congress determines otherwise, by theEnemy Property Custodian. There have been negoti-ations from time to time for a loan in favour ofGermany on the security of these assets, but thelegal position has rendered progress impossible. Atany rate this important German asset is still underAmerican control.

1 According to a statement published in Washington in August 1921the Custodian had in his hands German property to the value of $314,179,463.