APPENDIX OF DOCUMENTS 211

VIII. The Wiesbaden Agreement, October 6, 1921

This Agreement, signed by M. Loucheur and Herr Rathenauat Wiesbaden on October 6, 1921, is a lengthy document,consisting of a Protocol, Memorandum , and Annex. The effectiveclauses are to be found mainly in the Annex. The full text hasbeen published in a British White Paper [Cmd. 1547]. ThisWhite Paper also contains (1) an explanatory Memorandum,(2) the Decision of the Reparation Commission, and (3) a Reportfrom Sir John Bradbury to the British Treasury. Extracts fromthese three documents are given below.

1. Explanatory Memorandum

In order to understand the arrangements proposed by theWiesbaden Agreement, it is necessary to bear in mind certainprovisions of the Treaty of Versailles , the application of which isaffected by it.

The Treaty itself provides in the Reparation Chapter, PartVIII., and in some of its Annexes, for the partial liquidation ofGermany 's reparation indebtedness by deliveries in kind. Theimportant passages in this connection are Paragraph 19 of AnnexII. and Annex IV., which together make extensive provision forthe delivery, through the Reparation Commission, to the Alliedand Associated Powers of machinery, equipment, tools, recon-struction material, and, in general, all such material and labouras is necessary to enable any Allied Power to proceed with therestoration or development of its industrial or economic life.

Germany 's obligation being stated in terms of gold and notin terms of commodities, provision has necessarily been madein all cases for crediting Germany , from time to time, with thefair value, as assessed by the Reparation Commission, of suchdeliveries. Moreover, since the proportions received by therespective Powers in kind need not necessarily correspondexactly with their respective shares in Germany 's reparationpayments, as determined by Inter-Allied agreement, provisionis further necessarily made in the Treaty to render each Power

•