APPENDIX OF DOCUMENTS

217

(1) That a limit of time should be laid down after the expiration

of which no new deferment of debit should be permittedand the liquidation of the existing deferred debits shouldcommence to be made by regular annual instalments.

The precise length of this period should be determined upon anestimate of the time necessary to carry out the main work ofreconstruction, regard being had to the time required byGermany to effect the necessary supplies. In view of the delayswhich are inevitable in regard to operations of the magnitude ofthose contemplated, the prescribed period might be reasonablysomewhat longer than the four and a half years' initial periodunder the agreement, but it should not exceed seven years.

(2) That in no circumstances should the aggregate amount

for which debit against France for the time being standsdeferred be allowed to exceed a prescribed amount, say,4 milliard gold marks.

(3) That a provision should be inserted for the payment by

France to the general reparation account from time totime (within the limits of the deferred debits for thetime being outstanding) of any amounts which may benecessary to secure that the other Allies shall receivetheir proper proportions of the amounts due fromGermany under the Schedule of Payments.

Subject to the introduction of these safeguards, to which itwould not appear that legitimate exception could be taken, thearrangements contemplated by the agreement may be expectedto accelerate the solution of the Reparation problem on practicallines in a manner advantageous to France without prejudicingthe interests of other Powers, and it is upon this ground that theReparation Commission has unanimously recommended themfor favourable examination by the Allied Governments.

If the Allied Governments approve the general scheme, subjectto whatever safeguards they may decide to be necessary, therewill remain certain subsidiary points for the Reparation Com-mission to consider—amongst other :—