The payment for such provides of meals and uncooked materials for Germany and such different funds as may be judged by the Allied and Associated Powers to be important to enable Germany to fulfill her obligations in respect of reparation will have precedence to the extent and upon the circumstances which have been or may be determined by the Governments of the said Powers. Germany confirms the surrender of all materials handed over to the Allied and Associated Powers in accordance with the Armistice of November 11, 1918, and subsequent Armistice Agreements, and acknowledges the title of the Allied and Associated Powers to such material. 3) Germany undertakes to deliver, within one month from the approaching into drive of the current Treaty, to such authority as the Principal Allied and Associated Powers may designate, the gold deposit constituted within the Reichsbank or elsewhere, representing the residue of the advance in usd gold price agreed to on May 5, 1915, by the Council of the Administration of the Ottoman Public Debt to the Imperial Ottoman Government. 1) Germany agrees to deliver inside one month from the date of the approaching into power of the current Treaty, to such authority as the Principal Allied and Associated Powers might designate, the sum in gold which was to be deposited in the Reichsbank in the identify of the Council of the Administration of the Ottoman Public Debt as safety for the first subject of Turkish Government currency notes.

The suitable of each of the Allied and Associated Powers to dispose of enemy property and property within its jurisdiction on the date of the approaching into drive of the current Treaty isn't affected by the foregoing provisions. Without prejudice to the renunciation of any rights by Germany on behalf of herself or of her nationals in the other provisions of the present Treaty, the Reparation Commission may within one year from the coming into power of the current Treaty demand that the German Government turn into possessed of any rights and pursuits of German nationals in any public utility endeavor or in any concession working in Russia, China, Turkey, Austria, Hungary and Bulgaria, or within the possessions or dependencies of those States or in any territory formerly belonging to Germany or her allies, to be ceded by Germany or her allies to any Power or to be administered by a Mandatory underneath the present Treaty, and should require that the German Government transfer, within six months of the date of demand, all such rights and interests and any comparable rights and interests the German Government may itself possess to the Reparation Commission. Such technique might take the kind, inter alia, of the assumption by the facility to which the territory is ceded of Germany's liability for the German debt held by her nationals.

Germany undertakes to switch to the Allied and Associated Powers any claims she could have to fee or repayment by the Governments of Austria, Hungary, Bulgaria or Turkey, and, in particular, any claims which can arise, now or hereafter, from the fulfilment of undertakings made by Germany in the course of the battle to those Governments. Aside from the U.S.A., all of the Allied governments have been bankrupt and carried unpayable debts; all of Europe was devastated and incapable of feeding itself not to mention reconstructing. Enterprises, particularly, that are carried on by personal entrepreneurs by using capital (money or goods with a cash worth) to make a revenue, buying the technique of manufacturing and promoting the product, i.e. undoubted capitalistic enterprises, may at the same time have a traditionalistic character. § 2. The substitution of gold as a substitute of silver in a country like Germany which had a single silver medium was carried out by a path which led first to non permanent bimetallism and later to gold monometallism.

Subject to such exceptions because the Reparation Commission may approve, a primary charge upon all the belongings and revenues of the German Empire and its constituent States shall be the cost of reparation and all other prices arising under the present Treaty or any treaties or agreements supplementary thereto or under preparations concluded between Germany and the Allied and Associated Powers throughout the Armistice or its extensions. Germany shall be accountable for indemnifying her nationals so dispossessed, and the Reparation Commission shall credit Germany, on account of sums due for reparation, with such sums in respect of the value of the transferred rights and interests as may be assessed by the Reparation Commission, and the German Government shall inside six months from the approaching into force of the current Treaty, communicate to the Reparation Commission all such rights and interests, whether or not already granted, contingent or not but exercised, and shall renounce on behalf of itself and its nationals in favour of the Allied and Associated Powers all such rights and pursuits which haven't been so communicated.

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