coinage of the former Austro-Hungarian Monarchy existing in its territory. No such State shall have any recourse under any circumstances on behalf either of itself or of its nationals, against any other State with regard to such petty or token coinage. Note A "Caisse Commune" or Joint Office of Foreign Holders of Bonds of the Austrian and Hungarian Pre-war Public Debts was established by a protocol signed at Innsbruck, June 29, 1923 and completed by protocols signed at Prague, November 14, 1925 and Paris, March 15, 1926. It handled both secured and unsecured debts The secured debts were principally the obligations of the Chartered Company for the Austrian and Hungarian Railways (STE 9), the lines of which were divided according to mileage among the succes sion and cessionary states. The unsecured debts were distributed in the following proportions: (Reparation Commission, Official Documents, VII and XIII) The managing board of the Caisse Commune and representatives of the succession or cessionary states of former Austria and Hungar agreed on the final deficits and surpluses in the balance sheets for the unsecured annuities by a protocol signed at Paris, June 11, 193 With respect to the Austrian debts Austria, Poland, Rumanis Czechoslovakia, and Yugoslavia were debtors on the 4 per cent golt annuity to a total of some 255,000,000 florins and on the 4% per cent Treasury certificates 1914 to some 112,000,000 crowns. With respect to the Hungarian debts Hungary, Rumania, and Yugoslavia were debtors to the extent of 464,000,000 florins on the 4 per cen gold annuity, of 66,000,000 crowns on the 412 per cent 1913 annuity 272,000,000 crowns on the 42 per cent 1914 annuity, and 115,000,00 crowns on the 4 per cent Hungarian 1910 annuity. Italy was i creditor against the two Austrian annuities to over 8,000,000 florits and crowns. Austria, Poland, and Czechoslovakia were creditors against the four Hungarian annuities to the extent of 48,000,00 Note-Continued florins and 15,000,000 crowns, the Czechoslovak claim being 47,922,605 . florins. A further protocol of June 12 provided for the continuing 3. functions of the Caisse Commune. The conditions of payment of coupons of the several Austrian and Hungarian loans were arranged by an agreement signed at Paris on October 31, 1930, and an additional agreement of December 13, 1930, and an agreement of February 11, 1931. In addition to the publications of Reparation Commission, Nos. VII and XIII, concerning the Austro-Hungarian pre-war debts, the director of the Commission's Financial Section, Alceste Antonucci, published in 1932 a full account of that complex problem under the title Répartition et Règlement de la dette publique autrichienne et hongroise d'avant-guerre. Altogether 13 conferences were held between September 1922 and February 1931 to bring the matter into rits eventual shape. 5a. Declaration modifying the Preceding Agreement1 Signed at Paris, December 8, 1919; accession by Rumania, December 9, 1919; in force for signatories July 16, 1920, except: Japan, October 14, 1920 (notice of ratification deposited January 25, 1921); Belgium, July 24, 1920; Cuba, August 16, 1920; Portugal, October 15, 1921; Rumania, September 4, 1920. United States: Not submitted to the Senate by the President; Unperfected Treaties Q-9. Applicable to Hungary by operation of Article 74, par. 2, of the treaty of peace with Hungary signed at Trianon, June 4, 1920 and in force July 26, 1921. Nicaragua, Poland, and Czechoslovakia, though named in the preamble, did not sign, accede, or ratify. DECLARATION MODIFYING THE AGREEMENT OF SEPTEMBER 10, 1919, BETWEEN THE ALLIED AND ASSOCIATED POWERS WITH REGARD TO THE CONTRIBUTIONS TO THE COST OF LIBERATION OF THE TERRITORIES OF THE FORMER AUSTRO-HUNGARIAN MONARCHY. THE UNITED STATES OF AMERICA, BELGIUM, THE BRITISH EMPIRE, CHINA, CUBA, FRANCE, GREECE, ITALY, JAPAN, NICARAGUA, PANAMA, POLAND, PORTUGAL, SIAM AND THE CZECHOSLOVAK STATE. Powers who have signed the Agreement concluded on September 10, 1919, at Saint-Germain-en-Laye, with regard to the contributions to the cost of liberation of the territories of the former Austro-Hungarian Monarchy, and THE SERB-CROAT-SLOVENE STATE, which by an Act dated December 5, 1919, has acceded to the said Agreement subject to the modifications which are the subject of the present Declaration, Have agreed to modify the Agreement referred to above as follows: Articles 4 and 5 are replaced by the following provisions: ARTICLE 4. Each of the said States shall, within three months after being requested by the Reparation Commission so to do, issue bonds to the amount of the sum due by such State for liberation and the value of property transferred, and shall deliver them to such person or body as the Governments of the United States of America, the British Empire, France and Italy may designate. The above bonds shall be to bearer, principal and interest being payable by the issuing State without deduction for any tax or charge imposed by it or under its authority. The bonds shall bear interest at the rate of five per cent. per annum payable half yearly, beginning on January 1, 1926. They shall be repaid in twenty-five equal annual drawings, beginning on January 1, 1931. The issuing State, however, may, at its option, redeem all or part of the bonds issued by it at par and accrued interest at any time, provided, ninety days' notice of its intention so to do is given to the Govern ments of the United States of America, the British Empire, France and Italy. As and when payments on such bonds fall due, the Reparation Commission shall retain, against the sums due to each of States concerned for reparation, the sums required for interest and amortization. Plenipotentiaries who in consequence of their temporary absence, from Paris have not signed the present Declaration may do so up to December 20, 1919. 1 Made in French, in English and in Italian, of which in case of divergence the French text shall prevail, at Paris, the eighth day of December one thousand nine hundred and nineteen. FRANK L. POLK. GEORGE H. PERLEY. ANDREW FISHER. VIKYUIN WELLINGTON Koo. $S. PICHON. L. L. KLOTZ. JULES CAMBON. NIK. P. PACHITCH. 6. Agreement between the Allied and Associated Powers with Regard to the Italian Reparation Payments1 Signed at Saint-Germain-en-Laye, September 10, 1919; accessions by the Serb-Croat-Slovene State December 5, 1919, and by Rumania, December 9, 1919; in force for signatories July 16, 1920, except: Japan, October 14, 1920 (notice of ratification, deposited January 25, 1921); Belgium, July 24, 1920; Cuba, August 16, 1920; Nicaragua, January 29, 1921; Poland, August 22, 1924; Portugal, October 15, 1921; Rumania, September 4, 1920; Panama. United States: Not submitted to the Senate by the President; Unperfected Treaties R-9. Applicable to Hungary by operation of article 74, paragraph 2, of the treaty of peace with Hungary signed at Trianon, June 4, 1920 and in force July 26, 1921. AGREEMENT BETWEEN THE UNITED STATES OF AMERICA, BELGIUM, THE BRITISH EMPIRE, CHINA, CUBA, FRANCE, GREECE, ITALY, JAPAN, 1 File 763.72119/7299. NICARAGUA, PANAMA, POLAND, PORTUGAL, ROUMANIA, THE SERB-CROAT-SLOVENE STATE, SIAM, AND THE CZECHO-SLOVAK STATE, WITH REGARD TO THE ITALIAN REPARATION PAYMENTS. The Undersigned, duly authorized by their respective Governments, have taken note of the declaration made by Italy in Article 1 of the present Agreement, and have agreed on the subsequent provisions : ARTICLE 1. Italy declares that she has made the greatest sacrifices and borne the heaviest financial burdens in the war waged for the liberation of Italian territory remaining subject to the former Austro-Hungarian Monarchy, and for the other lofty aims of the Allied and Associated Powers; That, in addition, the territories ceded to Italy have sacrificed as a result of the Treaty of Peace with Austria a large proportion of their wealth, and that they have already contributed in other ways to the reparation of the damage caused by the war in which they have so cruelly suffered; That, nevertheless, with the object of facilitating an agreement between the States arising from the dismemberment of AustriaHungary, or acquiring territories of the former Monarchy, as to the contribution to be made by them towards the cost of liberating the territories of the former Austro-Hungarian Monarchy and of reparation, Italy agrees to contribute to these expenses in the manner provided in the present Agreement. ARTICLE 2. Italy, as a State acquiring territory formerly part of the AustroHungarian Monarchy, agrees, on account of such acquisition, to be debited against her approved claims for reparation under the Treaties of Peace concluded with Germany, Austria, and the Powers which fought upon their side, with a sum in gold francs (the gold franc being taken as of the weight and fineness of gold as enacted by law on January 1, 1914) to be calculated as set out in Article 3 below. ARTICLE 3. The ratio between the sum to be debited to Italy in accordance with Article 2 and the sum of 1,500,000,000 francs gold (or between such sum and the total amount of the contributions to be made by Poland, Roumania, the Serb-Croat-Slovene State and the Czecho |