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Note to Agreements 8 to 10-Continued

The fourth of the series, dated August 30, 1924, was the interAllied agreement "for the complete fulfilment, so far as they are concerned, of the plan". This agreement between the reparation creditors in the first of its six articles set forth amendments to part VIII, annex II, adopted by the governments represented on the Reparation Commission. A further agreement, dated August 30, 1924, embodied the first article as a decision which "shall be notified to the powers signatory to the Treaty of Versailles and to the Reparation Commission". This separate agreement is at 30 League of Nations Treaty Series, p. 97, and 119 British and Foreign State Papers, p. 500.

None of these agreements was subject to ratification and all entered into force by virtue of the operation of the Experts' (Dawes) Plan beginning September 1, 1924.

8. Agreement between the Reparation Commission and the German Government1

Signed at London, August 9, 1924; confirmed by signing of instru ments of Reparation Conference, London, August 30, 1924; not subject to ratification; effective by virtue of the operation of the Experts' (Dawes) Plan beginning September 1, 1924

THE Contracting Parties

Being desirous of carrying into effect the plan for the discharge of the reparation obligations and other pecuniary liabilities of Germany under the Treaty of Versailles proposed to the Reparation Commission on April 9, 1924, by the First Committee of Experts appointed by the Commission (which plan is referred to in this agreement as the experts' plan) and of facilitating the working of the expert's plan by putting into operation such additional arrangements as may hereafter be made between the German Government and the Allied Governments at the conference now being held in London, in so far as the same may lie within the respective

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spheres of action of the Reparation Commission and the German Government;

And the Reparation Commission acting in virtue not only of the powers conferred upon it by the said treaty, but also of the authority given to it by the Allied Governments represented at the said conference in respect of all payments by Germany dealt with in the experts' plan but not comprised in Part VIII of the said treaty;

Hereby agree as follows:

I.

The German Government undertakes to take all appropriate measures for carrying into effect the experts' plan and for ensuring its permanent operation, and in particular

a) It will take all measures necessary with a view to the promulgation and enforcement of the laws and regulations required for that purpose (specially the laws on the bank, the German railways and the industrial debentures) in the form approved by the Reparation Commission;

b) It will apply the provisions contained in Annex I hereto as to the control of the revenues assigned as security for the annuities under the experts' plan and other matters.

II.

The Reparation Commission undertakes on its side to take all appropriate measures for carrying into effect the experts' plan and for ensuring its permanent operation, and in particular—

a) For facilitating the issue of the German loan contemplated in the experts' plan;

b) For making all financial and accounting adjustments necessary to give full effect to the experts' plan.

III.

The Reparation Commission and the German Government agree a) To carry into effect in so far as the same may lie within their respective spheres of action such additional arrangements as may hereafter be made between the German Government and the Allied Governments at the said conference now being held in London, including any provisions which may be so agreed for carrying into effect the experts' plan or for the introduction of modifications of detail in the working of the said plan. The said additional arrangements

when concluded shall be added in the form of a second) schedule to this document and shall be identified by the signatures of two members of the Reparation Commission on behalf of that body and of two duly authorised representatives of the German Government.

b) Any dispute which may arise between the Reparation Commission and the German Government with regard to the interpretation either of the present agreement and its schedules or of the experts' plan or of the German legislation enacted in execution of that plan, shall be submitted to arbitration in accordance with the methods to be fixed and subject to the conditions to be determined by the London Conference for questions of the interpretation of the experts' plan.

This provision shall be without prejudice to the arbitration clauses included in the experts' plan or in the said German legislation or in any of the annexes hereto.

IV.

If no agreement shall be reached at the London Conference between the Allied Governments and the German Government for the purpose of carrying into effect the experts' plan, this agreement shall be void.

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Protocol concerning the Contributions to be made from the German Budget and the Institution of Control over the Revenues from Customs and the Taxes of Spirits, Tobacco, Beer and Sugar.

[Not reprinted; for text consult 120 British and Foreign State Papers, pp. 549, 551.]

ANNEX II a)

[See agreement next below.]

ANNEX II b)

Agreement between the Allied Governments and the German Government to Carry out the Experts' Plan of April 9, 1924, Signed at London, August 30, 1924

[Not reprinted; for text consult 30 League of Nations Treaty Series, p. 75.]

9. Agreement between the Allied Governments and the German Government concerning the Agreement of August 9, 1924, between the German Government and Reparation Commission1

Signed at London, August 30, 1924 after initialing on August 16; not subject to ratification; effective by virtue of the operation of the Experts' (Dawes) Plan beginning September 1, 1924.

THE Representatives of the Governments assembled in London, Having taken note of the provisions of the Agreement signed in London on August 9, 1924, between the German Government and the Reparation Commission, and of the questions of which under Article III of the said Agreement the settlement must be completed, Agree that the following clauses shall be embodied in the said Agreement:

CLAUSE 1.

The procedure for the settlement of disputes contemplated in Article III (b) of the said Agreement of August 9, 1924, shall be as follows:

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Subject to the powers of interpretation conferred upon the Reparation Commission by paragraph 12 of Annex II to Part VIII of the Treaty of Versailles and subject to the provisions as to arbitration existing elsewhere, and in particular in the Experts' plan or in the German legislation enacted in execution of that plan, all disputes which may arise between the Reparation Commission and Germany with regard to the interpretation either of File 462.00 R 296/282 and /1531.

the Agreement concluded between them, the Experts' plan, or the German legislation enacted in execution of that plan, shall be submitted for decision to three arbitrators appointed for five years; one by the Reparation Commission, one by the German Government and the third, who shall act as President, by agreement between the Reparation Commission and the German Government, or failing such agreement, by the President for the time being of the Permanent Court of International Justice.

Before giving a final decision and without prejudice to the questions at issue, the President, on the request of the first party applying therefor, may order any appropriate provisional measures in order to avoid an interruption in the regular working of the plan and to safeguard the respective rights of the parties.

Subject to any decision of the arbitrators to the contrary the procedure shall be governed by the provisions of the Convention of The Hague of October 18, 1907, on the pacific settlement of international disputes.

CLAUSE 2.

The German Government declares:

a) That it recognises that the Transfer Committee1 is free, subject to the conditions of the Report of the Experts, to employ the funds at its disposal in the payment for deliveries on customary commercial conditions of any commodities or services provided for in the programmes from time to time prescribed by the Reparation Commission after consultation with the Transfer Committee or by the Arbitral Commission provided for in paragraph (d) below, including in particular coal, coke and dyestuffs and any other commodities specially provided for in the Treaty of Versailles, even after the fulfilment of the Treaty obligations in regard to these commodities.

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The Transfer Committee was provided for by part XIII and annex 6 of the Experts' Report. It consisted of the Agent General for Reparation Payments and five members appointed by the Reparation Commission of United States, French, British, Italian, and Belgian nationality. As Germany's ob ligation was acquitted by payment of marks into thể account of the Agent General for Reparation Payments at the Reichsbank, the committee had the task, in addition to regulating execution of the program of deliveries in kind, of controlling "the transfer of cash to the Allies by purchase of foreign exchange and generally" of so acting "as to secure the maximum transfers, without bringing about instability of currency"

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