NOTES ON INTERNATIONAL AFFAIRS FROM MAY 10 TO JUNE 10
Prepared by Allan Westcott, Professor, U. S. Naval Academy
GERMANY AND ALLIED POWERS
German Reparations Payments.—Complying with the terms of the Allied ultimatum of May 5, Germany on May 30 completed her initial reparations payment of one billion gold marks by turning over to the Reparations Commission in Paris the equivalent of 160 million gold marks in currency, and presenting German treasury bonds for the remainder. These bonds were twenty in number, each for about $10,000,000, and maturing within three months. The first two were paid as they fell due early in June. Germany's plan of taxation to cover reparations payments includes mortgages on 20% of all real estate at pre war value, and also a 20% government share in all business enterprises.