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The cost for such provides of food and raw material for Germany and such different funds as could also be judged by the Allied and Associated Powers to be essential to enable Germany to fulfill her obligations in respect of reparation may have priority to the extent and upon the circumstances which have been or could also 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 materials. 3) Germany undertakes to deliver, within one month from the approaching into power of the present Treaty, to such authority as the Principal Allied and Associated Powers might designate, the gold deposit constituted in the Reichsbank or elsewhere, representing the residue of the advance in 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 ship within one month from the date of the approaching into drive of the present Treaty, to such authority because the Principal Allied and Associated Powers could designate, the sum in gold which was to be deposited within the Reichsbank in the title of the Council of the Administration of the Ottoman Public Debt as safety for the primary difficulty of Turkish Government forex notes.

The fitting of each of the Allied and Associated Powers to dispose of enemy assets and property within its jurisdiction on the date of the approaching into force of the current Treaty is not 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 current Treaty, the Reparation Commission could inside one 12 months from the approaching into force of the present Treaty demand that the German Government change into possessed of any rights and pursuits of German nationals in any public utility undertaking 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 previously belonging to Germany or her allies, to be ceded by Germany or her allies to any Power or to be administered by a Mandatory under the current Treaty, and should require that the German Government switch, inside six months of the date of demand, all such rights and pursuits and any similar rights and interests the German Government might itself possess to the Reparation Commission. Such methodology could take the type, 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 transfer to the Allied and Associated Powers any claims she might should cost or repayment by the Governments of Austria, Hungary, Bulgaria or Turkey, and, particularly, any claims which can arise, now or hereafter, from the fulfilment of undertakings made by Germany through the conflict to those Governments. Aside from the U.S.A., all the Allied governments had been bankrupt and carried unpayable debts; all of Europe was devastated and incapable of feeding itself not to mention reconstructing. Enterprises, specifically, which are carried on by non-public entrepreneurs by using capital (money or items with a money value) to make a revenue, purchasing the technique of manufacturing and promoting the product, i.e. undoubted capitalistic enterprises, could at the same time have a traditionalistic character. § 2. The substitution of gold as an alternative of silver in a country like Germany which had a single silver medium was carried out by a path which led first to momentary bimetallism and later to gold monometallism.

Subject to such exceptions as the Reparation Commission may approve, a first charge upon all of the property and revenues of the German Empire and its constituent States shall be the cost of reparation and all different prices arising underneath the present Treaty or any treaties or agreements supplementary thereto or underneath arrangements concluded between Germany and the Allied and Associated Powers throughout the Armistice or its extensions. Germany shall be answerable 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 pursuits as could also 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 pursuits, whether already granted, contingent or not yet exercised, and shall renounce on behalf of itself and its nationals in favour of the Allied and Associated Powers all such rights and interests which haven't been so communicated.

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