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The cost for such supplies of meals and raw material for Germany and such different payments as may be judged by the Allied and Associated Powers to be essential to allow Germany to fulfill her obligations in respect of reparation can have precedence to the extent and upon the circumstances which have been or may be determined by the Governments of the stated Powers. Germany confirms the surrender of all material 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 ship, within one month from the approaching into pressure of the present Treaty, to such authority as the Principal Allied and Associated Powers could designate, the gold price now deposit constituted in the Reichsbank or elsewhere, representing the residue of the advance in gold 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 coming into drive of the current Treaty, to such authority because the Principal Allied and Associated Powers might designate, the sum in gold which was to be deposited within the Reichsbank in the name of the Council of the Administration of the Ottoman Public Debt as safety for the first issue of Turkish Government currency notes.

The fitting of each of the Allied and gold price today Associated Powers to dispose of enemy assets and property inside its jurisdiction on the date of the coming 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 present Treaty, the Reparation Commission could within one year from the approaching into power of the present Treaty demand that the German Government become possessed of any rights and interests 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 present Treaty, and will require that the German Government transfer, within six months of the date of demand, all such rights and pursuits and any comparable rights and pursuits the German Government may itself possess to the Reparation Commission. Such method might 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 switch to the Allied and Associated Powers any claims she may should payment or repayment by the Governments of Austria, Hungary, Bulgaria or Turkey, and, specifically, any claims which may come up, now or hereafter, from the fulfilment of undertakings made by Germany during the war to these 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, that are carried on by personal entrepreneurs by utilizing capital (money or goods with a cash worth) to make a revenue, buying the technique of manufacturing and selling 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 temporary bimetallism and later to gold monometallism.

Subject to such exceptions as the Reparation Commission could approve, a first charge upon all of the assets and revenues of the German Empire and its constituent States shall be the cost of reparation and all other costs arising below the present Treaty or any treaties or agreements supplementary thereto or below preparations concluded between Germany and the Allied and Associated Powers throughout the Armistice or its extensions. Germany shall be chargeable 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 worth 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 power of the present Treaty, talk to the Reparation Commission all such rights and pursuits, whether or not 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 pursuits which have not been so communicated.

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