HC Deb 08 March 1922 vol 151 cc1304-5W
Captain BENN

asked the Financial Secretary to the Treasury whether the £46,647,615 received by the Treasury on account of German reparations includes the British share of the £50,000,000 paid by Germany in August last?

Mr. YOUNG

The answer is in the affirmative.

Captain BENN

asked the Financial Secretary to the Treasury what instalments are at present being paid by Germany on account of indemnity to the Allies; has a moratorium been granted to the German Government; and what sums have been demanded in cash and kind for the year 1922?

Mr. YOUNG

The Reparation Commission reached the following decision on 13th January when the Conference of Cannes broke up after the resignation of Monsieur BriandThe Reparation Commission decides to grant to the German Government a provisional postponement of the instalments due on the 15th of January and the 15th of February, 1922 (in so far as they are not covered by cash payments already made or which may be made, and by deliveries in kind and receipts under the Reparation Recovery Acts received or which may be received up to the respective duo dates) subject to the following conditions: —

  1. (a) During the period of provisional postponement the German Government shall pay, in approved foreign currencies, the amount of 31 millions of gold marks every ten days, the first payment being upon the 18th of January, 1922.
  2. (b)The German Government shall, within a period of 15 days, submit to the Commission a scheme of budget and currency reform, with appropriate guarantees, as well as a complete programme of cash payments and deliveries in kind for the year 1922.
  3. (c) The period of provisional postponement shall end as soon as the Commission or the Allied Governments have taken a decision with regard to the scheme and programme indicated in paragraph b.
Except and so far as may be otherwise provided in this decision, the difference between the amounts actually paid during the period of the provisional postponement and the sums due during the same period under the Schedule of Payments shall become due and payable within 15 days from the decision of the Reparation Commission or the Allied Governments, as the case may be. When the scheme and programme referred to above have been received by the Reparation Commission, they will be immediately transmitted by the Commission to the Allied Governments, who will thus be in a position either to deal with the matter themselves or to refer it back to the Commission to be dealt with by the latter. The payments referred to in paragraph (a)have been regularly made by the German Government. A Note was addressed by the German Government to the Reparation Commission on 28th January in pursuance of paragraph (b) and was immediately transmitted by the Commission to the Allied Governments. The further action to be taken is at present being considered by a Conference of Allied Finance Ministers in Paris.