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The cost for such supplies of food and raw material for Germany and such other funds as could also be judged by the Allied and Associated Powers to be essential to allow Germany to satisfy her obligations in respect of reparation may have priority to the extent and upon the conditions which have been or could also be decided by the Governments of the said 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, inside one month from the coming into force of the present Treaty, to such authority because the Principal Allied and Associated Powers may designate, the gold deposit constituted within 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 deliver inside one month from the date of the approaching into pressure of the current Treaty, to such authority as the Principal Allied and Associated Powers could designate, the sum in gold price which was to be deposited in the Reichsbank in the title of the Council of the Administration of the Ottoman Public Debt as safety for the primary subject of Turkish Government currency notes.

The suitable of each of the Allied and Associated Powers to dispose of enemy belongings and property inside its jurisdiction on the date of the approaching into power of the present Treaty isn't 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 12 months from the approaching into power of the current Treaty demand that the German Government develop 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 these States or in any territory formerly 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 should require that the German Government transfer, within six months of the date of demand, all such rights and interests and any similar rights and pursuits the German Government might itself possess to the Reparation Commission. Such method might take the type, inter alia, of the assumption by the ability to which the territory is ceded of Germany's legal responsibility for the German debt held by her nationals.

Germany undertakes to transfer to the Allied and Associated Powers any claims she may must cost or repayment by the Governments of Austria, Hungary, Bulgaria or Turkey, and, specifically, any claims which can come up, now or hereafter, from the fulfilment of undertakings made by Germany during the warfare to these Governments. Other than 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, namely, which are carried on by private entrepreneurs by using capital (money or items with a cash value) to make a revenue, buying the means of production and promoting the product, i.e. undoubted capitalistic enterprises, may at the same time have a traditionalistic character. § 2. The substitution of gold as an alternative of silver in a rustic 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 because the Reparation Commission may approve, a first charge upon all the assets and revenues of the German Empire and its constituent States shall be the cost of reparation and all different prices arising beneath the current Treaty or any treaties or agreements supplementary thereto or underneath arrangements concluded between Germany and the Allied and Associated Powers through the Armistice or its extensions. Germany shall be answerable for indemnifying her nationals so dispossessed, and the Reparation Commission shall credit score Germany, on account of sums due for reparation, with such sums in respect of the value of the transferred rights and pursuits as may be assessed by the Reparation Commission, and the German Government shall inside six months from the approaching into pressure of the present Treaty, communicate to the Reparation Commission all such rights and interests, whether or not already granted, contingent or not but exercised, gold price today 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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