GERMAN GOVERNMENT PROPOSES NEW REPARATIONS OFFER
Berlin,Germany (JFK+50) On May 2,1923, the German government made a new reparations* offer proposing to pay thirty billion gold marks to cover the total amount owed according to the Treaty of Versailles**.
A bond issue at normal interest rates will be the proposed means of covering the amount of payment.
According to the Alaska Daily Empire, if the proposed amount is unsatisfactory, the matter will fall into the hands of an "unprejudiced international commission" which has been the suggestion of U.S. Secretary of State Charles Evans Hughes.
*reparations-compensation given for an abuse or injury
**The Treaty of Versailles (1919) required Germany to pay 133 billion German marks, equivalent to 33 billion US dollars, to cover civilian damage caused in WWI.
SOURCE
"New Reparations Proposals Are Made By German Government," The Alaska Daily Empire, May 2, 1923, Chronicling America, Library of Congress, www.loc.gov/
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