8. Agreement between the Reparation Commission and the German Government, signed at London, August 9, 19241

Signed at London, August 9, 1924; confirmed by signing of instruments of Reparation Conference, London, August 30, 1924; not subject to ratification; effective by virtue of the operation of the Experts’ (Dawes) Plan beginning September 1, 1924

THE Contracting Parties

Being desirous of carrying into effect the plan for the discharge of the reparation obligations and other pecuniary liabilities of Germany under the Treaty of Versailles proposed to the Reparation Commission on April 9, 1924, by the First Committee of Experts appointed by the Commission (which plan is referred to in this agreement as the experts’ plan) and of facilitating the working of the expert’s plan by putting into operation such additional arrangements as may hereafter be made between the German Government and the Allied Governments at the conference now being held in London, in so far as the same may lie within the respective [Page 889] spheres of action of the Reparation Commission and the German Government;

And the Reparation Commission acting in virtue not only of the powers conferred upon it by the said treaty, but also of the authority given to it by the Allied Governments represented at the said conference in respect of all payments by Germany dealt with in the experts’ plan but not comprised in Part VIII of the said treaty;

Hereby agree as follows:—

I.

The German Government undertakes to take all appropriate measures for carrying into effect the experts’ plan and for ensuring its permanent operation, and in particular—

a)

It will take all measures necessary with a view to the promulgation and enforcement of the laws and regulations required for that purpose (specially the laws on the bank, the German railways and the industrial debentures) in the form approved by the Reparation Commission;

b)

It will apply the provisions contained in Annex I hereto as to the control of the revenues assigned as security for the annuities under the experts’ plan and other matters.

II.

The Reparation Commission undertakes on its side to take all appropriate measures for carrying into effect the experts’ plan and for ensuring its permanent operation, and in particular—

a)

For facilitating the issue of the German loan contemplated in the experts’ plan;

b)

For making all financial and accounting adjustments necessary to give full effect to the experts’ plan.

III.

The Reparation Commission and the German Government agree—

a)

To carry into effect in so far as the same may lie within their respective spheres of action such additional arrangements as may hereafter be made between the German Government and the Allied Governments at the said conference now being held in London, including any provisions which may be so agreed for carrying into effect the experts’ plan or for the introduction of modifications of detail in the working of the said plan. The said additional arrangements [Page 890] when concluded shall be added in the form of a second schedule to this document and shall be identified by the signatures of two members of the Reparation Commission on behalf of that body and of two duly authorised representatives of the German Government.

b)

Any dispute which may arise between the Reparation Commission and the German Government with regard to the interpretation either of the present agreement and its schedules or of the experts’ plan or of the German legislation enacted in execution of that plan, shall be submitted to arbitration in accordance with the methods to be fixed and subject to the conditions to be determined by the London Conference for questions of the interpretation of the experts’ plan.

This provision shall be without prejudice to the arbitration clauses included in the experts’ plan or in the said German legislation or in any of the annexes hereto.

IV.

If no agreement shall be reached at the London Conference between the Allied Governments and the German Government for the purpose of carrying into effect the experts’ plan, this agreement shall be void.

Signed for the Reparation Commission:	Signed for the German Government:
Louis Barthou.	Marx.
John Bradbury.
Salvago Raggi.
Léon Delacroix.

London, August 9, 1924.

ANNEX I

Protocol concerning the Contributions to be made from the German Budget and the Institution of Control over the Revenues from Customs and the Taxes of Spirits, Tobacco, Beer and Sugar.

[Not reprinted; for text consult 120 British and Foreign State Papers, pp. 549, 551.]

ANNEX II a)

[See agreement next below.]

[Page 891]

ANNEX II b)

Agreement between the Allied Governments and the German Government to Carry out the Experts’ Plan of April 9, 1924, Signed at London, August 30, 1924

[Not reprinted; for text consult 30 League of Nations Treaty Series, p. 75.]