atic organization, with a staff of
hundreds. To this organization, the headquarters of which will be in
Paris, the economic destiny of Central Europe is to be entrusted.

Its main functions are as follows:--

1. The Commission will determine the precise figure of the claim against
the enemy Powers by an examination in detail of the claims of each of
the Allies under Annex I. of the Reparation Chapter. This task must be
completed by May, 1921. It shall give to the German Government and to
Germany's allies "a just opportunity to be heard, but not to take any
part whatever in the decisions of the Commission." That is to say, the
Commission will act as a party and a judge at the same time.

2. Having determined the claim, it will draw up a schedule of payments
providing for the discharge of the whole sum with interest within thirty
years. From time to time it shall, with a view to modifying the schedule
within the limits of possibility, "consider the resources and capacity
of Germany ... giving her representatives a just opportunity to be heard."

"In periodically estimating Germany's capacity to pay, the Commission
shall examine the German system of taxation, first, to the end that the
sums for reparation which Germany is required to pay shall become a
charge upon all her revenues prior to that for the service or discharge
of any domestic loan, and secondly, so as to satisfy itself that, in
general, the German scheme of taxation is fully as heavy proportionately
as that of any of the Powers represented on the Commission."

3. Up to May, 1921, the Commission has power, with a view to securing
the payment of $5,000,000,000, to demand the surrender of any piece of
German property whatever, wherever situated: that is to say, "Germany
shall pay in such installments and in such manner, whether in gold,
commodities, ships, securities, or otherwise, as the Reparation
Commission may fix."

4. The Commission will decide which of the rights and interests of
German nationals in public utility undertakings operating in Russia,
China, Turkey, Austria, Hungary, and Bulgaria, or in any territory
formerly belonging to Germany or her allies, are to be expropriated and
transferred to the Commission itself; it will assess the value of the
interests so transferred; and it will divide the spoils.

5 The Commission will determine how much of the resources thus stripped
from Germany must be returned to her to keep enough life in her economi