Chapter 402. To authorize the settlement of the indebtedness of the German Reich to the United States on account of the awards of the Mixed Claims Commission, United States and Germany, and the costs of the United States army of occupation
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CHAP. 402.— An Act To authorize the settlement of the indebtedness of the German Reich to the United States on account of the awards of the Mixed Claims Commission, United States and Germany, and the costs of the United States army of occupation. June 5, 1930.[[H. R. 10480](/us/bill/71/hr/10480).][[Public, No. 307](/us/pl/71/307).] *Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled*, Germany.Agreement with, for settlement of indebtedness of, to the United States.
That the Secretary of the Treasury, with the approval of the President, is hereby authorized to conclude an agreement for the settlement of the indebtedness of the German Reich (hereinafter referred to as Germany) to the United States of America under the terms and conditions set forth in Senate Document Numbered 95, Seventy-first Congress, second session.Terms. The general terms of the agreement shall be as follows:501
(1)Mixed claims.— Germany shall pay in full satisfaction of itsMixed claims.Aggregate amount. obligations remaining unpaid on account of awards, including interest thereon, entered and to be entered by the Mixed Claims Commission, United States and Germany, an aggregate amount of 2,121,600,000 reichsmarks to be evidenced by bonds of Germany which shall be dated September 1, 1929, and, except for the firstBonds to be issued far, payable in Moni annual installments from September 1, 1929, to March 31, 1981. which shall mature March 31, 1930, shall be paid in semiannual installments beginning September 30, 1930, and continuing up to and including March 31, 1981, subject, however, to the right of Germany to make such payments in three-year periods, any postponed paymentsThree-year periods allowed; interest. to bear interest at 5 per centum per annum, payable semiannually. The obligations of Germany hereinabove set forth in thisObligations tn when all payments made under Settlement of War Claims Act, completed.Vol. 45, p. 254. paragraph shall cease as soon as all the payments contemplated by the Settlement of War Claims Act of 1928 have been completed and the bonds not then matured evidencing such obligations shall be canceled and returned to Germany.
(2)Army costs arrears.— Germany shall pay in full reimbursementUnited States Army of Occupation.Aggregate cost there of.Bonds to be issued for, payable in semiannual installments from September 1, 1929, to March 31, 1966. of the amounts remaining due on account of the costs of the United States army of occupation an aggregate amount of 1,048,100,000 reichsmarks to be evidenced by bonds of Germany which shall be dated September 1, 1929, and, except for the first,Bonds to be issued fee, payable in semiannual installments from September 1, 1929, to March 31, 1981. which shall mature March 31, 1930, shall be paid in semiannual installments beginning September 30, 1930, and continuing up to and including March 31, 1966, subject, however, to the right of Germany to make such payments in three-year periods, any postponed payments to bearThree year periods allowed; interest. interest at 3⅝ per centum per annum, payable semiannually.
(3)In addition to the payment or the bonds maturing on MarchPrior payments allowed. 31 or September 30 of any year Germany shall have the right on such dates to make payments on account of any unmatured bonds of either series under such conditions as to notice or otherwise as the Secretary of the Treasury may prescribe.
(4)All bonds issued hereunder shall be payable in United StatesBonds payable in gold coin. gold coin in an amount in dollars equivalent to the amount due in reichsmarks. Germany shall undertake for the purposes of theMint parity of rotate-mark retained. Agreement that the reichsmark shall have and shall retain a mint parity of 1/2790 kilogram of fine gold. Approved, June 5, 1930.