Note 21 — Chapter II

Under the Spa Agreement (see Appendix No. 1) Germany was to be paid in cash 5 gold marks per ton for all coal delivered, and, in the case of coal delivered overland, “lent” (i.e., advanced out of Reparation receipts) the difference between the German inland price and the British export price. At the date of the Spa Conference this difference was about 70s. per ton (100s. less 30s.), but this sum was not to be advanced in the case of the undetermined amount of coal delivered by sea. The advances were made by the Allies in the proportions, 61 per cent by France, 24 per cent by Great Britain, and 15 per cent by Belgium and Italy.