The forms in which Germany can discharge the sum which she
has engaged herself to pay are three in number --
(1) immediately transferable wealth in the form of gold,
ships, and foreign securities; (2) the value of property in ceded
territory, or surrendered under the armistice; (3) annual
payments spread over a term of years, partly in cash and partly
in materials such as coal products, potash, and dyes.
There is excluded from the above the actual restitution of
property removed from territory occupied by the enemy, as, for
example, Russian gold, Belgian and French securities, cattle,
machinery, and works of art. In so far as the actual goods taken
can be identified and restored, they must clearly be returned to
their rightful owners, and cannot be brought into the general
reparation pool. This is expressly provided for in article 238 of
the treaty.
