German-American Debt Agreement
GERMAN-AMERICAN DEBT AGREEMENT
GERMAN-AMERICAN DEBT AGREEMENT. The 1930 agreement (not a treaty) fixed Germany's responsibility for costs of American occupation after World War I at $247,865,645. It arranged German payment of those costs, as well as for payment of the approximately 20 percent still-unpaid awards to U. S. citizens granted by the War Settlements Act of 1928. Germany delivered to the U. S. government two sets of long-term, non-interest-bearing bonds with coupons for annual payments of principal. On the first series Germany suspended payment in 1932 after paying in annual installments a total of $65,998,512; on the second series Germany suspended payment in 1935.
BIBLIOGRAPHY
Bemis, Samuel Flagg. Diplomatic History of the United States. New York: Holt, Rinehart and Winston, 1965.
Samuel FlaggBemis/c. w.
See alsoArmy of Occupation ; World War I ; World War I War Debts .