On this principle the Treaty of Versailles (Art. 232) provided that in accordance with Germany's pledges already given as to the complete restoration for Belgium, Germany should undertake, in addition to the compensation for material damage, to make reimbursement of all sums which Belgium had borrowed from the Allied and Associated Governments up to November 11, 1918, together with interest at 5 per cent per annum on such sums.
Special Message to Congress on Acceptance of German Bonds for Belgian War Debt
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In recommending to you that Congress take appropriate action with regard to this agreement, certain facts should be brought to your attention.
We have been vigorously building up a great merchant marine and providing for improvement of marketing in foreign countries by the passage of an export trade law.
Clearly, this is no time for the erection here of high trade barriers.
Actual relief can come only from the adoption of constructive measures of a broader scope, from the restoration of peace everywhere in the world.
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