As though to make that point plain, the Committee goes
on to make the further assumption that " German economic activity will be unhampered by any form of control organization other than that provided for in the scheme." All existing measures hampering such activity, it is laid down, are consequently to be withdrawn as soon as Germany has taken positive steps such as setting up the machinery by which the assigned revenues will flow through Allied control. That is obviously a repudia- tion of M. Poincare's policy. The scheme itself provides for establishing a Bank of Issue which would be an entirely new Bank or would at least be a complete reorganization of the Reichsbank. The new or reformed Bank will alone be authorized to issue notes for 50 years, the notes to be stabilized in relation to gold. The Bank will have a German president and a German managing board, but there will be also a general board, which will consist of seven Germans and seven foreigners.
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