_Financial Clauses_
Any Power to which German territory is ceded will normally assume
in respect thereof a fair portion of the German pre-war debt, the
amount to be fixed in each case in accordance with certain stated
principles by the Reparation Commission. But France shall have no
liability for German debt in respect of Alsace-Lorraine.
The value of German Government property in ceded territory will
normally be credited to Germany on account of reparation; but
no credit will be given for any German Government property in
Alsace-Lorraine; nor will Mandatory Powers either assume any portion
of Germany's pre-war debts or give any credits for German Government
property.
Germany is required to pay the total cost of the Armies of
Occupation from the date of the Armistice for so long as they are
maintained on German territory. This cost is a first charge on her
resources; the next charge is for reparation.