The Agreement between the Allied and Associated Powers with regard to the contributions to the cost of liberation of the territories of the former Austro-Hungarian Monarchy was signed at Saint-Germain-en-Laye on 10 September 1919, in French, English and Italian, the French text prevailing in case of divergence. The preamble names the United States, Belgium, the British Empire, China, Cuba, France, Greece, Italy, Japan, Nicaragua, Panama, Poland, Portugal, Romania, the Serb-Croat-Slovene State, Siam and the Czecho-Slovak State. It is not the Treaty of Peace with Austria, concluded at the same place on the same day.

Article 1: Poland, Romania, the Serb-Croat-Slovene State and the Czecho-Slovak State, as States to which territory of the former monarchy is transferred or States arising from its dismemberment, severally agree to pay, as a contribution towards the expenses of liberating those territories, sums not exceeding in the aggregate the equivalent of 1,500,000,000 gold francs, the franc being taken at the weight and fineness of gold enacted by law on 1 January 1914.

Article 2 divides the total according to the ratio of the average revenues, for the financial years 1911, 1912 and 1913, of the territories each acquired from the former monarchy; revenues of Bosnia and Herzegovina are excluded. The figures are those adopted by the Reparation Commission under Article 203 of Part IX of the Treaty of Peace with Austria as best representing financial capacity. The Czecho-Slovak contribution shall in no case exceed 750,000,000 francs; any excess reduces the aggregate of 1,500,000,000 francs and is not charged to the other States.

Article 3: the amount due for liberation, together with the value of property and possessions of the former monarchy transferred, assessed under Article 207 of the same Part IX, is set off against approved reparation claims, if any. Original Article 4: if liberation and property exceed those claims, the State shall, within three months of the Commission’s notification, issue bearer bonds for the excess, delivered to a person or body designated by the United States, the British Empire, France and Italy; interest at five per cent from 1 January 1926, repayment in twenty-five equal annual drawings from 1 January 1931, with optional redemption at par after ninety days’ notice. Article 5: if approved claims exceed the charge, the Article 3 amount is reckoned as reparation, and no further reparation payments are made to that State until the others have received a like proportion of their approved claims.

The Serb-Croat-Slovene State acceded on 5 December, Romania on 9 December. A declaration signed at Paris on 8 December 1919 replaced Articles 4 and 5: each of the four States issues bonds for the whole liberation sum plus the value of property, when the Commission so requests, and the Commission retains interest and amortisation against reparation due. For most signatories the agreement entered into force on 16 July 1920. The United States did not submit the text to the Senate. By Article 74(2) of the Treaty of Trianon the mechanism also applied to Hungary. League registration: Treaty Series, volume 2, No. 44.

The text consulted is the official Australian Treaty Series 1919 No. 10 reprint, aligned with British Treaty Series 1919 No. 14 and with FRUS 1919, Paris, volume 13. It is not the same-day agreement on Italian reparation payments, nor the December modifying declaration, which is a separate instrument.

Cover: the château at Saint-Germain-en-Laye, the signing venue; we do not claim the hall. Wikimedia Commons, free licence.

Sources consulted: Agreement between the Allied and Associated Powers with Regard to the Contribution to the Cost of Liberation of the Territories of the Former Austro-Hungarian Monarchy; Agreement with regard to the Contributions to the Cost of Liberation [1919] ATS 10.