Editing World War I reparations (section)

===Initial demands===
{{further|Treaty of Versailles|Treaty of Saint-Germain-en-Laye (1919)|Treaty of Neuilly-sur-Seine|Treaty of Trianon|Treaty of Sèvres}}
[[File:Bundesarchiv Bild 183-R02190, Deutsche Reparationslieferungen.jpg|thumb|right|Trains loaded with machinery deliver their cargo in 1920 as reparation payment in kind.|alt=Several trains loaded with machinery take up the center of the photo. A group of nine men stand to the left.]]

The Treaty of Versailles stated that a [[Reparation Commission]] would be established in 1921. This commission would consider the resources available to Germany and her capacity to pay, provide the German Government with an opportunity to be heard on the subject, and decide on the final reparation figure that Germany would be required to pay. In the interim, Germany was required to pay an equivalent of {{nowrap|20 billion}} gold marks {{nowrap|({{USD|5 billion}})}} in gold, commodities, ships, securities, or other forms. The money would be used to pay Allied occupation costs and to buy food and raw materials for Germany.{{sfn|Martel|2010|p=156}}<ref>[[s: Treaty of Versailles/Part VIII|Treaty of Versailles, articles 232–235]]</ref> Article 121 of the Treaty of Neuilly acknowledged that "the resources of Bulgaria are not sufficient to enable her to make complete reparation". Therefore, the treaty required Bulgaria to pay a sum equivalent of 2.250&nbsp;billion [[Gold franc]]s in reparations.<ref>[[s: Treaty of Neuilly/Part VII#Article 121|Treaty of Neuilly, Article 121]]</ref>

The treaties of Saint-Germain-en-Laye, Trianon, and Sèvres acknowledged that [[First Austrian Republic|Austria]], [[Hungarian Republic (1919–20)|Hungary]], and [[Ottoman Empire|Turkey]] did not have the resources to pay reparations, and delayed the establishment of a final figure until the Reparation Commission was established.<ref>[[s: Treaty of Saint-Germain-en-Laye|Treaty of Saint-Germain-en-Laye, articles 178–9]]</ref><ref>[[s: Treaty of Trianon/Part VIII|Treaty of Trianon, articles 162–163]]</ref><ref>[[s: Treaty of Sèvres/Part VIII|Treaty of Sèvres, articles 231–236]]</ref> In addition, Bulgaria was required to hand over thousands of livestock to [[Kingdom of Greece (Glücksburg)|Greece]], [[Kingdom of Romania|Romania]], and the [[Yugoslavia|Serb-Croat-Slovene State]] "in restitution for animals taken away by Bulgaria during the war". This would not be credited towards the reparation figure.<ref>[[s: Treaty of Neuilly/Part VII#Article 127|Treaty of Neuilly, Article 127]]</ref> Likewise, Bulgaria had to dispatch 50,000 tons of coal a year to the Serb-Croat-Slovene State in restitution for destroyed mines. These shipments would not be credited against Bulgaria's reparation sum.<ref>[[s: Treaty of Neuilly/Part VII#Article 128|Treaty of Neuilly, Article 128]]</ref> Germany, Austria, and Hungary all had commitments to handover timber, ore, and livestock to the Allied Powers. They would, however, be credited for these goods.<ref>[[s: Treaty of Versailles/Part VIII|Treaty of Versailles, Annex IV–V]]</ref><ref>[[s: Treaty of Saint-Germain-en-Laye|Treaty of Saint-Germain-en-Laye, Annex IV–V]]</ref><ref>[[s: Treaty of Trianon/Part VIII|Treaty of Trianon, Annex V]]</ref>

In January 1921, the Allied Powers grew impatient and established the reparation sum at 226&nbsp;billion gold marks. The Germans countered with an offer of 30&nbsp;billion.{{sfn|Boemeke|Feldman|Glaser|1998|p=410}} On 24 April 1921, the German Government wrote to the American Government expressing "her readiness to acknowledge for reparation purposes a total liability of 50&nbsp;billion gold marks", but was also prepared "to pay the equivalent of this sum in annuities adapted to her economic capacity totalling 200&nbsp;billion gold marks".{{sfn|United States Department of State|1921|p=46}} In addition, the German Government stated that "to accelerate the redemption of the balance" and "to combat misery and hatred created by the war", Germany was willing to provide the resources needed and "to undertake herself the rebuilding of townships, villages, and hamlets".{{sfn|United States Department of State|1921|p=47}}