19. With the reservation that any future concessions and claims by the Allies and United States of America remain unaffected, the following financial conditions are imposed:

Reparation for damage done.

While the Armistice lasts, no public securities shall be removed by the enemy which can serve as a pledge to the Allies to cover reparation for war losses.

Immediate restitution of the cash deposit in the National Bank of Belgium and, in general, immediate return of all documents, specie, stock, shares, paper money, together with plant for the issue thereof, affecting public or private interests in the invaded countries.

Restitution of the Russian and Roumanian gold yielded to Germany or taken by that Power.

This gold to be delivered in trust to the Allies until peace is concluded.

E—NAVAL CONDITIONS

20. Immediate cessation of all hostilities at sea, and definite information to be given as to the position and movements of all German ships.

Notification to be given to neutrals that freedom of navigation in all territorial waters is given to the Navies and Mercantile Marines of the Allied and Associated Powers, all questions of neutrality being waived.

21. All Naval and Mercantile Marine prisoners of war of the Allied and Associated Powers in German hands to be returned, without reciprocity.