Looking more like an alert, smooth-shaven U. S. businessman than ever, M. Pierre Quesnay, youthful manager of the Bank for International Settlements (TIME, April 28), received at Paris last week the formal ratifications by Britain, France, Germany, Italy and Belgium which make operative the famed Young Plan of German Reparations, or as they are now called "International Settlements."
After a fortnight of wrangling over details, the experts of the B. I. S. ended by announcing their "agreement in principle" that:
Six Percent. The $300,000,000 issue of Young Plan Bonds will bear 5½% interest,...