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Many countries, including Kuaaia and China, believe that the proposed
quotas art inadequate for thair need*.

2* Several countries* including Russia, wish to haTe a reduction of
50 portent in tht required gold subscription of oountries that
have suffered substantial damage by enemy action or occupation.

I l l t l i wishes to have gold subsoriptior. based on not holdings of
gold, offsetting their gold holdings in part by gold obligations.

4* Kussla believes that the requirement to repurchase loot! currency
with gold should not apply to newly-mined gold*
5* Belgium, China, Csechoalovakia, Netherlands and several other
occupied countries favor a mere flexible provision &r the alteration of exehangt rates* 1M particular, they favor sotting exchange
rates provisionally at the time of the establisfcasnt of the fund*
leaving definitive rates for subsequent determination •

itussia wishes to reserve power to change hear exeha&ge rats without
the approval of the Rind since she holds that her exchange rate has
no offset on international transactions*

7* Several countries object to the d o s e relationship between quotas
and voting power. Russia believes that* in determining voting power*
other considerations than those entering into the determination of
quotas should be considered.

8. U»K« wishes TO ting power In the executive coiaiUte to be in the
order of importance of the countries but not necessar&y vary
closely n U t i d to their quotas.
9* Australia and BeXgiua believe that no neaber counts? ihould \m
p«ntltt«d to nave aor« than 20 or 25 pareanfc of tha aggregate vote*.

lfe» 0*S« ami Canada favor a provision undtr which &m votaa of
creditor countriaa would ba inertaaad and th« rotes of tha debtor
eountriwi wou3.d ba daereasod in voting on question* relating to
th» sale of oxehango.

XX* Many countries believe that aera prelaw* ahoold fea pat upon
creditor countries, whose currencieu hav« been declared In scarce
supply, to secure an appropriate balance of payasnts.

silver £ir gold in the subscriptions to the fund*