2.  According  to  article  2:
a)  1°| 0  on  the  first  half  of  the  reparations  owed  by  Austria,  Hungary  and
Bulgaria  (the  total  amount  of  reparations  due  by  these  States,  was  officiously  estimated ­
  at  about  12  milliard  60  million  marks  gold;
b)  30°/ 0  of  the  second  half  of  the  reparations  owed  by  Austria,  Hungary
and  Bulgaria  1.800  million  marks  gold.
3.  Special  claims:
a)  Issue  of  notes  by  the  German  army  of  ocupation  2.173  millions  lei  gold 1 );
b)  Anticipated  enforcement  of  the  Treaty  of  Buc
  a  rest  1.600  »  n  »
c)  Gold  to  be  recuperated  from  the  liquidation  of  the  Austro-Hungarian  Bank.
II  Boumania’s  losses
1.  Losses  suffered  by  I  he  Roumanian  State  according  to  the  schedule  presented ­

  to  the  Commission  of  Reparations  31.099  milions  lei  gold.
2.  Obligations  imposelou  Roumania  by  the  Treaties ­
  of  Saint  Germain  and  Trianon.
a)  liberation  quota  28f>  »  „  >,
b)  Value  of  property  transferred  1.104  »  *  »
c)  Quota  of  the  Austro-Hungarian  prewar  public
debt')  1.637  kronen

Secured  debt

Towards  Austria
"  Hungary

Stog

Unseen  rt  d
Debt

Towards  Austria  .

»  Hungary
I

35.814  marks
146.614  kronen
.  9.653
|  17.49#  koronen  gold
|  101.556  »  paper
j  470.805  "  gold
|  902.351  »  paper

d)  Exchange  of  Austro-Hungarian  cun  ency  without ­
  any  security  circulating  in  the  new  territories
8.718  mil.  kronen  .  4.353  million  lei.
The  difference  between  Roumania’s  claims  out  of  the  general  reparations  on  one
side,  and  the  damages  and  obligations  of  the  Roumanian  State  on  the  other,
prove  most  clearly  by  the  foregoing  figures,  the  negative  balance  created  for
Roumania  by  the  Spa  agreement.
Making  approximative  calculations,  on  one  side,  of  the  damages  suffered  by
the  different  allied  States,  after  the  schedules  presented  to  the  Commission  of  repations
  and  on  the  other  side,  on  the  claims  allowed  by  the  Spa  agreement  we
obtain  the  following  figures.

{)  Without  considering  the  obligations  imposed  by  the  heaties,
2)  S  ting  that  the  obligations  and  charges  deriving  from  the  treaties,  the  Proportional  percen m
tayes  quoted  here  are  above  the  reality.