5 
beeing damaged, the restoration of general situation, as normally and hast ily as 
possible, must be for every body and consequently for those having sulfered 
damages a greater satisfaction than the sums which we might advance them 
to the pi ejudice of this consolidation and normalization. This is why we 
thought it best to follow the second solution. 
We think that in the serious financial situation in which some ot the 
Allied States which have adopted the first solution are placed, justified the prudent 
and unselfish manner in which the Roumanian State had acted. 
In the situation in which Roumania was on the morrow of the war, by pay 
ing the war damages and satisfying in a very feeb'e measure the sufferers by an 
ticipation, would have increased the evil rendering the financial restoration 
of the country impossible. 
Certainly that this prudent behaviour should not prevent us from thinking 
of these sufferers and of the special sacrifices which some citizens have made. 
More especially the Roumanian State has inscribed out ot its own resources the 
pavment of important sums for war pensions both in the former Kingdom as 
well as in the freed provinces, payments which the armistice and the treatees 
had put to the charge of our former enemies. 
Therefore as soon as we were assured of the balance of our budget and even 
of excesses, we destined in the last two budgetary years certain sums (very re 
duced compared to the total of the damages o50 mil lei) for assisting those 
who were seriously harmed. 
Of course the fii al settling of this obligation will depend in the first 
place, on the general policy of reparations and of interallied debts which forms 
the principal object of this report. 
On this policy it will depend whether our nationals having suffered 
war damages will be assisted, or it on the contrary new sacrifices will be 
demanded of them and the whole coumtry, making them pay instead of onr 
former enemies. 
This is in a short summing up, the stage in which Roumanian finan 
cial consolidation is at this moment We might resume it as we said above 
by the following assertions. The Roumanian State by its own means 
without any help from anybody, with great sacrifices made to the detriment of 
its restoration and endowments has assured its financial consolidation. It has 
therefore done all that depended on it. 
Alter the general war however, more especially for the States which parti 
cipated more completely in the hostilities, their financial consolidation can be 
strongly influenced by the manner in which the treaties will be applied for 
hastening or retarding the restoration of the country, and by the manner in 
which the question of the debts contracted between the Allied States during 
and because of the war, will be settled. 
Therefore the financial consolidation will be influenced by two factors 
which unfortunately this time do not depend exclusioly on us and our means. 
It is indifferent if these two questions will be joined together when they are