The report of the Minister of Finance to the Counsel of Ministers on the situation of Roumania created by the reparation and interallied debts policy

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Monograph

Identifikator:: 102318091X

URN:: urn:nbn:de:zbw-retromon-55477

Document type:: Monograph

Title:: The report of the Minister of Finance to the Counsel of Ministers on the situation of Roumania created by the reparation and interallied debts policy

Place of publication:: Bucarest

Publisher:: Government Press

Year of publication:: 1925

Scope:: 1 Online-Ressource (115 Seiten)

Collection:: Economics Books

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4- 83 r Ol CD fesouerces on a count of the great member of Russian troops which were Decoming regular bands of robbery and destruction. In virtue of this arrangement the representatives of the United States of ►England and of France were authorized to hand to the Roumanian Government Irafts in order to procure in Russia necessary supplies for the population and he army. These drafts were to be negotiated by the Interallied Commission in Russia and their produce was to cover the price of purchases made for supplying :„;he country and the army: For this object were issued: By the French Government through Mr. de St. Aulaire French francs : 5.500.000. By the English through Mr. Barclay £. 600.000. By the American Government through Mr. Wopika S' 5.000.000. Out of these drafts only the French ones for 3.000.000 francs were nego tiated at the beginning and used for paying supplies, the rest of 5.500.000 | ^rench francs in drafts, by cause of the events in Russia there being no sufficient yarantecs for depositing supplies or buying goods for immediate use, served kith the consent of the representatives of the Allies as metallic stock for the ssue which the National Bank consented to make for the government which >aid the supplies for the army and the country from Bessarabia. During all this Deriod the Allied govenments were hoping that the Russian front would be 'eformed by the action in Ukraina, no longer asked Roumania to go on resis- ing but still helped her for getting supplies from Bessarabia which was practi- ‘.ally separated from the anarchy of Russia by the Moldavian National movement. If was only under the Marghiloman government that some of the Allies nade reserves on the use of these drafts on account of the political situation ind of the attitu le which that government adopted under the pressure of general Itackensen. These drafts are binding in the same way as the other English advances ind are included within the frame of the Interallied debts. As we shall see lower down the English and American drafts have been ^k’ithdraws (anex 20) or annulled and the issue of the National Bank based m these drafts remained completly uncovered. Therefore in this period of the war the financial operations which influenced )ur present financial situation are the following : 1. The guarantee of the issue for internal needs by England. 2. Special drafts which were used either directly or for issue made in view >f supplies in Russia or in Bessarabia. 3. The regular war contribution levied by anticipation by the enemy who ssued in the occupiei territory Banca Generala notes and confiscated the sums leposited by the National Bank at the Reichs Bank. 4. The consequences of the application of the Treaty of Bnearest which ikewise in the shape of supplies of cereals horses etc., a regular fresh war contribution.

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