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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10 especially for the succeeding States, without applyind to these obligations the reductions which were applied to the enemy’s debts, have created a dangerous situation for these succeeding States ; the compensations which had been pro vided miongst all those having liabilities, and rights were forgotten (See the Conference of March 22 nd and the bonds C. for the former to be recovered trom the latter annex 54) and in this way we have arrived in the extraor dinary situation, that while the enemies have been relieved, the conqueror allies were threatened to pay for them. In these conditions not ever receiving any other reparations than the de risory Spa quota, out of the German and Bulgarian reduced compensations, Roumania finds herself with nearly 3 milliards lei gold, paid to her former enemies, and with the invitation to pay the pre-war debt of Austro-Hungary, the liberation quota, and the transferred Austro-Hungarian property. 5. Roumania brought a special contribution to the cause of the Allies even beyond carrying away the treasure to Moscow, by destroying her petroleum works which have not been paid for to this day as was promised, this was a new loss of over £ 20.000.000 which must be added to Roumania’s contri bution towards the war. The settlement of this matter is still in suspense and our interest is to hasten a speedy decision. The manner in which in the inter allied debt policy, the creditor states de mand the settlement of the war debts of the allied states, has two effects as re gards us : to create by the above payment of the obligations which are put to our charge a negative balance, endangering in this way the financial consolida tion which we have undertaken and secondly also to endanger our monetary consolidation leaving the issue made in war time, without any security. We may class the creditor states trom the point of view of the interal lied debt policy in three categories: the United states who do not intend to connect the reparation policy with the interallied debts ; England who ac cording to the Balfour not", consents to a reduction but, only in respect of the payment which might be made to her by the former enemies and the reduc tion which the United States of America would make her; and lastly France who understands to bind the interallied debts with the payments made by the enemy, that is she requests that the good will shown to the latter should be shown also, at least in the same measure to the debitor allies. From the statement made above, and from the memoire joined to this report, taking into consideration the special conditions in which we are to day, the following are, in our opinion, the lines to be followed by us in order to arrive at a solution as complete and as solid as possible, of the reparation and interallied debts question. As we reminded you higher up the settling of the interallied debts has entered into a new decisive phase and as you were good enough to agree in July, a commission will start for America at the beginning of the month of Octo ber, in order to arrange with the Government of the United States of America vt; * -- « f V 4U- ** A > « f> *

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