nd

With  the  reserves  made  on  these  figures  till  their  final  verification  from
the  following  schedule  we  will  see  thai  the  debt  of  Roumania  amounts  to  about
the  following  amount  principal.
17  million  pounds  sterling
36  »  dollars
1.050  »  French  francs
116  »  It.  lire
z
Considering  the  diversity  of  the  currency  in  which  these  debts  are  expressed, ­
  and  the  diversity  of  their  relation  to  gold  parity,  their  addition  in  an
accountable  manner  cannot  be  done,  but  simply  a  comparative  account  on  the
basis  of  legal  parity.
The  Roumanian  State  as  was  shown  in  the  contents  of  the  report  to  the
counsel  of  Ministers,  as  well  as  in  the  two  memoirs  (on  the  reparations  and  the
interallied  debts  intends  to  proceed  to  settle  these  debts,  taking  into  account  the
special  circumstances  in  which  they  were  contracted,  of  their  quality  of  political ­
  war  debts,  and  of  the  conditions  in  which  Roumania  carried  on  the  war,
by  the  prolongation  of  her  war,  and  by  the  fact  that  the  supplies  she  made
after  the  general  armistice,  were  a  direct  consequence  of  her  speculation  by  the
enemy  ;  at  the  same  time  Roumania  intends  to  settle  the  question  of  her  interallied ­
  debts,  with  the  question  of  the  reparations  as  she  showed  in  this  report.
Her  possibilities  for  paying  is  the  principal  criterium  which  must  rule
the  liquidation  of  these  debts.  To  take  no  notice  of  this  possibility  would  mean
to  put  aside  from  the  beginning  the  possibility  of  fulfilling  the  arrangements
which  might  be  agreed  upon  for  settling  these  interallied  debts.
The  Roumanian  State  intends  to  proceed  to  settle  all  its  interallied  debts.
Only  by  joining  all  these  debts  together  can  they  be  settled  in  a  lasting  manner,
seeing  that  the  arrangements  made  in  respect  of  some  of  them  might  influence
the  payment  of  others.

3 )  This  sum  was  obtained  by  taking  ont  of:
9.451.173.13.  4
1.353.195.15.8  paid  to  the  different  departments,  by  the  Roumanian  Legation  in  London  ont  of  the  varions
8.097.977.17.10  credits  placed  at  its  disposition  at  the  Bank  of  England  on  account  of  material  supplied  to  the
Roumanian  army  during  the  war.
4 )  Relief  bonds  the  capital  benig  £  1.956.133  and  the  rest  interest.
According  to  the  information  of  the  Roumanian  delegate  in  London  the  English  account  at  present  is  :
£  4.311.814  material;
»  12.260.144  advances;
.  2.200.000  Relief  Bonds.
£  18.771.958
6 )  On  this  sum  of  22.766.808,55  the  Roumanian  Government  makes  reserves  till  an  arrangement  with  the
Italian  Government  is  made.
t)  This  sum  was  obtained  by  taking  ont  of  96.235.126,97  the  following  sums  :
972.785  passed  to  war  time  expensis.
2.409.354,52  Ron  manias  creditor  account.
8 )  With  reserves  for  65.568.79  dollars.