Ill

Taking  notice  however  of  the  declarations  of  the  United  States  of  America
government,  and  ot  the  tact  that  that  State  observes  a  very  reserved  attitude
regarding  the  reparation  problem,  the  Roumanian  State  from  the  point  of  view
of  the  forms,  must  first  settle  its  debt  to  the  United  States  on  the  basis  of  its
possibilities,  and  in  connection  with  those  of  Roumania’s  other  interallied  debts
which  are  much  larger.
It  will  be  necessary  also  at  the  same  time,  to  see  what  interest  will  be
payable  from  the  moment  when  it  will  be  decided  that  these  debts  should
be  paid.
Likewise  the  Roumanian  State  intends  at  the  same  time  as  it  arranges  its
interallied  debts  to  review  the  provisional  arrangements  made  by  Roumania,
with  reserves  for  some  of  the  war  debts.
And  at  last  some  o!  our  claims  against  some  of  our  allies  caused  by  the
destruction  ot  our  oil  fields  and  the  issue  of  Banca  Generala  notes  must  be
considered.
Roumania  believing  in  the  spirit  of  justice  of  loyalty  and  of  equity  of  her
great  allies  intends  to  proceed  within  the  scope  of  these  observations  to  settle  her
interallied  debts.