Full text : 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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FIRST  SECTION
ARMED  NEUTRALITY  PERIOD  (1914—1916)
The  world’s  war  begins  in  August  1919,  that  is,  hardly  a  year  alter  the  Balkanic
  war,  in  which  Houmania  was  obliged  to  take  part  in  1913,  in  order  to
reestablish  the  equilibrium  in  Eastern  Europe,  where  she  represented  the  principle ­
  of  peace  and  stability.
The  aggression  of  the  Central  Powers  in  August  1914  allowed  Roumania,
on  the  one  hand  to  desolidarize  herself  from  them,  withal  her  critical  position
on  account  of  her  isolation,  and  on  the  other  hand  to  afford  an  indirect  aid  to
her  future  allies  1 ).
Roumania’s  neutrality,  kindly  towards  the  a  Hies  (See  annex  No...  The  Convention ­
  with  Russia,  dated  September  1914)  imposed  great  material  sacrifices
on  her.  2 )
Her  economical  and  financial  situation  which  was  so  flourishing  to  that
moment,  (Annex  8)  was  immediately  impaired  not  only  by  the  blocking  of  the
Dardanelles,  but  also  by  the  attitude  she  took  regarding  her  commerce  on  her
Western  frontiers,  both  in  order  to  prevent  German  transit  towards  Turkey
and  Bulgaria,  as  well  as  to  baulk  the  Central  Powers  in  supplying  themselves
with  petroleum,  cereals  and  wood.  This  provoked  almost  a  complete  stagnation ­
  of  export  just  at  a  time,  when  a  particularly  rich  harvest,  when  large
quantities  of  petroliferous  products  and  of  worked  timber  were  stored  up.
Roumania  conscious  of  the  sacrifices  which  are  imposed  by  neutrality,  bore  them
with  patience,  preparing  herself  for  the  moment  which  was  not.  far  off,  when
she  would  be  able  to  fight  by  the  side  of  the  allies  for  the  common  cause.
The  time  which  passed  from  August  1914  till  August  1916,  was  for  Roumania ­
  not  a  period  of  quiet  and  fruitful  neutrali  ty,  as  it  was  for  other  countries
but  a  period  of  sacrifices,  of  anxiety,  and  of  trouble  in  the  midst  of  the  preparatory ­
  efforts,  for  the  last  sacrifice  which  Roumania  was  decided  to  offer  up  to
the  allies,  by  cooperating  with  them  in  the  war.
The  real  dangers  to  which  Roumania  exposed  herself,  by  her  decided  attitude ­
  against  the  Central  Powers,  which  were  thus  impeded  in  their  communications ­
  with  Turkey  and  Bulgaria,  for  the  supplies  which  they  needed  so
badly,  are  set  forth  by  our  enemies  themselves,  as  can  be  seen  from  the  the  document ­
  published  by  us  in  Annex  I.  Only  considerations  of  expediency,  and
causes  independent  on  the  will  of  our  enemies,  prevented  them  from  carrying
out  these  threats.
Being  given  the  geographical  situation  of  Roumania,  the  closing  of  the

1)  The  crown  counsel  of  August  3 r d  1914,  considers  that  there  is  no  »casus  foederis»  as  regards  the  Cen
tral  Powers*  and  decides  to  take  measures  for  the  defence  of  the  frontiers.  These  decisions  were  the  first  step  in
aid  of  the  allies.
2)  By  the  Convention  with  Russia,  Roumania  undertakes  to  observe  a  kindly  neutrality  towards  Bussiawhich
  had  as  a  conceuquence  to  assure  Russia’s  left  wing,  allowing  her  to  make  use  of  all  her  means  on  the  other
fronts  in  the  interest  of  her  other  allias.
            
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