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

The  destruction  of  this  industry  was  so  complete,  that  even  after  5  years
since  the  conclusion  of  peace,  all  the  wells  have  not  been  able  to  be  put  into
working  order,  and  only  just  this  year,  the  pre-war  production  has  been  arrived ­
  at,  by  heavy  sacrifices,  as  Roumania  has  not  yet  received  any  thing  for
these  losses.
Besides  this,  Roumania  suffered  also  other  damages,  on  account,of  the
interest  the  allies  hal  to  prevent,  by  all  possible  means  the  enemy  from  getting
supplies.
These  damages  besides  those  provoked  by  actual  war  operations,  consisted
in  destruction  of  bridges,  technical  works,  stations,  railways,  buildings,  deposits, ­
  and  factories  which  were  unmounted,  and  destroyed  by  order,  even  in
localities  which  were  outside  the  fighting  zone.
We  will  quote  for  instance  the  destruction  of  a  part  of  the  bridges  across  the
Danube  at  Cerna-Voda,  2 )  the  unmounting  and  the  destruction  of  factories  in
Rraila  and  Galatz,  the  destruction  of  agricultural  plant  in  Muntenia  and  Oltenia,
Several  times  in  the  carrying  out  of  these  orders,  excesses  were  committed,
the  Russian  armies  destroying  more  than  was  absolutely  necessary.
The  value  of  these  damages  and  destructions  stands  out  still  more  conspicuously ­
  if  we  consider  that  two  thirds  of  the  territory  of  Roumania  was  invaded ­
  by  fighting,  and  that  the  whole  country  and  more  especially  Dobrogea
was  defended  inch  by  inch  by  battles  spreading  ruin  all  around.
In  these  circumstances  the  damages  caused  by  the  war  spread  over  the
whole  area  of  the  country,  for  a  front  of  battle  was  not  localized,  till  the  whole
terri lorry  occupied  by  the  enemy,  was  completely  destroyed  by  retreating  battles.
The  invaded  territory  remained  2  years  a  prey  to  the  most  ruthless  speculation ­
  of  the  enemy,  who  got  its  supplies  from  here,  by  the  most  abusive  and
unfair  means,  till  it  had  completely  exhausted  every  thing.
One  of  the  means  of  despoiling  the  population  of  the  invaded  territories
was  the  issue  of  nBanca  Generala"  notes,  by  the  hostile  administration,  by
which  under  the  false  appearance  of  a  real  payment,  goods  to  a  value  of
3 )  2.173.000.000  lei  notes  issued,  were  carried  out  of  the  country.
vices  to  the  Entente,  bU  has  din  inished  in  a  considerable  meastre,  the  supply  of  our  arnry  and  of  the  country
in  oil.  The  lack  of  oil,  of  which  Germany  suffered,  must  be  partly  traced  to  this  fact.  The  military  administration
invited  into  the  country,  men  web  up  m  the  peholeum  incusti  y  m  Roumania,  and  began  actively  to  fulfil  its
second  very  important  task,  which  consisted  in  reestablishing  the  oil  production  en  the  one  hand  by  puttling
right  the  wells  that  had  been  fil  ed  up,  ai  d  on  the  other  hand  by  operating  new  drillings,  and  restoring  the  refi
neries  so  as  to  enable  us  to  take  up  the  work.  The  oil  production  rose,  but  slowly.
i)  Roumanian  oil  pioduclion  from  1912  till  today  bar  been  in  Ions  as  follows:
1913  1.885.225  1921  1.165.765

1917  517.494  1922  1.327.915
1919  920.437  1923  1.571.302
1920  1.168.914  1924  1.860.471

The  bridge  across  the  Danube  at  Cerna-Voda  was  destroyed  at  the  express  request  of  Gereral  Berthelot,
  made  in  the  name  of  the  afiies  (Annex  11)
3 )  The  sum  of  21  73  milieus,  represents,  according  to  the  registers  w  hich  were  found,  the  value  of  the
notes  put  into  circulation  by  the  armies  of  occupation.  Out  of  this  issue  only  1453  millions  were  changed,  the  rest
representing  the  notes  which  were  held  by  the  Roumanian  population  who  did  not  change  them  in  time,  or  by
the  notes  taken  by  the  the  armies  of  occupation  when  they  retreated.
            
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