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  third  of  the  territory  which  had  remained  Iree  served  as  front  of  battle
for  the  army  which  had  retreated  into  Moldavia,  as  a  refuge  for  the  evacuated
population,  and  some  times  as  a  place  of  destruction  for  the  army  of  the  Eastern ­
  ally,  which  had  deserted  from  its  duty.
A  consequence  of  the  hostile  invasion  was  also  the  necessity  of  placing  in  a
safe  place,  the  Treasure  and  the  public  securities,  and  for  that  object,  at  the
demand  and  under  the  guarantee  of  the  allies,  the  Roumanian  Treasure,  consisting ­
  of  gold  for  the  security  of  the  National  Bank  notes,  of  the  deposits  of
the  Banks,  of  the  Deposits  Bank,  of  the  jewels  of  the  Royal  family  and  of  private ­
  persons,  of  public  and  private  art  collections,  of  private  goods  etc.  she
whole  of  this  Treasure  and  all  these  valuables,  are  retained  in  Rusia.  (Annex  15).
Roumania  exhausted  materially,  numberiug  800.000  dead  on  the  field  of
battle,  or  on  the  roads  to  refuge-that  is  10°/ 0  out  of  her  whole  population  —
abandoned  by  the  ally  who  was  fighting  on  her  territory,  completely  cut  off,  by  her
geographical  situation,  from  her  Western  allies,  is  obliged,  having  also  the  implicit ­
  as-ent  of  the  allies  to  remain  in  an  expectant  attitude,  when  theaimistice
of  November  16 l "  1917  and  the  treaty  o£,Bucarest  of  April  18'\  was  forced  on  her.
This  latter  treaty  forced  on  her  by  the  enemy,  not  however  ratified  by  her,
provoked  for  Roumania  new  andh^avy  sacrifices,  whose  amount  we  will  expose
in  another  chapter.
SECTION  111
The  continuations  of  the  war  (1918—1920)
The  lapse  of  time  since  April  1918,  was  not  the  least  painful  for  Roumania, ­
  for  while  not  forgetting  for  a  moment  her  final  aim  —  of  maintaining
her  army  and  her  existence  —in  order  to  be  able,  at  the  right  moment,  to
throw  herself  again  into  the  fray  by  the  side  of  the  allies,  which  she  did  not
hesitate  to  do  in  October  1918,  when  she  enters  the  fray  afresh,  chases  the
enemy  off  her  territory  and  takes  part  in  the  conclusion  of  the  general  armistice ­
  in  November  1918.
For  Roumania  the  war  was  not  closed  by  this  armistice,  for  in  the  spring
of  the  year  1919,  when  the  belligerant  parties  were  proceeding  to  sign  the
Peace,  Roumania  had  to  take  up  the  task  of  establishing  order  in  Hungary,
threatened  by  the  anarchical  revolution  of  her  armies  led  by  Bela-Kuhn.  The
war  Roumania  had  to  wage  on  this  occasion  was  merely  the  continuation  of
the  great  war,  whose  latest  events  had  taken  place  in  the  near  East.  The
Roumanian  State  therefore  continues  the  period  of  hostilities,  to  defend  peace
which  was  being  threatened.
This  period  during  which  the  allies  demobilize  their  troops,  and  begin  to
heal  the  wounds  of  the  w  ar,  is  made  use  of  by  Roumania  for  the  common  cause,
bringing  about  the  pacification  of  Hungary,  the  succouring  of  Tcheko-Slovakia
and  Poland,  both  threatened  in  the  first  period  of  their  constitution  by  a  hostile
invasion  of  the  communist  troops.
            
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