!

32

tain  ourselves  on  this  ground,  when.  Roumania’s  quota  was  fixed  at  1  °/ 0 ,  and
when  in  Paris  at  the  ministers  of  Finance  Conference  of  January  14  1925  our
quota  was  fixed  at  1.10  °/ 0  (Annex  6,  art.  7)
The  question  of  the  German  reparation  till  the  London  Conference  of  July
August  1924,  was  as  follows.
On  May  1 st  1921  the  Commission  of  Reparations  fixed  the  quantum  of
the  German  debt  for  reparations  at  132  milliards  of  marks  gold,  payable  in
30  years,  a  quantum  which  under  the  terms  of  the  Treaty,  should  be  divided
between  the  allied  States  having  a  right  to  reparations,  »according  to  equity  and
the  rights  of  each«  As  we  proved  higher  up  the  Governments  of  Great  Britain,
France,  Belgium,  Italy  and  Portugal,  ever  since  July  16  1920,  by  the  Spa
agreement,  had  fixed  amongst  themselves,  and  for  the  others,  without  their
participation,  the  quotas  of  distribution,  reserving  ulteriorly  tor  Roumania
1  °/ 0  that  is  by  this,  distribution,  out  of  the  total  of  the  German  reparations  of
132  milliards  of  marks  gold,  Roumania  would  have  got  in  a  lapse  of  30  years
1  milliard  320  million  marks  gold.
The  fixing  of  Germany's  debt  at  132  milliards  of  marks  gold,  was  done  by
the  Commission  ot  reparations,  taking  into  consideration  her  possibilities  of  paying, ­
  and  not  the  total  damages  to  which  her  obligation  for  reparations  amounted. ­
  Rightly  or  wrongly,  this  debt  once  determined  should  have  been  divided
between  the  allies  in  proportion  of  the  losses  and  the  rights  of  each,  that  is  after
the  schedule  of  losses  suffered  by  each,  and  in  respect  of  which  Roumania  forwarded ­
  a  list  amounting  to  31.099.853.761  lei  gold,  a  list  which  was  not  contested ­
  by  the  Commission  of  Reparations.  (*)
Roumania  protested  continually  against  this  injustice  and  the  endeavours
she  made  to  right  it  are  to  be  seen  in  the  speech  delivered  by  Mr  Titulescu,
Minister  ofFinance  in  the  Bucarest  Chamber  of  Deputies  on  July  18  1921.
(Annex  50).
The  balance  of  Reparations  as  regards  Roumania  offer  the  Spaagrement
can  be  summed  up  as  follows.
ROUMANlVs  CLAIMS  IN  THE  GENERAL  REPARATIONS  FIXED  BY  THE  SPA  AGREMENT
According  to  ai  tide  I  —  1  °/ fi  of  the  German  reparations  (-)  1200  million
marks  gold.

(1)  The  schedule  presented  by  the  other  States  amount  to  the  following  figures.
England  60.049  million  francs  —  Italy  74.230  milion  francs
France  218.451  »  »  —  Servia  27.715  »  »
Belgium  36.587  »  »
(2)  The  reckonings  are  made  on  the  data  of  that  time  when  the  quota  of  6.5  0 / n  fixed  for  Roumania
Grece  and  Servia  by  article  1,  at  Spa  leaves  it  to  be  understood  in  an  officious  manner,  that  the  share  .df
the  Roumanian  State  would  be  1  0 / 0  and  or  30  o/ 0  of  the  second  half  of  the  reparations  of  Austria,  Hungary ­
  and  Bulgaria  See  the  memom  of  the  Roumanian  Government.  (Annex  51).
I  1