"™" :  ""'if-~^^rr  -T.  ^sT-TJ6=

56

the  Hungarian  and  Austrian  reparations,  this  on  the  basis  of  the  very  clear
terms  oi  art.  208  ot  the  treaty  with  Austria  and  of  art  191  of  the  treaty  with
Hungary,  as  well  as  of  the  agreements  of  September  10"'  1919,  December  8 th
1919  and  March  11 th  1922.
1  he  Roumanian  Government,  from  the  veiy  begining  of  the  estimation  of
the  reparations  of  this  property  put  forth  this  point  of  view  before  the  Commission ­
  of  reparations,  on  this  occasion  we  had  to  observe  that  seeing  the  continual ­
  reductions  and  renunciations  ocurring  during  the  applications  of  the
treaties,  some  of  the  allied  States  seeing  their  claims  for  reparations  cut  down,
tried  to  recover  some  of  their  rights,  by  an  exaggerated  estimation  of  transferred
property  which  would  have  to  be  paid  by  other  allied  States.  This  gave  rise  to
the  abnormal  situation  noticed  by  the  Commission  of  Reparations  in  the  course
ot  these  estimations,  where  the  delegates  of  some  of  the  great  allied  States
struggled  for  the  increase  of  the  estimate  in  favor  of  ex-enemy  States.  In
tact,  some  ot  the  members  of  the  Commission  of  Reparations  of  the  same  State
explained  to  us  in  the  course  of  conversations  which  we  had  with  them  in
travelling  abroad,  the  interest  which  their  country  Jud  in  recovering  from  us
that  which  our  former  enemies  will  not  pay.  Against  such  an  interpretation  of
the  agreements,  Roumania  must  oppose  the  justice  of  her  cause  and  the  texts  of
treaties  and  agreements  which  have  been  concluded.

IV
ROUMANI.Vs  QUOTA  IN  AUSTRO-HUNGARy’s  PREWAR  PUBLIC  DEBT
Art.  203  of  the  treaty  with  Austria  and  art.  186  of  the  treaty  with  Hungary ­
  impose  on  the  succeeding  Stats  to  assume  their  part  in  the  Austrian  and
the  Hungarian  pre-war  public  debt  according  to  the  quotas  and  on  the  conditions ­
  determined  by  the  foregoing  articles  and  their  annexes.
1  he  provisions  ot  the  treaty  make  two  large  divisions  in  the  Austrian  and
Hungarian  pre-war  public  debt  that  is:
a)  Secured  debt  and  ;
h)  Unsecured  debt.
According  to  the  works  of  the  Commission  of  Reparations  the  quota  which
accrues  to  Roumania  for  her  share  of  the  Austrian  and  Hungarian  public  debt
is  summed  up  in  the  following  table:

Towards
Austria

Secured
debt

Towards
Hungary

11.825.800  kronen  poper  (capital)
303.370  german  marks  »
1.700.150  kronen  paper  (annuity)
71.941.574  french  francs  (capital)
38.575.000  kronen  paper  (capital)
67.252.500  kronen  gold  marks  french  fr.  an  £.  st.  (capita])
41.712.000  kronen  gold  (capital)
636.877  french  francs  (annuities  until  1965)
780.044  kronen  paper  (annuity)