REPORT
PRESENTED TO THE COUNCIL OF MINISTERS
THE POLICY OF ROUMANIA’S INTERALLIED DEBTS WITHIN THE SCOPE
OF THE REPARATION QUESTION.
Ptoumania, thanks to her proper efforts and sacrifices, was able to build up
her financial consolidation on solid foundations, in spite of all the difficulties
which the war and the making of her unity brought on her. We have called lo
mind both in the memoirs we formed in time (anexes 51, 55, 60) to be sent
abroad, in the statements on our different budgets since 1922 — as well as in
the reports presented to the Council of Ministers (in Feb. 1922 and June and
September 1923) all these difficulties and the road to be followed for over
coming them.
The last stage of this consolidation, was completed by the law voted in
June 1925 for extinguishing the issue of the National Bank on behalf of the State
and for proceeding on our monetary consolidation. So that we can say without
any fear that all that depends on us has been done; the balance of the budget
the inscription of the internal and external public debts amongst the ordinary
expenses of this budget, the consolidation of the external floating debt; and the
extinguishing in a short time of the internal floating debt left by the past defi
cient budgets and at last the assuring by our own proper means of exinguish-
hing the issue made by the State through the National Bank as we said above.
There are only two classes of our obligations which are not yet satisfied :
The requisition bonds (amounting) to about 900 million lei) and the internal
treasury bonds (amounting to about 500 million lei).
For the first, we entered in this year's budget an aproximatwe sum of
100 million lei, to make a beginning of paying off this internal war debt, where
as for the second we were able, thanks to the available sums at the
»Casa de Depuneri« to withdraw a value of nearly 200 million lei. The State
owing this sum to that institution.
she sum to which these two outstanding liabilities amount, seeing the
increase of our budgetary resources, allows us to hope that also this last in
ternal debt will be paid off.