90 
In this conference took part: 
Argentina, Belgium, Canada, Danemark The United States, France, Great 
Britain, Holland, Norway, Sweeden and Switzerland, and a total amount of 
credits which each state present could grant in 1920, the nature of the 
goods they could deliver and the guarantees to be demanded were dis 
cussed. The general lines of the programme to be realized and the mo 
de of entrusting its realization to a permanent international Committee 
composed by delegates of the States participating at this conference were agreed 
upon. This international Committee is called »Comission International du 
Relevement du Credit Economique“. The work of this committee isa humanita 
rian assistance as, as long as war credits exis'ed the aids received by the States 
were debited to their account. After that assistance was given for Treasury 
Bonds and this Committee had in view amongst other tilings the special bonds 
which we were to give for the new bonds creating a special bond called ”1920 
Relief Bonds--. What is more, the other countries for which the State of war 
was at an end after the armistice, wished to consolidate the advances received 
from the armistice to 1920 against the said new 1920 Relief Bonds--. 
In this Comm dee of Assistance the United States declined to take park 
urging the impossibility of granting loans outside the law * Liberty Act*. This 
is how we may explain that Roumania did not give America any 1920 Relief 
Bonds because considering that these advances had been granted for a State 
of war, confirmed by the fact of America’s having participated in the confe 
rence which had decided these advances, they had been granted in conformity 
with her laws and therefore could not be taken out of the State Treasury 
without a vote of congress so that the debt towards the United States maintains 
its characteristic Statute as it was sanctioned. 
Consequently Roumania for assistance purposes received the following 
sums, of which a great part was spent for helping and bringing home the 
prisoner s. 
From England £ 2.195.822. —5.—10 
From Australia £ 1.118.754.—11.—7 
From France fr. 445.804,98 
From Danemark danish cr. 132.387 
From Norway Norv. cr. 48.013, 
and £. 237.713 
From Sweeden Sw. cr. 8.757.997 
From Switzerland Sw. fr. 14.251285 
These relief bonds therefore have nothing to do with the debt which repre- 
ents the countervalue of the assistance given by Americafrom 1918 to 1920 
which was a war debt as we showed higher up, and the Relief Bonds to Ame 
rica have remaind what they were at the moment when the debt was contracted 
namely a debt under the liberty act, and a debt under the convention of July 9 th , 
1918, for selling the surplus of war materiel, that is, the same kind of debt as