3) Requisitions for maintaining the army of operation on the field of battle, a§ 
well as for recovering the requisitions made in our country for the same purpose. 
By Hungary’s giving up invoking this article, Roumania’s situation does 
not become better than before, so that the experts who drew up the first text of 
the report for the Conference of the Ministers of Finance in Paris, in January 
1925, made a mistake when they tried to justify that by this renouncement 
on the part of Hungary, the Spa quota had become satisfactory for Roumania. 
This interpretation does no move than place, once more in evidence the injustice 
of tlie quota atributed to Roumania at Spa, an injustice which even the experts 
of the foregoing report had to acknowledge. In fact the membres of the con 
ference did not adopt the arguments of that report. (Annex 59). 
SECTION II 
Common obligations deriving from the Treaties of Saint Germain 
and of Trianon 
Now we will go on to analyse the obligations of Roumania, deriving both 
from the Treaty of Saint Germain and from the Treaty of Trianon, obligations 
which are common to these two treaties. 
I. 
The exchange of the kronen circulating in the freed territories 
Article 206 of the Treaty with Austria and article 189 of the Treaty with 
Hungary, obliged Roumania to withdraw from circulation, and to change in 
to national money, the kronen issued by the Austro-Hungarian Bank, circula 
ting in the freed territories. 
This obligation was carried out to the letter with heavy sacrifices, consi 
dering Roumania’s exceptional situation at that moment. 
In fact at that time, the Roumanian frontiers towards Hungary and former 
Austria were open, and even at certain points not yet determined, so that the 
inflation, and the invasion of kronen in the Roumanian territory, which was 
then considered as the most solvent amongst the succeeding States, could not 
be hindered. This is how we explain the fact that Roumania found in her 
territory 8.716 million kronen (paper) for which she had to issue and put in 
circulation 4.353 million lei. 
The issue of national currency without security, for withdrawing the 
kronen, contributed not only to the increase of the internal debt, but also to the 
increase of inflation, which had the result of a disastrous fall of our currency, 
just at a critical moment when our commercial export balance was particularly 
in our disadvantage. 
In exchange of these 4.353 million kronen Roumania only recovered out 
of the liquidation of the Austro-Hungarian Bank : 
47.979.014.36 kr. gold. 
32.203.14.01 £ 
384.328.07 dolari. 
69.329 £ in 10 year bonds. 
1.195.200 Fr: fr: „ >,