Rouraania has received so far, out of the total amount of German repara 
tions, a value ol 38.951.353,99 marks gold, for the period before the applica 
tion of Dawe’s plan, whereas on the basis of Dawe’s plan for the first period, 
the monthly quota attributed to Roumania is about 580 thousand marks 
gold. 
On this occasion we must mention, that another mode of repairing the 
damages was by »prestalions and delivery in kind*, put into practice by those 
allies, having frontiers close to Germany, a means by which Roumania could 
not benefit, on account of her geographical position. Roumania could not 
profit at the proper moment by these advantages, both on acount of the diffi 
culties of transport, as well as for the reason that she was offered material of 
which she had no need, for instance dye stuff, when we were in need of rail 
way material. 
The manner in which the chapter of German reparations was applied, and 
the repercussion of this application in regard to Roumania, who was so dama 
ged by the war, constitutes an evident injustice which could not pass unobser 
ved, even by our great allies, who in the belief that they were righting matters 
allowed us a larger quota in the Austrian, Hungarian, Bulgarian and Turksh 
reparations. 
SECTION II 
Treaties concluded with Ausrria and Hungary and their application 
The Treaty of St. Germain en Laye Sept. 10th 1919, and the Treaty of Trianon 
of July 4th 1920, and the decisions of the Commission of reparations 
By article 177 and the following of part VKI of the Treaty of St. Germain 
of September 10th 1919 concluded with Austria (‘j, and by article 161 and the 
following, of part VIII of the Treaty of Trianon concluded with Hungary ( 2 ), the 
States are obliged to pay reparations, the quantum whereof ought to have been 
fixed by the Commission of reparations, beginning on May 1st 1921, and payable 
in a period of 30 years. 
Roumania is to participate in the reparations, with a quota which by the 
last agreement concluded on January 11 th , 1925, was fixed as follows: l,10°/ 0 on 
the first half and 20 °| 0 on the second half. 
Though the quota of distribution was fixed, still the quota of reparations 
to which it was to be applied, has not yet been determined. 
By article 11 of the arrangement concluded on March 11 th 1922, between 
Belgium, France, Great Britain, Italy and Japan (Annex 54; during the Confe 
rence of the Ministers of Finance of the Great Powers, in Paris, it was decided 
(!) The treaty of St. Germain came into effect for Roumania on September 4 th 1920, and the delays provided 
by the same, begin to run from Joly 1 6th 1920 (Annex 29...). 
( 2 ) The Treatry of Trianon, came into effect for Roumania on June 20th 1921, and the delays begin at the 
§ame date (Annex 32....).