39
that  the  Commission  of  reparations,  should  fix  Austria  and  Hungary’s  debt  for
reparations,  in  conformity  with  article  179  of  the  Treaty  of  Saint  Germain,  and
163  of  the  Treaty  of  Trianon,  mentioning  in  express  terms  that  whatever  be
the  result  at  which  the  Commission  of  reparations  should  arrive,  the  total  sum
to  be  distributed  between  the  Powers,  taking  part  in  the  reparations,  shall  not
be  below  the  sum  total  of  the  value  of  the  property  transfered  by  Austria  and
Hungary,  plus  6  milliard  marks  gold,  plus  Bulgaria’s  debt,  fixed  according  to
article  121  of  the  Treaty  of  Neuilly.
This  obligation  of  fixing  Austria  and  Hungary’s  debt,  has  not  been  carried  out
to  the  present  moment,  by  the  fact  that  Austria  by  the  decision  of  the  Commission
of  reparations  No.  2.400  of  February  20'",  1923,  and  Hungary  by  the  decision
of  the  Commission  of  reparations  of  December  1923,  obtained  an  ajournment
of  20  years,  beginning  from  that  moment,  of  their  obligation  of  paying  reparations ­
  (Annexes  30,  31,  33,  34).
Roumania  and  the  succeeding  States  to  Austro  Hungary  seeing  the  unanimity ­
  of  the  great  Powers  could  not  refuse  to  adhere  to  this  ajournment,  but
Roumania  realizing  to  what  an  extent  this  ajournment  would  rehect  on  her
situation,  declared  formally  that  she  adheres,  only  on  the  express  condition
that  the  obligations  proceeding  from  these  same  treaties  for  her,  should  also  be
suspended  likewise  for  a  similar  lapse  of  time  (Annex  31  and  34)  also  if  these  obligations ­
  are  not  carried  out  fully  in  accordance  with  the  clauses  of  the  sie<nt\,
Boumania’s  obligations  must  also  be  completely  cancelled.
As  we  see,  Austria  and  Hungary’s  reparations  were  meant,  in  the  intention
of  the  great  Powers,  on  one  hand  to  go  for  repairing  the  injustice  committed  in  the
distribution  of  the  German  reparations  by  the  Spa  Conference,  and  on  the  other
hand  to  compensate  the  other  obligations  deriving  for  the  succeeding  State
from  the  application  of  the  treaties.
These  reparations  put  off  for  such  a  long  time,  can  be  considered  by  us  as
inefficacious  for  the  restoration  of  Roumania,  so  that  all  hopes  and  expectations ­
  founded  on  them  are  useless,  they  create  however  for  us  a  situation,
which  we  are  obliged  to  take  into  consideration  on  account  of  the  obligations
which  are  laid  on  us,  and  enforced.
SECTION  11
Treaty  concluded  with  Bulgaria  and  its  application.  Treaty  of  Neuilly-Seine
  of  November  27'"  1919  and  the  Sofia  Protocol  of  March  21 s '  1923
Bv  article  121  of  the  Treaty  of  Neuilly  of  November  27'"  1923,  Bulgaria 1 )
is  obliged  to  pay  reparations  amounting  to  2.230.000.000  fmr.es  gold,  in  half
yearly  instalments,  the  first  beginning  on  July  I s '  1920.  The  payments  to  be  made
to  the  Commisfion  of  reparations,  by  the  interallied  Commission  in  Sofia,  provided ­
  by  article  130  of  the  said  treaty.  This  express  and  precise  obligation,  was
i)  The  Treaty  of  Neuilly  came  into  effect  for  Roumania  on  September  4-th  1920,  and  the  delays  begin  on
August  9-th  1920  (Annex  36).