The Archive · 1923

RUMANIA'S FINANCES

Rumania has what may be called a "bad Press." For months past, some of the London papers have been unusually outspoken in their comments about the business morals of Bukarest, and now tae French, who have hitherto held up the Rumanians to admiration as fellow Latins, are beginning to find out that, from the financial point of view, they leave something to be desired The Rumania Government, we are told, is taking up an entirely inacceptable attitude towards foreigners without distinction of nationality. Many Frenchmen, attracted by the agricultural and mineral oil re-urees of the country and believing the promises that were made to them, put capital and technical knowledge into various enterprises in Rumania and Transylvania. They are now cured of their illusions, and those of them who were foolish enough to credit the promises of Rumanian statesmen and the impartiality of Rumania law administration are faced with nothing less than robbery. Enterprises that were founded and kept going with French money are threatened extinction unless they accept the control of Rumanian banks, in which members of the Government are interested. Following the example of the Angora Turks, the Rumaniang are trying to make their foreign creditors accept de-redated currency in payment of interest on loans contracted before the war. The French Senate may decline, especially if the Government wishes it, to ratify the loan of Frs. 100, 000,000 to Rumania, recently voted by the Senate, but in that case the Rumaniacs will be unable to buy war material in France and, which is more important, will not be in a position to keep the Russians in check should they break loose. It will be no easy task for French diplomacy to retain the services of the Rumanian soldier and at the same time protect French capital against the rapacity of the Rumanian statesmen.

Text read from the printed page and cleaned; old type leaves the occasional error.

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