Dr. von Kühlmann, the German Foreign Secretary, who forced the treaty, in an address before the Berlin Chamber of Commerce May 24, explained the advantages which the peace of Bucharest had brought to Germany. He said: Two points must be taken into consideration: First, guaranteeing Rumanian agricultural and petroleum production as urgently necessary for the carrying on of the war by the Central Powers and for the transition period; and, secondly, the important rôle which Rumania has to fill in providing a thoroughfare to the East, especially as she dominates the lower course of the Danube. It is here that there comes into effect the International Danube Delta Committee, upon which only States on the banks of the Danube can be represented. Only if the States agree to it will the countries lying on the Black Sea be able to come into it. Therefore, it is especially important for the German seaboard traffic that we have been able to secure sites for dockyards. Along with the Danube, the importance of the Rumanian railways must be considered, especially the Bucharest-Czernavoda-Constanza line, over which Germany must have control. It has been agreed with Bulgaria that this railway to Constanza, which is to be made a free port with grain silos and petroleum tanks, is to be leased to a German company for ninety-nine years. The cable between Constantinople and Constanza played an important rôle before the war. This cable is to be developed to the utmost and secured from enemy control. Alluding to the agreement by which Germany had secured the Rumanian harvest of 1918-19, and the far-reaching option upon the entire Rumanian harvest for the next seven years, Dr. von Kühlmann said: One can look forward to the whole food question with a certain amount of confidence. * * * Formal war indemnities were not demanded by Germany, but the numerous privileges we secured are equivalent, in the opinion of experts, to anything which would have been yielded by indemnities. When, some day, the damage caused by the U-boat warfare shall have been made good by newly-built ships, the sea route from Constanza will regain its importance. Whether traffic on the Danube will be able to compete with it is a question of the distant future. For the present we shall have to rely on the Danube. MODEL PEACE TERMS Discussing this treaty on June 1, the Nachrichten of Munich declared: