Reminiscences of the King of RoumaniaKremnitz, Mite
History
Reminiscences of the King of Roumania
Kremnitz, Mite
Carol I, King of Romania, 1839-1914; Eastern question (Balkan); Jews -- Romania; Romania -- History -- Charles I, 1866-1914
Prince Charles, however anxious he was at that time to escape from
his almost intolerable position in Roumania, felt that he could
not quit his adopted country until he had procured justice for
his people, and removed the slur which appeared to rest upon their
honesty.
Early in March 1871 M. Sturdza thus described the financial
situation of the Principalities. The expenditure, but not the
receipts, of the State had increased threefold during the last
thirteen years; the public debt, which in Prussia amounted to 2
francs a head, reached a total of 7 francs in Roumania, whilst
34,000,000 out of the 84,000,000 francs received had to be devoted
to the payment of interest, thus leaving only 50,000,000 available
for expenditure. It was, therefore, scarcely a matter for surprise
that the Chamber should openly testify to the general indignation
felt by the nation, when the fresh burden of the interest on the
railway bonds was thrust upon the resources of the country. In their
wrath, however, the deputies forgot to be just, and threw the whole
blame on Prince Charles. Not a single voice was raised to point out
that the Prince himself suffered most from the painful situation
to which dishonesty and carelessness had brought the railways. He
could not be expected to know in detail all the requirements of such
concessions. The only just reproach which could be made against
him was the unconditional confidence which he, in his youthful
enthusiasm, had placed in Strousberg and Ambronn, from a desire
to procure the benefits of the railway for his country as soon as
possible.
The attacks turned chiefly on the circumstance that Ambronn had been
for a long time in the service of the Prince of Hohenzollern, though
this was rather a reason for excusing the Prince, who was surely
justified in employing a man whose honest administration had already
gained the confidence of his father.
As a way out of the difficulty Prince Charles thought that the State
should pay the January coupon and sue Strousberg for the amount,
in accordance with paragraph 7 of the concession. Unfortunately
the Treasury was empty, the Chamber would never consent to such a
measure, and to raise a loan was out of the question.
To crown the disaster an official intimation was received from
the Prussian Government that the coupon due must be paid by the
Roumanian State, as the bonds were only placed on the market owing
to the confidence inspired in the Roumanian State guarantee.
Public-domain text, read in full here on John Shaqi.
Reviews
Reviews
No reviews yet
Be the first to share your thoughts on this work.
Elsewhere in the archive
Join the Discussion
Join the discussion
Sign in to leave a comment or review.
Sign InorCreate an account