The expense of the many reforms initiated by the Prince also contributed to the chronic want of money. For instance, a report by M. Jepureanu on June 9, 1874, showed the existence of a floating debt of fifty-seven million francs, which was out of all proportion to the resources of an agricultural country, where a failure of the crops occurred about once in six years. It was further stated that of late years, in spite of all the new taxation, the expenditure had always exceeded the receipts. _To_ PRINCE CHARLES ANTHONY, _January 26th, 1875_. "Only a few days ago I was confidently looking to the immediate future, and hoped that the Roumanian railway system, which I had achieved for the country after such severe struggles, would soon be opened for traffic. I believed that this intolerable affair, which has cost me several years of my life, was finally settled, and looked forward to enjoying the fruits of my labour. But no! To-day the railways are again the disturbing element. After great effort I had achieved the stability and peace so necessary for the development of the country: domestic affairs had become consolidated, and abroad we enjoyed respect and confidence. All this may again be at stake. "... The Berlin Company must raise a loan of seventy-five million francs to pay the debts incurred in construction; in so doing they want our support, and ask for a law giving this loan preferential rights in the annuities. This is, of course, out of the question, as the former creditors must always have the first claim.... We do not conceal the seriousness of the situation, the more so since the German Government urgently requests us to give way to the entreaties of the company, and so prevent a catastrophe which would principally be felt by the shareholders. In the event of our inability to regulate this affair the German Government would in future be compelled to withhold the exercise of its benevolent interest in Roumania! "This threat is very serious, and we foresee its evil consequences." _To_ PRINCE BISMARCK. "For several weeks we have been exclusively occupied with the difficulties which the new loan for the completion of our railway system causes both here and in Berlin. Animated with a lively wish to bring this important affair to a satisfactory conclusion, my Government has commissioned the Minister of Public Works, M. Th. Rosetti, to proceed to Berlin, and to place himself in personal communication with the railway company.