Aspects of the economic relations between Romania and (1879-1914)

Annales d’Université “Valahia” Târgovi te, Section d’Archéologie et d’Histoire, Tome XI, Numéro 2, 2009, p. 137-145 ISSN 1584-1855

Aspects of the economic relations between Romania and Italy (1879-1914)

Laura Oncescu*

* PhD candidate, “Valahia” University of Târgovi te, Faculty of Humanities, Department of History, Str. Lt. Stancu Ion, no. 34-36A, Târgovi te, 130105, Dâmbovi Ńa County, Romania. E-mail: [email protected]

Abstract: Aspects of the economic relations between Romania and Italy (1879-1914). By the end of the 19 th century, Italy showed an increased interest in establishing more and more fruitful economic relations with Romania. The continually growing Italian population represented an important market for the Romanian agricultural products. The development of the car industry and the marine industry in Italy required a massive acquisition of Romanian oil products. On the other hand, Romania imported from Italy textile products, vegetal oil, rice etc. A large number of Italian workers were to be found in the industry of the forest exploitations in the southern and eastern Carpathians. The birth of the Society for the Romanian Forest Exploitations was the very initiative of an Italian bank. By the beginning of the 20 th century, Italy and Romania witness a real impetus in their economic relations, especially because of the presence of the Italian navy on the Danube and the Black Sea. The considerable inflow of foreign capital, until the First World War broke up, led to the internationalization of the Romanian oil, a fact highlighted as well by a statistics carried out by Nicolae Xenopol, which situated Italy on the fifth place among eight states concerning the capital investment in the Romanian oil industry.

Key words : Romanian-Italian economic relations; import-export; foreign capital; trade companies; forest industry.

The period comprised between the last two connections. The foreign markets for agricultural decennia of the 19 th century and the first years of the products, the foreign providers of manufactured 20 th century had a determining role in the social and goods both in industry and for the population, the economic development of Romania. The constitution foreign capital became indispensable for the health of of the modern Romanian state, the conquest of the the Romanian economy (K. Hitchins, 1996; Gh. Romanian state independence, the intensification of Platon, 2003). the fight for their rights of the from the Holding the state power during the first provinces under foreign domination, created the decennium after the conquest of the independence, necessary framework for the modernization of the the liberals, in favor of protecting the Romanian Romanian society. Many of the features of an industry by encouraging the local capital, had a underdeveloped country persisted; yet, in many significant contribution to the economic development domains, Romania moved towards its modern form: of Romania. The protectionist legislation which the population grew and acquired a marked urban encouraged the local industry had effects which were character, the industrialization gained impetus and the felt as well after 1888, as in various branches new infrastructure of an advanced economy began to take enterprises appeared or old ones developed shape. (P. Câncea, 1974). The relations between Romania and Europe P. S. Aurelian, one of the promoters of became more complex, because the modernization of protectionism and one of the greatest Romanian the country depended extensively on its external economists during the second half of the 19 th century

137 Tome XI, Numéro 2, 2009 Laura Oncescu showed, in his studies, that all the industrial countries the context of the situation of our country at the were at first protectionist, that Bismarck and Wilhelm interference of the spheres of interest of some great II applied the policy of protectionism successfully, expansionist powers, such as Austria-Hungary and just as Italy did after 1859, that the United States, Russia, got it closer to the block of the Central applying the most rigorous protectionist regime, Powers, a fact which occasioned as well a beside the unprecedented development of its national collaboration with the signatory states of this treaty industry, increased its custom tax revenues from 25 (R. Dinu, 2004). million dollars, in 1825, to 214 million dollars, in Pursuing the increase of its own influence in 1883, while England, the champion of the free the , Italy supported Romania’s orientation exchange policy, taxed, in 1887, the manufactured towards the block of the and this goods with 12-20% (R. D. Vlad, 1994). thing facilitated as well a good development of the Because the modernization imposed, as we relations between these two states, not only politically have mentioned, an adaptation to the requests and the but also economically and culturally (Gh. N. C ăzan, rhythm of the developed Europe, the Romanian . R. Zöner, 1979; A. Tambora, 1977). political elite saw itself forced to analyze the context Acknowledging the independence of of Romania’s integration in the concert of the Romania on December 6, 1879 and appointing count European states. These people, mostly graduates of Tornielli as plenipotentiary minister to , the West European higher education, understood that Italy proved that it preserved its good relations with the only way for the Romanians was the development our country, relations that wanted a more intense “at the same pace as Europe” (L. N ăstas ă, 1998, development in economy as well, in the context of p. 172-179). Italy’s unification and of the obtaining of Romania’s This fact is confirmed by a declaration made independence. by Ion C. Br ătianu in the Assembly of Deputies, on Just like Romania, Italy went through a more January 10/22, 1861: „Gentlemen, I have been abroad marked industrialization process only during the last and talked to the capitalists, I even negotiated with two decennia of the 19 th century, when the state them, and they told me that unless we have initiated a few measures meant to encourage the institutions to guarantee their transactions, they will productive investments. The first protectionist not come to discharge their capitals in here...” customs tax, adopted in 1878, assured favorable (Gh, Platon, 2003, p. 32). development conditions for the textile and car In his turn, tefan Zeletin, the theoretician of industry. The heavy industry also went through a the Romanian neoliberalism, mentioned that: “The period of impetus thanks to the state subvention for invasion of capitalism in Romania increased the the building of steel works and the development of circulation of goods up to the level of modern life and the chemical industry and naval constructions modernization concerned the entire society” (I. Bulei, industry (A. Tambora, 1977). 2004, p. 43). The extension of the protectionist tax to the The foreign capital had a crucial role in the branches of agriculture (in the context of the development of the Romanian economy. Penetrating agricultural crisis initiated in 1880, when Italy in Romania in large quantities, mainly after the imported large quantities of wheat from the United independence war, this capital was invested in States and Russia, determining a decrease of the price industry, banks, commerce, insurances. In industry, of wheat), turned the Italian wool and cotton into the the foreign capital had become predominant in gas most wanted products on the international market (N. and electricity (95.5%), oil (94%), sugar (94%), Păun, L. Bathory, C. Ivane , 1986; G. Procacci, metallurgy (74%), chemical industry (71.3%) and 1975). wood industry (69%). The signing of the Romanian – Austro- The foreign capital represented, at the same Hungarian convention (1875) determined a series of time, a massive presence in the banking system after states, of which one was Italy, to become interested in 1880, when the national system of credit institutions “establishing the bases of a similar convention”. The became totally functional. The adhesion of Romania to the Triple French consul in Gala Ńi wrote at the time that the Alliance (N. Ciachir, 1996; N. Ciachir, Gh. Bercan, Italian government was going to obtain the 1984; Gh. N. C ăzan, . R. Zöner, 1979), in 1883, in modification, in favor of its export commerce, of the

Tome XI, Numéro 2, 2009 138 Aspects of the economic relations between Romania and Italy (1879-1914)

customs taxes adopted by Vienna and Bucharest 17/29, 1886, if one of the countries with which (C. Bu e, 1976). Romania concluded treaties were to accept customs The secretary general of the Italian Minister tax variations before the expiry date of these ones, of Foreign Affairs, Carlo Alberto Maffei sends, on this treatment (these variations) would affect as well December 25, 1879, a telegraph to Tornielli, the the agreements with Italy...” (*nr. 36, aug. 31/sept. plenipotentiary minister of Italy to Bucharest, 12, p. 328). concerning the possibility of obtaining a special Of the above-mentioned countries, Romania economic treatment for the Italians living in had excedentary balances with England (in 1882 and Romania: “Based on article 44 of the Treaty of 1892), Belgium (in 1892, 1902 and 1912), France (in Berlin, Austria-Hungary did so as to make accepted 1882 and 1912) and throughout the years with Italy in Bucharest its interpretation concerning the (V. Jinga, 1975; Gh. Platon, 2003). conclusion of the conclusion of the commercial treaty So, Italy proved to be one of the main with Romania, by means of which the “sudditos” of “clients” and providers of Romania. Its continually the Empire, regardless of their religion, were allowed increasing population was to become one of the main to acquire stable goods in the Principalities... we have beneficiaries of the Romanian agricultural products. the firm conviction that the Romanian government The development of the Italian car industry and of the will not exclude the Italian “sudditos” from the same Italian marine, which assured the transport of benefit...” (R. Dinu, I. Bulei, 2001, p. 62-63). merchandises, required the massive buying of The adoption by the liberal government of a Romanian oil products. In reply, the Italian textile protectionist customs tax in 1886, in order to articles, through their special quality and thanks to encourage the local industry and not to allow the their convenient price, were more and more the first foreign industrial products coming from Austria- choice of the Romanian consumers Hungary or Germany to slow down any attempt of (G. D. Cioriceanu, 1928). creation of a Romanian industry, had for a main Through its geographic setting, Italy was one consequence a long customs war with Austria- of the most important clients of the Romanian cereals. Hungary, during the period 1886-1893 (Gh. N. For Romania, the Italian market for cereals was one Căzan, 1979; N. P. Arcadian, 1936; I. Stanciu, of the most significant western consumer markets, I. Oncescu, 2004). especially as Italy’s geographic and demographic The most important consequence of this conditions always obliged the Italian state to buy customs war was the fact that the Romanian export important quantities of cereals. The Romanian cereals shifted its focus from the Austrian-Hungarian market meant for export were directed from the lordly houses to the British, Belgian, French and Italian one (G. D. to the ports situated on the Danube River and to Cioriceanu, 1928; V. Jinga, 1975; Gh. N. C ăzan, Constan Ńa or to the frontier points towards the .R. Zöner, 1979). Carpathians (V. Jinga, 1975). In a report on the external commerce of In the development of this commerce, an Romania, sent in June 1884, by count Tornielli important role was held by the ports situated on the Brusati di Vergano, the Italian plenipotentiary western coast of the Black Sea: Sulina, Constan Ńa, minister to Bucharest, to the count of Robilant, Mangalia, Varna and Burgas and on the border of the minister of foreign affairs of Italy, was mentioned Danube: Gala Ńi and Br ăila. So, in 1866 and 1867, the that: “the system of conventional custom taxes export of cereals to Italy, through Gala Ńi port, reached introduced by Romania through the customs-related important values: respectively 2,655,738 lei and political agreements concluded with Austria-Hungary 3,501,148 lei; however, just a decennium later, Italy in 1875 was extended later on within the treaties exported in Romania, through Gala Ńi, “especially rice concluded as well with other countries such as and other general items, unevenly distributed” England, Belgium, Germany, Italy. According to an 1878 law, this conventional treatment was applied as (C. Bu e, 1976; D. Bu ă , 2002). well to other states, such as Turkey and France, which In 1900, through Constan Ńa port as well were were not related through a special treaty with exported large quantities of cereals, but, beginning Romania. And according to the new Romanian with 1906, when the foreign financers focused their customs tax, which entered into force on July 1/12, investments especially towards the extractive industry 1885 and which is part of the customs law of May and the raw-materials processing industry, oil was to

139 Tome XI, Numéro 2, 2009 Laura Oncescu acquire primacy, representing 90% of the port’s transport on ship between Gala Ńi and Genoa, in the export (D. Bu ă , 1996). direction Gala Ńi-Genoa-Brünner (Lagerhäuser) cost The 1895 law of the mines gave freedom of 17.65 francs, while the transport by railroad Genova- exploitation to the international trusts in Romania. Pino cost 24.85 francs. This represented a The weight of the foreign capital increased concurrence for the transport on land through Austria- significantly during the period 1895-1903 and Hungary. At the same time, instead of Genoa, Venice spectacularly during 1904-1915. Increasingly more could represent a stage (place of call). However, the companies based on shares appeared, and the facilities created by the railroad service could exploited surface grew. Until the beginning of the 20 th prejudice the Italian commerce by sea. That could century, most of the capital invested in oil extraction represent a concurrence for the Italian lines through and processing was English, beginning with 1905 the the organization of a transport via Triest- Arleberg- primacy went to the German capital (64.32%), lake of Constan Ńa in the traffic with Romanshorn followed by the Anglo-Hollandaise (8.75%), Italian towards Turnu-Severin (on the Danube). The union (4.98%), Franco-Belgian (4.31%) and American between the Austrian-Hungarian Lloyd on the capital (3.32%) (D. Bu ă , 2004). Danube and the Austrian-Hungarian railroad would In 1900, out of 476 ships that entered the prejudice Italy. above-mentioned port, the majority bore the “The Italian ports cannot hope to overcome Romanian colors (134), being followed in number by the concurrence of their happiest rivals in the the Austrian (130), the Italian (84), and the English Mediterranean and the , if the railroads ones (40). In point of displacement, the first place was and the national navigation refuse to bring together held by Austria-Hungary (156,688 t), followed by their interests. Today we need to win over the Italy (135,387 t). In 1901, the number of ships quantity of the traffic: we need to know to draw increased to 488, but this time the supremacy was towards us the transit of the other countries. What it held by Italy, with 155,723 tons (D. Bu ă , 1996). (the Romanian government) did with good result in The port of Sulina had a special importance order to activate the export of cattle by sea can be for the import/export of foreign or Romanian goods. done with a sure arbitration for itself to reactivate Here a series of foreign trading companies such as cereal transport in the same way. The Italians, “Messageries Maritimes” of France, “Deutsche regaining in this traffic the share they used to held Levant Linie” of Germany, “Westcott” of Belgium, some time ago, will prove that in our country has not “Johston” of Great Britain and among many others disappeared the conception of the trade policy “Florio-Rubattino” of Italy had their headquarters (G. conceived ever since the first crossing of the Alps Procacci, 1975; G. D. Cioriceanu, 1928; L. Taft ă, was planned, meant to direct towards Genoa the 1999). trades of Switzerland and of Germany” (*nr. 38, sept. Consequently, the market that determined the 14/26, p. 345) . prices of the Romanian cereals moved, successively, During the period of the years 1880-1883, from Constantinople to Trieste and from there to the Italian import in Romania amounted to 346,779 London and other great occidental and transoceanic lei, among the imported products, along with the ports. The cereals from Romania were sold in sunflower oil and other vegetal oils, one of the main Marseille, Hamburg, Rotterdam, Anvers, places being occupied by the Italian rice, sold by the Copenhagen, Athens, Trieste or Genoa, according to merchants of Genoa as “riso gemino”(true rice) the fluctuations of the respective prices in the largest (T. B. di Vergano, 1885). port of those times, London (V. Jinga, 1975). According to the treaty concluded with Italy, Along with the cereals were exported, though and which expired on March 13, 1891, Romania also in a less significant quantity, oil products, animals, imported from the peninsula other products such as wood and salt. objects made of colored glass (false corals, black and According to a report sent by the consul of colored beads) (T. B. di Vergano, 1885). Switzerland in Bucharest, de taub, to Tornielli The chargé d’affairs to Bucharest, De Nitto, Brusati di Vergano, plenipotentiary minister of Italy sends, on February 15, 1891, to Di Rudini, president in Bucharest, the fluvial maritime way via Genoa, of the Council and Minister of Foreign Affairs, a continued with the railroad via Gottard, was cheaper report concerning the Romanian-Italian trade treaty. for the transport of the Romanian cereals. The However, the law was just in the stage of project,

Tome XI, Numéro 2, 2009 140 Aspects of the economic relations between Romania and Italy (1879-1914) because a trade convention between these two states Voineasa, in Vâlcea County, was authorized, in 1905, was to be signed only on December 23, 1892 to introduce in Romania, through Câineni, 2000 (R. Dinu, I. Bulei, 2001). workers from Italy and from Austria-Hungary. The On the other hand, the industrialization company Göetz-Negoiu hired, for the forest process led to the appearance of a natural exploitations of Buz ău County, in 1908, 520 workers, phenomenon, that of the migration of the labor force of which 103 were Italians (E. Negru Ńi, 1986). from Western Europe to Romania. An especially One of the most important companies for the important role in the determination of this migration exploitation of the Romanian forests was created by process of the labor force from Italy to Romania was the Commercial Bank of Milan, along with the banks: held by the Italian-Romanian Chamber of Commerce Louis Dreyfus et Co , Allgemeine Verkehrsbank (J. Antohi, 1921). So, a series of new constructions Vienna, the Italian Banking Company - Milan, which were granted to foreign companies of German, gave birth to the banking labor union Rumänische Austrian, French or Italian origin. Among the Italian Forstindustrie A.G. with its headquarters in Geneva. companies the most outstanding are: The Italian- This labor union bought the Romanian shares of Romanian Oil Company (“ Societatea petrolier ă Italo- “Union” from Bucharest and the shares of the firm Român ă”) , The Road-Building Company of Venice “Union Forstindustrie A.G. Budapest”, which held (“ Societatea vene Ńian ă de construc Ńie a oselelor ”) forests in the Szecklers’ region (Secuime) from and others. and in Bucovina. In 1911, this labor The German company Stroussberg, to which union also concluded with the Romanian state a the Romanian state granted the building of the main contract for the exploitation of state forests. In the railroad of the country, Roman-Vârciorova, drew forest exploitations from Transylvania was co- among its workers a significant number of Italians interested as well the Italian financial group (E. Negru Ńi, 1986). Feltrinelli, share holder of the Credito Italiano Bank. During a decennium, beginning with 1869 In 1906, it created “ Società in Azioni Italo-Ungherese until 1880, were achieved about 1,400 km of railroad per Industria Forestale ”, with exploitations in in Romania, and the contribution of the Italian Tălmaciu, Sibiu County. workers was very important. In October 1892, the In order to coordinate the selling of this minister of Italy to Bucharest, the marquis Francesco wood on the SE European market, all the companies Curtopassi, wrote: “everywhere, where there is work situated under the control of the Italian, Austrian, to do, such as the construction of railroads, bridges, German and Hungarian capital created a cartel of the canals, and, in general, earthwork, we can be sure that softwood lumber exporters. Such was, in 1910, the we will find there a large number of Italian workers” cartel “Accordo”, which included the most important (E. Negru Ńi, 1986, p. 228) . firms from Austria-Hungary and Romania, namely A large number of Italian workers were the companies: Göetz, Tarc ău, Union, employed as well in the forest exploitations from our Siebenbürgische Waldindustrie, Lotru, Beszterce- country. Coming from the Italian Tirol, from the Naszóder Holzindustrie, Bayersdorf &Biach, Alfalú region of the Dolomite Alps, or from the NE of the Holzindustrie, Tâ iŃa, Marnero, Carpa Ńii, Standard Frioul province, territories that were still in the and whose purpose was to reunite the efforts of all the possession of Austria-Hungary, but also from the firms selling wood through the ports of Dalmatia, in region of Venice, they were employed at the forest the area of the Lower Danube and in the Black Sea exploitations situated on the Southern and Eastern area (N. P ăun, L. Bathory, C. Ivane , 1986). slope of the Carpathians. Among the great companies Concerning the number of the Italian specialized in forest exploitation there was as well a workers in the Romanian agriculture, it was very low. mixed one, a Romanian-Italian one, with about The Italians preferred to buy lands for agriculture 10,000 employees, of which 2000 were from rather than work them for other landowners. Such is Transylvania, 1.000 from Bucovina, 600 from Galicia the case of 70 families of Italian emigrants, who and 1000 Italians from the region of Lombardia- Venice (Udine, Treviso, Belluno, Venice) settled near Ia i, in Corne ti and who managed, in (E. NegruŃi, 1986). 1890, by means of the Italian consulate, to get 1080 The anonymous company “Oltul”, which ha of land from the Romanian state, in Cataloi exploited the forest from the Basin of Brezoi, Malaia, village, Tulcea County (E. Negru Ńi, 1986).

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Interesting is, from this point of view, the between 1900-1910 the value of 40,600,000 lei, that report sent, on August 14, 1888, by Pasquale Corte, is 9.42% of the total of exported goods, and then the consul of Italy in Gala Ńi during the period 1888- between 1911-1914 they increased to 62,000,000, 1890, to Crispi, president of the Council and Minister which represented a percentage of 10.30%. Only the of Foreign Affairs ad interim of Italy, by means of wheat represented 34,000,000 lei of the total value of which was analyzed the very situation of the Italians the first period, while during the second stage, this of Corne ti. So, he mentioned that “in order to value rose to 58,500,000 lei. However, according to prevent an invasion and a moral and economic the Italian statistics, these values were clearly higher. absorption, (the Romanian government) adopted a So, during the period 1901-1910, the value was series of measures, of which the one according to 59,000,000 lei, and between 1911 and 1914, it which foreigners cannot obtain public goods in reached 113,500,000 lei (G. D. Cioriceanu, 1928). Romania, and cannot exert the profession of stock The Romanian wood exported in Italy brokers... king Carol, not forgetting his origin, reached, between 1901 and 1910, the value of favored especially the Germans… The measure that 3,000,000 lei, while oil and oil products found in Italy denies the foreigners the right to own rural goods, got one of their best markets. the actual Italian owners in the position of either The Romanian imports from Italy grew selling their goods or giving up their Italian rapidly as well: from 19,600,000 lei during the period citizenship. This thing is extremely prejudicial for the 1901-1910 to 25,800,000 during 1911-1914. The Italian colonies and the inhabitants of our agricultural Italian textile products, so appreciated on the colony from Corne ti are not to be ignored, as the Romanian market, represented a peak of the imports, colony is all made up of Italians, to whom a quite worth 10.000.000 lei during 1901-1910, and their significant quantity of land had been promised, in value increased between 1911 and 1914 to exchange (for the work) they have accomplished for 19,600,000 lei. The Italian silks were a concurrent for more than ten years” (R. Dinu, I. Bulei, 2001, similar products coming from other countries. The p. 237-239) . colonial goods, the wine and the fruit of the So, in a few decennia, Romania became the Mediterranean countries occupied a secondary place, richest country of Europe in point of natural with a value of 1,500,000 lei during 1901-1914 resources, and these resources were waiting for (G. D. Cioriceanu, 1928). foreign investors in order to be well valorized. The law of the mines, voted by the Italy, which had turned from a predominantly conservative government since 1895, allowed the agrarian country, as it still was towards the end of the penetration of investments of foreign capital in the 19 th century, into an agrarian-industrial one (among Romanian oil industry, during a period when the lack the industries that contributed to the first Italian of local capital was badly felt, and the demand for oil industrial boom being the siderurgy and the car products was beginning to grow (I. Stanciu, industry, which acquired rapidly the dimensions of I. Oncescu, 2004). true trusts) (G. Procacci, 1975), knew how to be well So, after 1904, the great foreign capitals got represented, understanding that it does not need to involved without any hesitation in the exploitation of take hold of the natural resources of the Romanian the oil fields of Romania, and the consequence was state, but rather, on the contrary, be a good the birth of the first great industry of Romania before collaborator of Romania. An example can be the the First World War (I. Stanciu, I. Oncescu, 2004). creation of the Italian Commercial Bank, which in The massive influx of foreign capital until Romania bore the name of The Italian and Romanian the beginning of the First World War led to the Bank (Banca Italian ă i Român ă), an institution that internationalization of the Romanian oil industry. So, during a trimester of functioning carried out in a classification of the capital investments regarding operations worth more than a billiard and 150 the Romanian oil industry, according to Nicolae millions. Xenopol, Italy held the fifth place, of a number of One of the main elements that contributed to eight states (Gh. Buzatu, 1998). this impetus of the Italian-Romanian economic Though it wanted to alleviate the serious oil relations was the continual presence of the Italian sea crisis it was going through, the Italian state did not do fleet in the waters of the Danube and of the Black like Germany, France, the United States, England or Sea. The exports of Romanian goods in Italy reached Holland, who were fighting over the Romanian oil

Tome XI, Numéro 2, 2009 142 Aspects of the economic relations between Romania and Italy (1879-1914) fields, but knew how to collaborate with Romania Romania to Constantinople, the closure of the straits (J. Antohi, 1921). triggered unanimous protests from the Romanian George Cioriceanu estimates that the Italian merchants, especially from cereal exporters (Gh. N. capital investments in Romania situated this country Căzan, .R. Zöner, 1979). on the eighth place in this top, with a value of Around the beginning of the First World 2,000,000 lei in 1900, witnessing a major increase in War, the Italian capital invested in the Romanian 1908, to 13,000,000 lei, and then decreasing in the economy was situated on the seventh place with year 1914 to 10,000,000 lei (G. D. Cioriceanu, 1928). 7,500,000 lei (in the oil industry) and on the fifth The relations with Italy became very good place, with 50,000 lei (in the textile industry) after Ion I. C. Br ătianu had become the leader of the (N. P. Arcadian, 1936). Liberal Party (1908), and in Rome, after the fall of On May 11, 1913, the minister of Italy to Crispi’s government, which had accepted a relation of Bucharest, Fasciotti, sends to Di San Giuliano, the dependence towards the Central Powers. Then, Italian foreign minister, a letter in which he mentions Giolitti’s Italy concludes a series of agreements with the visit of Nicolae Xenopol, minister of the Industry the potential enemies of the Triple Alliance, such as and Commerce, in Italy. Speaking about the relations France, England and Russia. The crisis of between Romania and Italy and about the possibility brings about a great interest of the Italian diplomacy to draw the Italian capital towards Romania, Nicolae in the Balkan area, and, in this context, Italy’s most Xenopol asked the Italian minister of Foreign Affairs, faithful ally proved to be Romania (I. Bulei, 1997; Di San Giuliano to send an Italian commission made A. Tambora, 1977). up of a banker, a businessman and a provider, to The Italian-Turkish war (1911-1912), which study the Romanian market in order to determine the occurred in the above-mentioned context, also hit the Italian interest concerning the capital investment in economic interests of the Central Powers. Both Romania (R. Dinu, I. Bulei, 2001). Germany, which had serious economic interests in The context of the beginning of the First Turkey, and also Austria-Hungary, tried to mediate World War approached the Romanians and the the conflict for the conquering of Tripolitania and Italians more and more. If the Italian political circles Cirenaica by the Italian colonists, insisting manifested an expectative attitude towards Romania, concomitantly in Rome and in Constantinople to until the crisis of Sarajevo, the Italian public opinion cease hostilities. In its turn, the Romanian regarded the Romanians sympathetically. So, government, constituting itself as a mediator in the “Giornale d’Italia” expressed, in its pages, the hope discussions between the two belligerent parties, that between Romania and Italy may appear closer placed itself as well on the same position, though it relations, taking into account the common interests of was for the solution of the Tripolitan problem in favor the two countries following the new situation in the of Italy (Gh. N. C ăzan, . R. Zöner, 1979). Balkans. When the Italian-Turkish war menaced to An approach between the government from extend in the area of the Aegean Sea, king Carol I Rome and the one from Bucharest occurred through drew the attention of the Italian politicians to the ’s visit, in September 1913, in Italy. serious consequences of some Italian naval operations Being invited by the Quirinal’s minister in Romania, near the Dardanelles. Carlo Fasciotti, the Romanian political leader met the Prince Fürstenberg wrote that “a closure of marquis Di San Giuliano. Count Waldburg, chargé the straits by one of the belligerent parties would hit d’affairs of Germany to Bucharest, highlighted the so powerfully Romania’s vital interests that in order fact that through Take Ionescu’s visit in Rome, the to prevent it the king would become ad-hoc even Italian government pursued to strengthen the Russia’s ally” (Gh. N. C ăzan, .R. Zöner, 1979, commercial relations between the two countries p. 323) . Bosporus and the Dardanelles had a special (Gh. N. C ăzan, . R. Zöner, 1979). importance for Romania’s foreign trade, especially as Take Ionescu’s visit in Italy, as well as the until 1914, 95% of the country’s global export took meeting he had with marquis Di San Giuliano led the place by water and only 5% by land. According to a two states to become closer to each other and, later telegram of the general secretary of the Ministry of on, the future events continued to get them even Foreign Affairs, C. Cretzianu, to the minister of closer together.

143 Tome XI, Numéro 2, 2009 Laura Oncescu

So, on December 1/14, 1914, in order to pay Bulei I., 2004, Lumea româneasc ă la 1900 , the different orders for war material in Italy, the Editura Funda Ńiei Pro, Bucure ti. Romanian State, by means of the National Bank, Bulei I., 1997, O alian Ńă în mijlocul altei made a loan, guaranteeing with treasury bonds alian Ńe. un studiu de caz: Italia - România, 1909- evaluated at a rate of 75% by Banca d’Italia, worth 1910 , in Mihai Timofte (Coordonator), Concepte i 10,012,000 Italian pounds for 6 months, with an metodologii în studiul rela Ńiilor interna Ńionale, interest of 6½% per year, renewable every six Editura Ankarom, Ia i. months. On December 15/28, 1914, the Romanian Bu ă D., 2004, Investi Ńiile str ăine de capital state received from the Bank of England as well the în economia României la începutul secolului XX , sum of 5,000,000 sterling pounds, which were the Revista istoric ă, tom XV, nr. 3-4, p. 159-170. equivalent of about 126,110,000 lei at an exchange Bu ă D., 1996, Porturile de pe litoralul rate of 25.22. The Finance Minister of Romania vestic al M ării Negre. Modernizarea i activitatea lor communicated to the person in charge of the public comercial ă la cump ăna dintre secolul al XIX-lea i al debt (Gh. M. Dobrovici), strictly confidentially, that XX-lea , Revista istoric ă, T. VII, nr. 7-8, p. 569-579. the use of this debt is only for the payment of the war Bu ă D., 2002, Spa Ńiul sud-est european i material in France, England and Italy realit ăŃ ile sale economice (sfâr itul secolului al XIX- (Gh. M. Dobrovici, 1934). lea - începutul secolului al XX-lea), Studii i In a French diplomatic report from January Materiale de Istorie Modern ă, vol. XV, p. 31-90. 10, 1914, it was stated around the beginning of the Bu e C., 1976, Comer Ńul exterior prin First World War that “Germany, Austria and Italy are Gala Ńi sub regimul de port franc (1837-1883), trying using all the means they can use to influence Editura Academiei, Bucure ti. Romania’s views, offering their financial support, Buzatu Gh., 1998, O istorie a petrolului creating banks, being interested in the industrial and românesc , Editura Enciclopedic ă, Bucure ti. financial companies, briefly getting involved as much Căzan Gh. N., R ădulescu-Zoner ., 1979, as they can in the Romanian life in order to keep România i Tripla Alian Ńă . 1878-1914 , Editura Romania within their alliance” (Gh. N. C ăzan, tiin Ńific ă i Enciclopedic ă, Bucure ti. . R. Zöner, 1979, p. 381) . Ciachir N., 1984 , Diploma Ńia european ă în When Romania was occupied by enemy epoca modern ă, Editura tiin Ńific ă i Enciclopedic ă, troops, living in poverty and need, Italy was the first Bucure ti. country to lend it a hand, anchoring its ships with Ciachir N., 1996, Marile Puteri i România goods answering the most urgent needs, in the ports 1856-1947, Editura Albatros, Bucure ti. of Br ăila, Gala Ńi or Constan Ńa. The economic Cîncea P., 1974, Via Ńa politic ă din România collaboration between the two sisters nations led în primul deceniu al independen Ńei de stat , Editura Romania to become, after the war, one of the most tiin Ńific ă, Bucure ti. significant importers of Italian merchandises, while Cioriceanu D. G., 1928, La Roumanie Italy was the only nation to obtain the exportation of économique et ses rapports avec l’étranger de 1860 crude Romanian oil, even holding the first place in à 1915 , Paris. the exports from Romania. Dinu R., 2004, Instan Ńe i mecanisme de decizie în politica extern ă a României la finele BIBLIOGRAPHY secolului XIX: câteva observa Ńii pe marginea alian Ńei italo-române din 1888 , Studii i Materiale de Istorie *Curierul Financiar , 1886, XIII, nr. 36, aug. Modern ă, vol. XVII, p. 139-168. 31/sept. 12; XIII, nr. 38, sept. 14/26. Dinu R., Bulei I., 2001, 35 anni di relazioni Antohi J. 1921, La Romania nei rapporti italo-romene, 1879-1914 (Documenti diplomatici economici con l’Italia, conferenza tenuta il 15 Gennaio italiani) , Editura Univers Enciclopedic, Bucure ti. presso la Camera de Commercio di Milano, sotto gli Dobrovici Gh. M., 1934, Istoricul dezvolt ării auspici della Società Italiana di Esplorazioni economice i financiare a României i Geografiche e Commerciali, p. 3-12. împrumuturile contractate 1823-1933 , Tipografia Arcadian N. P., 1936, Industrializarea ziarului „”, Bucure ti. României (Studiu evolutiv istoric, economic i Hitchins K., 1996, România 1866-1947 , juridic) , Edi Ńia a II-a, Imprimeria Na Ńional ă, Bucure ti. Editura Humanitas, Bucure ti.

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