JUS:tlfESS AND !HE FLA.th 4Mlaic.AR .tiBI.JV?IOlfS Wiffl &OMA.NU l.920-1929
Dy SKiffl GAR? LYNN /I Bache lfJr of M'ts Moorh.ea4 S1*w College .Moorlu)a4, Minnesota 1971 lkaw ,/f13 S64!°? ~-o2 OKLAHOMA STATE UNIVERSITY LIBRARY
NOV 16 1913
BUSINES·S AND 1rME FLA.Gt AMJIRlCAN
1920 ... 1929
11 /] J!}(j/tkrJ i., · .. •WA -• I '. . • ilk ~~.._,..__....,...__...,.._,~----~· Doan of the Grud.ua te Co 11,:cg-e
ii PREPACE
Stud.e:n:ts of ••t:em BW:op•, 'Wt'i ting du.ring ·ott· lmmedl- a. te 13' af't•r the l.9208, :g;enera.lq, eons14ered Amer1ean- Ro l'tlaftlan relations to be hutl:tterent 'but amicable •1 However• apon careful study tnt.s view provta to be:·· a nd.s~onception_. l\elatione between the two countrits were neither in.U..fter•nt nc»:.' trl end ly, 'fbe Utt.1 t&d S ta:t. s repE?a'ted }¥ lnt9nen.d w1 th the l~an gove:rninent on behalt of 410erican watness and. the R~ac gove~nt re•enwd tills interference. 1rbl.eh often t"&$Ultcid in •trained rela1:1on.a ~t1?een the t'WO govem•
this studr wlll eYArd.ne tae major problems 1'\ilich pre
•ented .u.toable rel&tiqns l>etwetm. the United States .an( Romania during tbe 192os. ftlese px-oblems 1n.cluded ~d& restrict.tons. comme;l¥cial an.ct -.r debt. paytn(Jnts. petrOl•um nationallsa:tlon legisla:t.ion• p•rsectat1on. of 1he lewtsh minor ... 1 tr in Romania» and. t:b& r-elueal of th.Et A.ll\erican government to reoognlae R~an sovoreLgntr ov&r 'th& annexed province af Besaarabla.. The stud.7 also will provide a. case study of the wa-r the United S~tes oonc.tuct.4 relations ,.1ith small.&!" pow~rs 1n the l920s. Business was a ajtr' consid.eratlon. 1n the policy o:t toi-e1sn afta.tN.. Betwe ~· First \for l4 war the Vn1 ted Sta-.s rat'lk.e.d t:lfth in 1q,ortanoe amona th• na.tions tradlng d'th ROllSA1a.. Alter the rlii.l" several factors ~red. btaei ... Mas oporwnl'lie• in &~a, lMt the po~Ual Jllf.\rket stlU """u\e4 Arlerican ln'hsto~ an.4· lM.tswaamen. AtMr1e-.s wre 1nt••••'te4 1n any eoun~ wblch coul.4 ·otter a proft. t. am &Oltaaia •t qne ot tlu)a. Al tbLt st\141' 1d.il abow., uw... , ever, fe•t• serious •tudtes ban been ma4e • ., Allerleaa relations v.ith Romanla la ·tu period lP20•l92'· tb.e~tore ll08t of ·'f;he lntorutioit COllta.lned in tbi.s ·i1*47 4ei-.tvea · mm prlmar, Ot"·
per1odlca.l sources., file nuurous S·J~ ·writs on Roaanla d\lring th!.~ Pff1od ha.v. 1n'\falaa.blei if not vt.1.a.1, ntaterial, an4 they ha.Ye been 1nclU4e4. -ef'lll.¥ '1\.1.s ,a,.r will PN"" duce a better tan4~rs~ ot tb• Wte4 s•te•• c.cmdue't
~ t"1fari 'the sntallcti" European p01ren 1n ~· ptrl.04 toll.Ow!;ng tbs 1'rst world war. 1 '71. .e:ll w tna.nJt. ~" »el'llas wbo have · b;; J.pe« pr.,..e tb.l.a ttl&sis. ~· a'taft of tile Oklahoma State ln1Yers1t, Ll~ ·baJt. been most he l.piul in seeuril)g or l.Ooa"tf.tlg ~ 40CUJ&e:rtts arid. sources l needed... I nee~ special thenks for Dr. George 1, lev11oury who has 41.neted rq study, au.. Dr. l4chael •· Sm.11th vrko i.s )rfflde
Il.. !ME JEWISH AID II§SJJUJJU!t Clf§'fIQIS, • • t • ' ... 9 III. COMMMCJAL 4NJ1 I.AR l>llB,13, • • • .. , • • " • • • •
:,.. •fHE on. cONBOV'ERSt •••• ll ••• j ..... * • '9 V. TRADE A:ND fim!fl.iSt fftlf fl8J OP RELA.fIOHSi • .. • s, S&EClBD !:I!l,IOQR4J'Hl' • ,, * , • • ~ • • • • , , • 66
. . A brlet ln~tion ot l~a.•• txperi..ence in the . . ., . · 11rst lorl.4 war an4 a...,.,. o-t political·~- 4vlnc Ute decade ae rwc•••~ -, und.er•ttm.4 llounu•s· ·actions toward ,hft lni-te4 s•••·ln tba pe.rlo4 l.920•li!9• tis l>a.c~ ell Ml)) 4€1't'e~p 'lhe ·re&d.er*a.. llQd.ei-s~ ot loJtlilAlaa ...
41lel'10JAn rtlatl.ons . b7. acqualntlna ld..m '4.th tbJ d.om.es*lc . poU.ctes 'Whlch attected· aomanta*s.. tore1sn l"el.a.ttons • tor'l4 ~ One create¢ f.J'~&ter ~a 1ar aJ.tln& the R~ p:ec>ple int<> a sf.;ngle •••· ~a· tound herself ·in a cm:-LQUS and ~·~ws position wl th. tl\e. nt1>reu ot nr 1A l.91.4. 1 W.d,ge4 betweth: .two ;powertu.l neighbOrs., l\\lesla a:cul AU.ertrla...amgarr:t any lomuitn action 1n fawr of one
e14e Wtlld precipi ta1e a _. M,th the other. Boaan.i.a bad & secret alllanoe wlth Ge~ an4 Austria~.. ~. peneoution of aoman.tans 1n. transvivanta pnor ._ -.. war, however, W polsone4 R.... an palUJ.o tplnlen to the ex.ten:\
1 that the people would not allow Romania to ally herself wl th Auntr:J.a-Hunga.ry. Xtaq•a declaration of neutral!t.y suggest- , ed th& cQurse Romania would take 1n th$ war. Romania•• ~. neutrality brought. her offers ot te:t1:"1 torlal ago-&.ntliaemen;t from 'both aid.es at the txpense ot their oppoMnts. The Central Powers of'fered: the RUaa.lan prGVince of Jessarabia while the friple 1~tente entioe4 Romania with promises of the weal't~ province of !ransyl~a.
As the ,.iar dragged on .&omania4'S ab!ll ty to maintain her . neutral.1 ty we.akened,. As a result of the Britiah oon:t!nental blockade, an acute petroleum shortage confronted Ge~, Since Romania containud th$ oniu oil fields on the cont!.Mnt J.Arge tmough to rollpply the O.rm.a.n war macbi:ne• the Qe~ b• lleved that vie tory hinged on bringing Romania into the war. Nil a.n ally Romania could provide oil tor a cOI!b.on cause, A.s an enem, Ge~ could capture ROl?ta.nia/'s cl.eh oil - fields.. In a;o,y case, continued Romanian neutrall ty 'Mll.S out ot the question. 2 Although the rajor1'1 of Roman.1.a.n government otf'1cials were Francopbile and in ~avor ot Joining the En:'tente, the fortunes ot war t~llf 4ec1d.ed which aide Romania would job.. Convinced that Gematl7 would lose the v.rar• Romania declared war on Auatr1a-Kungary on A.ugus't ff• 1916. Romanian troops defeated th$ lfungarians an4 occv.p.1ed 'frans7lvon.ta. soon ,-
t-:cj..... ~ Ii (!) I-' •
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0 1-1) ::a s0 § ..... p., "' "" t:; ~ N 0 l I-' 3 :;d \,() !: 0 N ~ :I~~~ '° o__.~1')> • I:) '.Z ~ > 't i \>I .Qi - __ ...... ~ ...... " Genua.n forces were sent to the s outnern tront Gild J:Oute:d the 10.anla.ns. The Gehlan at"lllY gained the peti-olet.tim tields ot Wal.lAcb.la and drove the Ron\an1an a~ into the province tJt Moldavia.• Before the German.s e;;.ptured th~ rich oll f1•l4s in lo manla, the AlU.es detaaade4 that the l R~a ca,p1 tulate4 under· the 1r~ight ot th$· Sllper1or Ge~ milltai-r tdght and began ne.got1at1ons, ,rb1oh cultd.nat•d 1n the fl-eat,- ~t BUch.tu•ent on •1 11 1918. !he blu-shest tet'mS o.t thls treat, vx:tuld bi\ve toroed Romania to 'beoome an eco~ nomi.o colon, of a.naany. . Al· compensa:tton the treaty would have a.llO¥tcd 'tl'w union ot Dessarabia with the Old Kingdom of Romania.. 6 The fx-•a:t, ot JUeharest was never signed nor lmplellel\t• ed. l.leoause Germany v:ftld th.en have to stop reqUlsi tioning suppUes from Ronmnia. Romania. reentercid the war against Germany a short time bef'ore the armistice, and Romanian troops again occupied Tranayl'V&nia., where the Romanian sub• jects Of the defeated Hung._ry had. proclaiaed the -union ot all RO\lnlenians in a single atatt.•7 This gave th~ Rom.am.an government control of a. large area outsid.e ot 1 ts pr•-,nar boundaries and placed Romania in a strong bargaining pos! ... l I. i'• ... itri1 I ' i , .... 'Robert Seton .. watson, p. 5o,, rrench A.mba.ssa4or .~ to Robert Lansing, December 5, 1917 and December 10. T9I··r·1n .Dep.·a.r. tm.~.-nt ·.of Stat.. e, .~.. e. s t!-JJljffl 12 !.M. ReJ.it1917r" f;rp1 .Ql ~:SIS S '1r~; {liiriarr c ed asJi'RU ... • !up. 2 Yifhe IT war• wa.shlngton, 19,2). pp. 459-4 . 6 fhe Old Kingdo:n 1.s a. term designating the prewar ter-· r!tQry of Romania, the provinces o:r Wallachia and Moldavia. ?Robert Seton--watson, p. 5,, '1on at the Par.ta Peaot conference. 8 Romanla gained much trom the First world war. but at an enormous cost in U.ves and propertt;. The enemy had. occupied over half of the richest part of the oountry: tor al..m09t two years and ha.4 subJect .. d the eoun:tr7id.de to SH:vere r1tqu1sl tloning ot wheat, pe1Jro..:i.eu1ilh m.a.chiru:.ry. r&ilroad rol.i.ing stock EUld other 1 terns. In addition, the war did not end tor ROttmni.a. l\i.th th:.:: armistice. '?be conununist threat ot th• .a~l.A Kun re.gl;nf i,n ~y )rovOked the R~an govenm1ent to J.nvad.• Jtungaey. this a.ct1on not only pr<)lor.ged the per iod of unlf1eat1on Md prevented a speedy recoveey, but 1 t al.so angered ·th& vietorioue a.lU.es and ~rea.ted a postvAr friction and emd'J to",ard ~-W4• fh,~se ~rd.ships "re ' t.>ffset by the fU1f11lmen't ot :tile ROM!lian n.s.tlonal dream. 1lhe unification of all Rouniana was ae·htev•d by the acquisi .... it.on IJ>t ;four nJw provlncesi the Ba.na.t, Beeuiuabia, Jukov1M and Transtlvw.ua. fhe.ae addl 11ons Pl'im.e Mlnisi.r appointed by the King. In th(;: period 1.lllmedi ~ a.tei, at~r the war none of the hlae Ministers ~ould wn.., tain enougn support to retain htl ~sitton fo:t ltmg. f.his tnsta\'¥1 l1 ty added to the uneertaint)t of the periOd .. · Se'V'&l"ft.1 gcrremmental combinatic>ns were attempte lndustr.te: t1. Tb8 si tw\tion e&se« s0l1tawha t v:1 tb the 1,4y,1nt o.t 'the J1a:U.onal 7ee.san1'. J!'a.rty !n the fall ot 19,as. ·a. 1fa.t10Qti.1 Pta!asan.t Par"7, .wa,s & coa.U. tion of agra.rlan gr~s, the ma.in $$.e!tlffltS being the l'taeant Parv of ,~,1~a .and the Ma.tiOMl Party of the OJA., &iQg«•• ,Ormed an September· 26, 1916. th• coal1t1an was held. ~th.er ninly b7 lts ett•rts to 4epo•• ... lJ;.t,e.ra.lS, lO fhe National. Pea.s•t Party N la.Xed ma.av. of the Lt benls' res,.ictton or foreign ea,1 tal, but the 'oedmlll8 ot the wor ldwt ' .. :. .: ' ' , ~ Jewish ~ttQr$.ty o-.~erne4 be~!~, ~le a,~a felt .1.n41gnafl.~ b~~~e ot the AslftricAn r-~tusa.l ~ r.ecornJ.r.• th& WU.on ot;:~aeuu-abi~ ~itb aoual~.. . . . ' •fbe lntefl)O\lrse oet,;'f!en ·~ ·two·. eountr.lelf 11' the »a•t.,•, .freaid.e:nt flQOdror· Wl.lsa. t-atisarlc~d. 't$ th• t1.r$t IOmatlian. All· ~8"4o:- t(l tbt Vn1 \1!1 d Statea, 4uring ,thtt ~ti while al~,ays an.lewd by ~t. an4 eontldence1 bu· nvt been e,cten,,1n1 but R~a and. the· tJl\l ted States ~e now dram Ql'Mer- tos•the~ u cOMOll .a:utterers 1n a nouOl'l ,_.,, and the e.ctlon of th$ O .tn ra. tpeech a1 tb4: Jeaee Ctnferenoe .Q.n May ,1, l919t ·ltla(m claimed the G:reat JO.v:'.&%11' re•pons.ibilitr to .t..n:taln ,... wtr .1.4 ptta:ee ent!tl&d 1hem w mlnori ty gUarantete$ frt• the amaUett na'tl.ons. 1tu:the:r,. he dtUneated. ~· pe.aee keeping rct·le o:! ·· the Int te4 Sta.~ in re-rd 10 m.tn.orlt, i-ignta, there -.4.e.tLliea all ot these t~oti.tne the ex pee~tlon.a on•~ part, tor e~u1 . ot R~&t ~ Ob.tchaa10~, au. ot lev~ that 1:t' tffl.1' cove~• ot thls settl,en\et'Lt ar-e not obsert"¢4t the \\·1.l:ifld S'te:tlll-11 will Gen.d hel* armies and naviea to see that they are ooo.erved., !he expected. rea.ctlon of these natlons was one Of 1n d1gna:t1oth fhet c0?1$14ered the ~lateral chl.\racter ot 'lhe obUga.ti.on /J.o protect ~Ot'i tie'»] ••• & ltwnlllatin& d.1serim- 1nat1on as long as 1t. ft.I not n.tad.e to apply w all States bJ' emllodying /].b.e ll1.lnor1 ty g'IJ.&r&nt~e,7 in the eovena.nt of the Le ape of lfa.11.ons,.. •• Despite their objeot1 Romania. because lt would have 'been too risk7 8 'W ass.ault ene .. mies beyQnd th"i borders of the country•. •' The foreigners 'lr•d.eric c. Kauo, 1.il. lFlr.a ~.SI a1 ~, J2J& ... 19)9 ( la.shington, .1.9,,), p. • . 4Nano, P• 22., also Sl)tetor1. pp. 141 ... 14,. '•ano, P• ,,. . 6m.ciww. M. NaQ~talAYen.•~111 s'iiLAllf:.·· ,:,~ t,i1wa 1mtma ll4 _:____·_ s. .. ~.. ,t 9+0 4f. AA 12 'Ni thi.n Ro..ania were Gt two type•• the fO:re.lgn t~1al ln ··· terea'te which d.Olid.nated tho R~tim. eoonom, and tb• Jews who nu11evical}¥ predominated 'the d<>m.crstlc middle elAtiHJt the Je:wi.sh refusal to assJ.milAte, eomblned w1 th their prominent pos:l:tion ln '1\e 40$estic eetm-,, made them the target of a.wse. cona~t and eontlmted. 011:t'breakl of v1olat1ce against the Jewish e~tu lld\tted R-4iu,n1a,.• interu.1 Ute t~... - wt the 1920•.- A.nti.Semit11m toun4 its m.oet active S'QfOt'Wt in Romania fr•·, th~ Leg1on ot Archangel ifi.cht.\el,, Gr,aniaed by CGmeliu Zelta codreanu, ~ed u;poa 'Wle pt-1.nciples ot a~.- nation1,Uem and the Roraanla Orthodox rellglcm, the Legion attracted a. widespread. ~ fanatical tollow1ng among the y<>uth, espeeial.l.J univera1 ty s t\tdents, ·and the worldng cl.a.ss. the Legion's anti ,Semit1s11 contributed to 1w pop;a~ ,. ~ popular.it, enabled C0:dreaml to eiercape conv1et10l\ ot sev•rill DU1r4ert he com! tted in the ~ of coneoting 1:njustlc.es. The Leglon p&l"t)ewated .rJ..q•, iomonstratlons and. phys1 cal ab\lse against lews witb the government powerlese or un.wllling to stop thftnl Codre&AU*'e: f~tie fas.et•t organ!.- - matton terrorized the •nt!t"e J~,dsh pop1tlatlon of ~a. :See~s:e th.e Je~ could .tind llttle help frO!ll idlfJ R~n a\lthor1 ties, they turned. to their brethren of Weate~ mu·ope Md qer1ca for h•lp• fh.\s oni, infuriated the antl+Samt.te• whose xeni.lpho bia coinpounded their ha:\'te4 of the Jewaff1 Penocutiort increased, and the Jew:s again app•led. to: the West1 creating a Vic!oua circle often repeated througboµt 'the inte.rwar p~x.--iod. fit€:· groui in the United Sta.tea 11oat sJlll')athetie to 'the plight cit thie Ro~an Jews was the A.merlcan, ·:Jeiwisb Congress. The J.aner,l~a,n Je,d.sh CO:ngr~:lflJS Q>t'gani$ed mr:etings, demonstra... tions, and lette.r ,t,r1ting campalsns t 1.ntemal problems ot R~t.a, ltovmver1 Ke l:.i.e>gg ottered to 11an.o, Pt 19, al::H) Bagy ...ft. .JI.Tera, pp., 44...48. 8ane need. only sarvev the Hew tork ft.11es diu··t~ this peS"i.Od to real11e how a.otl•e the Amerlciin .re,•,:l.sh congreas tlU" ln this res;eet., tor elCample, lew tort .fl.1a;,a1 (lltu::eitAb&J!" ao, 19e,>, P• 16,1~ · speak with the Romanian M.S.nister .qi Mvlse hill of ifl• poor pub.Uc opinle aenera ted. bf the treatmeat of lewa 1n ROll'talll.a. Rabal Wise felt tbl• was not _.ugh, bat Ke.llogg M4e 1t cl.eai" he would go no turther and egpl.A1ne4 'tb&t ai.t.lar ac tion bad l)een ,aten ln behalf ot C&tbollc• d.ue to the rellgloua •11:uatlon IA lexioo. the ltvd.sh dele&at1on ~1Mll1' aecepte~ .. t!d,.a offtr•' Kellta nth the R~an Klrdster·, Qeorge . . ' •t . . . Cb:etaano, .8*1d.· ,en4eavora4 • -.ke clear t.ha.1: •• ·meeti.ng d14 ~not repr•iu.-.t~ ~ ol'ft·clal rttbulte on lewiah lre&tltffit out . ' aerelf to bring to. Cret~o.•s atteniion 1b.at reports ot perseeutton of Je• bad created ao lD'lAWre.bl.~ op11\lon ot Romanla. ·~· a l.Arge aeotiort ot· A.m~rl.cans. · cretdaao J.n..,. s.lst&d that aueh reporb wore areat~ e~erate4. KellOG rep.J.ed1 b.Owever, 'lb.at. tte-.pl ti- their &lleged. exaggera.U0t1 1#he regorts. a.d.YerseJ.y· &;ttee'ied ,An\eticaa attltudeS toward. Romania. !hereupon., ht •»wed crettiano the .nueroue letterl ' . the State D~ar'ttllent bA4 rece!•• frOlli Sena.tore and Repre.... aen.tailv~. e.xp,reselng the1r eCM'icem over the ltwish problell and the l$'tter ot R&bbl Wise whlch .lnelUded ,:the protest ad.Opted bt the Amet-1can J'ewi,,h congreas.10 la December ot 1921 the J&wish c;.te11t1on took on a new 41,rnen.alon w1 th the injury ot aa A.mer-1c:an. eltisen 1n an an'1- Sem·.i,t1c rlot at Ot1\daa Mare J.n tlOl"thwestem Rontania. the ~zm,,; ~ m.. • ,,9 ... 64o. l01b1(4 15 A.mer.lean.,0 Gottfried. Keller,. employee of the !McA, had \ ; an • 1 ventured. into the atreeta during the r1o't and hid been at- tacked and baa.ten, tater he admitted that he bad tried to re1vain eo11e demQJ'latrators. Nevertheless~ the 4mer1ce.n 141n .i.ster William Smith CUlbf:rtson preaeured the R~a.n. govern.... ment to ¢.Qnduct a.. full 1nves11S,at~ort le&ding to ·the eonvictl.cm of the petitions invol'ted 1n the er1m.a And to compenaa. tf> ltelle:r for his 1nJur1es and 1osse1.t.. C\tlbertson -., aaanum.t in re ··· gs.rd to c;~.en;satlon. f'or 1 lbai. :i-eallJ l;Lngered the Amerlcan diplomat, however• wa&; the t'a11~e to deliver a telegram sent by 1'elier•s v·ife to the .American consul de.sort bing the circumatancts . ot the at.. ta.ck. ~ci;.bertaon unleUhed sueb a powerful t$.rade at the Rom.antan Poreign Office that he proudly repat"'ted that sh<>Ul.d sbJ.lar clrcunil!:ftar1ces recur no one would da:re in'tertere wi"th ant eorrcEtl)Oftdence to an Arllerioan offieia.1.12 !he demon t'ltat1on at Oradea. are t>roueht a tempora.J7 restriction ot a.nt1 ..SertdUo activity,, bUt COdre&ml and the I.tegton soon re ... nered. their a.tta.cks on Jews, Spurred on by Hi tler•s rise, ~ 'the scope at anti -Semi tic aetlvl ty CQn,tinued to increase Wh1 le 'the Jewish problem inflamed American pubU.e opin ion aga.ins t Romania I the Jessarabia.n qu.ea t.t on em.bittered Romanian government official.S a.g&inst the non...aeti.on taken by the ~.ted States 1n regard to Bessara.bJ.a • s union with Romania. !here.fore. the Bess&r&bian question had a. greatEtr lmpaet upon Romanian.J.mer1ea.n rel.ati®.a a.1 thOUgh it affected fewer people. Both pt"Oblems, however, continued. to separate the t"-o countries and dl&allowed effortt tor l'llUtual fr1end. ... ship. After the First wor 14 la-r, Romanta•a greatest conctlffl viu to maintain the gains created by the peace treaties. 'lo ensure protection of her new bOundarJ.es, Romania entered into &gree~ents, which col.lecti.Vely became lalo,·n a"', the IJ. ttle En.ten:te, with Czechoslovakia and 1\tgosia.vta.1' Although 'lhts group could e!f'ee:tJ..veq cheek Hungarian and iulgarJ.an irredentism... neither of Roinania •s partners would support her in a conflict \'.11th Russia ovalt' :aessa:r1.bla. In an effort to llessa.rabia., Rontania al.tied hers:el.f w1 th Pcnand and sought recognition of her tetti tor1a.l. rights 1n Bessarabia from the Ox-eat Pow.: rs, France. Oreat Brita.in, the 1lni ted States, Ita~. and lapan.14 Jifogot!atlonn with the Great P"Owera tor recognition ot Romania's sovereignty over Bessarab1a began in :farts in the t ft 1r l ,-trs1 r 1,1ohn Oliver Crane, ~ W.ille .:Q\ltai!2 (Rew tork, 19:,1)., PP• 9~11, . p • l~~Robert ~'8.ehray, JI)& lJr.li!a lQ,;t;fl)it, (LiOnd.on, 1929), 11 spring of 1920.. 1'he American Ambassador in Paris, Hugh wa11.&eet reqUested perm1sslon to enter into the negotia.Uone on 'behalf ot the tfnited States, l.Mtt Secretary of State Batabr1dg$ Colby refused American part!.c.lpa1i1on in such a trea.ty.l5 fht policy Whioh Colby deff'elopad toward. Rtt•sla ·ft-even.tcd. the Jnl ted States from. supporting 8211' action vrhlch a.U.ena:ted tern.torr from ffllSsla.. .A.s c.11>1 explained. ln a note w ~e X1aliana, the Vnlt.d. Sta.we OP.,ffri the diamam ... bermm.t of R\\liHt1a v:1 taftt J. • consetrt beoause tu.t would p:ro .. !14, the Bolsbev.i.ks the pr<1papnda need..ed to· Dite the cmm:try under th;tr rt.Ue, 16 Despite Anleriea.n r~~Ml,to joint 'the .. . . Great :Power,s proolair:ua4 the '*1on ot Bessanld.. a w1 th RollffflJ.a. ~n a. treaty signed. on Ootooer 28t 1920, in the Cloek Room of the Qua!. i. • . ·' ' • • •.'It ti.al a1i., against Russta·, Romania b-e~ ift¢1:4;11as1ngl¥ hoe .. :. ' . . .· . . . . ·...... ·. . . . . i ( . . . . ·!·,;W.... t.lle to '4er1oan in.tereata .; fea.rtl later tm{~loa.n failV't to Jo1n'.1't *"•trot October 28 sUll eti~1t~re4 Romanian feellnis/•·~d· -the ·Vnited Stat~. . 18 the question of iea~'bia was n.ot resolved un.'11 the United States began negot1a.tton• tor the recognl tlon of the c~st regime ot the soviet Won.. Al~ 'bbls oooa&rrM eeYera.l ,eus be,-,.4 'ihe period of thls paper, 1 t 1• an esea $1 pa.rt ot 'thtt s:toq and _., 'be •l.d. the r.,.. llOd\nla rtnawe4 her ettorw tio' ob..._. MerlOM t'$coenl1d.oa ot !o... --.ta*t .~ w.lth, ,-.-.ra.... ·was 'the preb«W.l.111' that. tlle ,,... ,.. .." . . Vt\1W States 1VO\t14 reeognl.a,t ~ S"1et tnlon and 1w claim 10 lea~~- On' March; 61 1,,,, Cba.rl.es -'· Da1'11A1 the ~ ldJd. .... at.er w ,~, T1•1 te4. tlle Slate Departnlent to d.lscus• 'iae lts~btaa, qu.estlcm. Ke met 'wltk Ylalla..c,e •rrar, the •. • t ' . Obief ot: llt.tis1on for Jr ear Eaatem Ufalx-.,. Xn W• report on 1be m.eeUn6t ·~ conce4e4' 14\a.t the lesaar&W."1 qUeetloa. bA4 ttoccvp1•4 the e.fler.rtU.on. ol ttte Department a1moet eontint& OUSl.J tor 12 7ea.rs• w. tla,t the 11nite4 Sta.tea was the OAl,7 •J•:r po,wer bes14$8 Smet a.aa1a which d.id not recognise aeaaare,}d.a as a. pa.rt ot JlOSllnia. 18 1>a'f11a.deacd.1>e4 the A.m.erio&n pos1tlon u a. e,ulaU.e d.lacrim.1.natton• agatnst Roma ni& which bad aroused. Roma.n&aa oft1c1al 0pinlon. against th• WW Ste.:hs.. Although 41tcuelon. ot the ~can attl.twte ~ Jes•arabia. 1n 'the Roms.nlan pre•• had been suppressed, DavilA eia1me4 this WOUl.d not be poeslble 1n the tutur&. Ke tether tta.ted that pubUe 4lacuss1on of the problem. bJ' tb.e ··~, ,. .. i u ·,r •. tt I l '11M•t!II.P .wll to aew,1 11.:1.• •rch ,, 19,J 1n Jt:UI, 1 a~~f,~ 1, Roman.laa press would 1.ntlaae public opbu.on 1n Rounia against the United Statea. 'l'he Roman.tan ll:ln1ster suggested. a simple aethod to gala A11er1can. recogni ti.on of Beaaare.bia •• union. with Romania - the use of lmm1gra.t.t.on. quota.a. In JUne of 19:Sl the Depart- 1u•t ot State, under presaure mm Romania• had •epa.,ra.ted 'the Beaaar&biln. · iad..gratlon quota. b.-om. lhe RUas1an. quota and. ea •oU she4 an .lnd.epend.eat .Beaaata'bla.n quota. lfow the R-.ani.n government ,u:ged the lncluston. o.f the Beasarabi.an quota with '11.e Romanian qgot&.1 wb.1ch WOUld. give ta.cl. t Meri.can recognl.. U.on Of aes11arab1a u a part of Romania .1' Dav.11& •a UgUments 1nclu4:e4 preoedea1le from American .. hi.story, Ke compared the Vn1 ttd States• acqm.,a1 tlon ot f'ehll. 1n 18-'·5 w1 th the B.a•ara.b1an qllestl 01 It fill., .•• those arg1.1.ments, the Romanian government requested any assistance the Uni te4 States could make to resolve the dis ... ,pute 'between Rom.anie and Rttasia. over iessa.rabia. 20 fbe ROillanlan government beUeved 'that RWJsia desired American recognition enough that if 'the United States suggested the settlement of the Be•sarabian quee'bion a.s a condition for that recognition Rusta WUld gladly do so, on Romanian terms,. After five weeks ot d.iscusa1on between the .Romanian Itagatlon. at Washington and the State Department. Seeretar:, ot Sta.t.& cordell llnll advise4 President J'ranklin Roosevelt that, After a euetl.11 conslderatlon ot tbe ta.eta I have come to the oonclus1on th.at 'thal"e is no longer any reason why we should eontinue t.o adhere to the doc"tr1ne enunciated by Mr. COlby in 1920. On the contra.r:,, I feel that we siould now recognise the 41 a,11. s1 t.uation. l Hull agreed.with the RollAt\ian goYemrnent that th!• could. be done most east ly by the 1~e.t1on quota and sqgested. 1 t. to President Roosevel't.. flt.e President replied, '*App.roved .... It ts aensi.ble, •22 Executive Order number 2048, eonoemlng inmd.gratlon quotaa, lnclud.ed the B."sa.rabian qaota with the Romanian quota fox- the yee.r beginning July 1, 19,,, a, ~t:20•~1e~ Dav~la to ll'ull, i\laroh, 1n !!!!• \92,'. .!!.• P• r;;..,?. 19,, · 2~ to lEin!UJ,a ijgose;fi~~- April 12, 19,:, 1n rmm .• 19,3 Il, P• 680• a21oid, 23ga~• .Wl 11• P• 682. the Jewish an4. Jessa.rabian questions comprised a a!lall part of the American relations w.tth Rolllllnia during the 19208·· their importance derives from their constant presence. !hey were 'the ·background against. 1drl.oh all other rela'1ona be tween the t,.'10 countrlee came to light, American Uaaatta..... faction conc&rn.ing 'lbe trea1aaeat of J&v,,s ln Romani.a, and Romanian indignation a.t the American retual to recogds.e lessar&b1a a.a a part ot Romania worked together to cloud Roman1.a.n .. Amer1ean. relations. fter& otUl 'be 11·ttle wonder dtF thoee rela.tlons were fr&ush" w:l th 41tt1cult,. 'I.he widespread pu.bl1c1 v conceming the persecutlcm ot lews 1n Roman.la d.iacouraged J.mer1can businessmen trom ven. .. turing lnto what appeared to be an unetable ntl\rket. •eu• whi le, the American at1d. tude 'lr:>ward Jessuab.la 1nrtul tecl Roraanian. pr1d.e and created dltt1cul tq ln solv.1:ng more lmpor .. tant. problems such u co•eroi&l and •r debts •. !he niu:tual disaf'tect1Qa\ uloh the Jewish, and lessare.blan questions aroused, was agg:r&vated furth.er by Jlomanta:•a fail ure te pay debts owe 4epreo1atton of htr currency and. the fact tMt th(? debt. v:ere repa.Jable !.n gold o,: in toreign currency, Ot ·the ~ eseentl&l 1tantS tor Roma.nia after the wart the moat lxnportant to a Qtliclt recover, was a strong currency. 4n. understa.nding of the cUr?"ener s1tt.tation ia easent1a.l to re&Use the difficulties Roiaania experienced in trade and 1n debts, Mong numerous obstacl•e to eeta.bUshlng a strong eun·2:ncy in Romania wex-e lha consollda tlon of the Romanie;n f i . nation by a.44.tng four aew',pr-ovinees and replacing the -.ar1oUd mcmies of the n.ew provinces with. a single cur,:,enoy,. The chaos wh1ch follor:'ed world war One ca.usc:d a delay ln the unttieation ot Rom.a.nia.*s currency, '?his delay and tha an nounced exchange ratee (Olle ruble o.r two Austrian crowns 22 equaled one lllll) brought an influx of paper money !nto Ro ... mania, because :the m.oney was worth more.. 'l'he Romanian J . government expected. the currency exehanaes to "f&lue near 2.; billion J..sU., but the currency influx brought a total value of 4. 6 bilU.on l.&l in Austrian erowne &lone. fh.e note circulation leaped trora the estimated s.1, billion la&. to a total or· 1,.72 billion ~.2 !he moneta17 circulation per cap! ta was not excessive, but actually no gold backed the curNncy. Durl..ng the war ,II!," . ' - When German oeoupat:1.on of Romania appeai-ed i~en:t, the Allies requested that tb.e Romauia.n gold reserves be ~~:· f'erred to Mt>scow for sate keeping. Whan the BolsheViks eae to Powel" in. Russia 'they e~1sca.ted ~e Romanian gold., !he atolen gold totaled ·over J15 '1111Uon gold J.&i. .rm4 accounted •. . ., ~.J' tor 6:,.6 percent Qf the 495.4 milllon gold J..i1. r-eportedly ba.cld.ng the billions in cu.rrency.' Another problem in eur... rency consolidation dtJJ ~ .1sauance of ISQI it.DttAJ& notea tor abo'Ut a. 5 billion J.d. under German B.l,Jspic'es dving ~e period ot occupation. When tne Germans were forced to with.. draw from Rome.nia they wok the press wt th them. an4 continued io print money. At firat the Romanian govem.lllent repudiated. this German lllOney, wt later reall~ed that this action •• 'I( ·-·-·· j 1 iiT 1The plural of the Romanian currency, the J.1!b 1s 111• 2Pasvolsky. pp. '.589 .... '90· . 'Depatttment ot frea.sur,. ~ illi~\t ~230,r 21. llll Mli.11i, ..12.m ( lashing ton. 192!1;-jj". . . v,,quld v.JOrk an t.mbe&rtilble hardship on tbe peasants, who bAd 'been. torced to accept :this money 1n return for supplies de ... livered w the Ge~. The Rc:nnan.ta.ns had to aooept ·thiJI currsney, 4 As a reau 1t ot a1 l these tao ton the •1ue et tb.e JJS. depreciated. trom a. prctar •iue ot 19., cents (American) to •7 cH.,nt ty 1922. 5 fO av . I Hf P ~ iii . M -.fFiilNH.trUi 4-.tb.ld.. '-ew York ti.mes (Ja.nu.~ 1, 1922), p. 24,,.. 'iiew fork times (KOYem'ber 16, 1921), p. 1• 21 <.. ·.Movernb. er 1921).• , p. a:,,,, (November 19, 1921), p. 191,, (November 1921), p. :,a, 2. value ot ld. dee Uned • ho·wever, and. at the end of October the ban.king house ot Leroi du. Pr&i 1n Ja.rb demAnd.ect pa.pent J.n the a.mount 0:t sixty million .h'anct, which the lin91 ·~ could not meet.7 !his episode 1n:tens1tled the be· U.ef among Roman14WI' 'tba t for:~ cap1tal ._.. a1~'1ng to reduce R~"' to ·an &conomlc colon,. J>tA:r±ng 19a2 the BU:eharMJit Cha.inber of Commerce orpnised a eoml t'tee t,o negot.lat$ the .settlement ol 014 private ·oom. meroial d.e:l)is· 1d. th tor~1gn cJrsd~ ~1'9 bed\U$e depreeia Uon of the IQ~an ou.rrkn.ey made repayraen.t veey ~fticu.lt. Since the debts wert hel4 1n gold Gr foreign currencies, some foN ot &dJustme~t was nece•~· the B.c~an gove.mment oo doraad this a'ttetllPt to resolve the prJ:,a.te d.ebts in Romania. u benet1cJ.al to iihe growth of the Romanian eeonom;r. On llt&J ,o, 1923, the Libe.re.1 la.rt, CC.Wffnl'!lent, ttnd::·r the influence of 11na.11ee Minister Yln'til& BraUaitot adopted a. law .ln sup.... port ot the JnebJ.\rea't Cluutb•r of commerce •s attempt to llUJt tle a11 fc.treign eonJJ1trcla1 deb1:8. !nti tle4 the -:taw tor the ft$gUlat1on of eoaeroial Indebtedness,• this measure came 8'· a resttlt t:>.t the Manchester &grEH3merd{between the comereial Debt COmmiaalon and Brl tish ewedl ton. fbe a.gr$6m IU.Pi :M . f 1 1 ll t fl. 1 l 1ti l ., d t . i Rom.anta ~te&d repapent ot tht 1oan. 8 the lri tish oredi tors insisted. that tho Romanian goYemment guarantee 'that no other oou.ntr, would reeeiTe tull repayment of debts since they had sulrlu.tted. to an adjusted aattleraent ot the ~bt8. •As· a. pe,,rt ,0f th1• guarantee 'the R~an go'fel'nment pNlmllSG.~$41 the "lA,w tor ~e Rqulatlon of Comm.erelal in. deb\e4n.es•• on I~ ,, 192', The Law ataw that for coun tries wb.Os'e e-.~eney aa 'lbr6e 1d.DleS hlw,r in. regari to ~ l..ltl ~·.·»~ p&ri'r the' Gnemment oo,ld,i:··on the re4Uelt ' ' ot the ®t1cJ for Speo1al ,.&nte in Fore~n :eiJllr til t_ .. ta··· ""fr,.,. _o_· PH·· ti,•· . . 8-ew Xork. ~mes {March 25, 192:5) lI, p,, 1•~h aiso b:Jilt to .~e! IIJQl l\\ibli, Augnst 22, 1')2' in 11:!l~.·····.;~· --1! ...... p., ' ' 1. ' ' ~so' 9~ to IIHin~~.. IUne 21, l92' in 'll!' ~.2~1 ll• pp. 648~ lOtbid. tandtng the d.etrta over a eo.nsidera.ble perlod of tlme .. ll Kn.ovm u the *Term of Graee ta.w, * Americans viewed thia mo:te toriwn on tore1gn eomraerotal debta u detrimental to Amalean 1nteretlts and poten.U.al American 1n'lestors oece.u.se all credl.... tore were barred trom eollectblg t.n RO'lllania.n courts the debts ow-e4 them...12 On June 19, l.9 a,, Jay explained. to the aoma.nt-. :rore47n Mt.n!s te:r, Ion G. J:Atca, the. t the Vni tad s ta t.EMJ govern... ta.ent rould n.ot fe.el bound w the ·terms of .an agreement betw&a Great Britain and ROl4ania, ln reply DUea .aeke4 11' the Ameri can et.llrhereial at'bache could ac't u an 1nter'tlediaey for Am.er.... 1eM J.nteresta !n settling 4eots. Jay t-epUed that the lni te4 States government oould not speak for American credJ.:tors, u they alone ha4 the power to aettle 'f.ihd.,r a.coounts,1:, on September 201 192', Jay handed Duca. a formal protest ot the "Ira•.· for the Regula Uon. of cownercia.l. ?ndebtedneas. • Jsq•s note ,p-0inte llNew York times (Novel'liber 251 192,), p. l!h 5. 12~! to J.a:1,, Angust 22., l92' in UIJ• J.it\ D.• p • 651. l'~'fAu ·. . · . . ·. · ·...... · .·.. . · · i!. . · ''°· ~ to kb!!• Jane 21, 192:, 1n IJWl• .l.llJ 1'• pp, ate... could pay .tn foreign o.-r~y and the ott.es 'd.O eottld not do so. the a.it1 •de of the American government vAa that 1:bose deo'tOrs able to pAf should do so without tbe gavet"nllltm.1:al Wlnence, that the ia.w entailed.. Pina.11¥, 'the Aaeric&n government con1.1i<1er'Sd ~ at't$mpt to lmpos$ the 1aw .on.. American. ¢,hd.1 tort* ,d th.out their consent, an 1nfringett1ent on the r1fh't$ of Aaerioan na.t1ona1,h To ihia th& 11n1 ted Staiies QOUl4 not agree.14 Rtllpor• that tb •t.X'll of •~• lAJt• W<>lill4 be expanded into ·axt absolute moratorium and extend$d to'I: six months broU&ht ~:r &ctS.on by the Am.er.lean L&Gatlon.~ The com.... mereial a111Ach$i Of lfran.ce, Xia1y. llelgiwa, Ht..tlle.rt , ...... 1a~w. A joint ~Qti to Plnanc& Minlster Bratiano v.as •ug... gasted, Dennis, however, rtfu•ed. to involve the Amerlce.n L.&p-:td.on in au.eh a.. joint ac.rtton. Finally, they a.greed. that each eounw.-y•s Ambassador wottld. present an !l-.&i8•.llS2ib to the Romanian Foreign O.ftiae 1n protest, In ptU'$UAn,ee of ~t ~eement, Jay handed DUc&. an. ~·UIOiiaEI protea ting the proposed. 1iw, Two ·~s later on Novemb• 2' DUc& int,oi.,aed. · Jay ~'t the other Ml..nisters had. a1ao protested., 1' When th• lA'W for the extension ot tht mo:rato~lum -.a intr0duoe4 int<> the Romani.an Par1iam•nt on the 24th it called only for: th.e extenalon ot th• en.sting law :f'er anoth~ tbr~e m.onthS .16 lb.en, ear]Jr in 1924. the hencb ereditort reached·~ · agreen,.ent wLth t)teb Rom.&nlan debtors, L&m-ence Dennie, then Ch&rgl 4*'A.ttatrs, reported. w the State 1'~»~tment that 1t ... would. be ·&.4Yieabls tor American er-11 tora · to tn~ttle wi i)h th• Romanian Debt cown.tsaion because t:h• aon,.a;n1an goY~t•s poaJ.Uon wou.ld. nQt aJ.low American creditoN ~ r-eo . l ·11 1 '" ., '_j" "l .··- i' ii.I{. t •t· l.5··Dz. to ~' NOVtmbel' 2,, 192, in i'.1i!lt Jr21f 1', p. Q,,~ .. l6sew tork 'rimes (November 2,, 192'.5), p. l.Sr?>. 4 • 19~111;.~~ Nfj~ 21, 1924 and llat'eh . to replJ' that only tile 4nHtr1cln cNdi ~· could a.ct a.a their own agentl and. to reiterate Amet'1can. objectlons to the dis et".bd..natoJ:7 aspects ot the •term of G~ce La,r\, 18 Wheri. Jar returned to Bucharest' from meettngs in wa.~. ton h• b~ogght ,;1th him a l'lOt-tt dertaJ.led discussion ot the ,problea11 · · J~ ,rial ted. Dt.tca. tn November rt,· 1924. and eb.0:wed him a d1$pa tel\ ·ou.t11ning the S 1.a'be l,part!Qen t ts views . DUo& eJtplalntAd aa.t: the Romanian goY$mment could not peffli t Amer.... le.an ct"edl toH to ob1iain Ul\c()ndf.tional s&t.isf'.a(ltlon et thd.r el.alms because the agreement:,,. alread.J' concluded. w1 th Great Britain., h.6nce~ Swit:t&rla+nd, Iialy and Belgium, obU.CaW 'the Gffenwsnt to prevent by l.eg1E11l.ation foreign credl to't'Af who bad n,o collective a&reetment trom. obtain.t:.ng execution of Jtt4Sent$tl.t, tis inea.nt that even lf the •term ot'Graee Law" were not renewtd 1 t would be 1mpoesible for- 4merlcans to •eoare their cla!•a.. 19: A. t · this tlme 'lhe R~an gav•rnaen. t -.s cons14ering a .. ill. .i'iDm!:!Bii!&SG sind.la.r to ortee 1n eountrie.s observing the Code H&pOleon, Thia 1aw ,VO'IUd give oourts the discretlona:r, p0"1$t' to grant.. a gtQ,oe periH. to dt!}biion thloae inab.111 ty to meet obltgations -.a ahom w be the result of ciroUl'JIStaneea beyond th~.b: control. 'fhe 1n.eorporat1on of this 1a.w into the Raw,.f.an civil Oode WOUJ.4 replace th.- tempodlt7 •term ot llmce t•w• w1 th a pwmMelrt' provlalt>n ot a slmllar na.1:ure. Many ot th•. ~ean o'.b3•otlons ~o.'lbtt "fer111 of Gtace r.aw• woui4 be· ._.e~"e : .,' firms* ·,1a3.4t4n Locouttw. c~ and ~s... ooeanto eorpora- tlon. S.tnot theJ nre pul>Uc, ubts, thq dl;d not. come under 11lle JllnJfUo1'on of the lAW to~ ·thtf su.pena,~n of· cortanler.... clal d.ebi:a- .U.weYer, b pro.c,ant!.MtJ. tifD. F' t A ••...!lit t'·11ll.Jl(R' ~f HI . 1 aoxb1ct. 211ew tort !lmea (146\roh a, 1925), II. p. 1111 (uaroh 12, 19!5). P· ,Oa5. bal.ane& ot the te,soo.ooo spJ-ea.4 over a five-rear period at d.:x percent interest. fhe debt to Trani-Oceanic ,.as a1so settled at tllia time. 22 In the spring of 1925, .u part of a general pOlict in regard ,to all countri ea, the lln1 tad Statea began to pressure Roman.ta to settle her ~r 4e1rta~ Because the loan.a were -.de ,to Roma.nl.a Q.fter the arm.stioe. the St:f:\ts Department toOk the w.ew that these 1oans were purely 'relief transae... tion.s and shou}d npt be eon.fused with the general war debt problem. !hit reconstruction aid. aaounted to 12,,000,000. io ·that sum v~s added t13,-000,ooo for the p'U.1.'chaae or Ameri oan -rAr suppllas t 2' These fi~es were veey modeot in oom pa.riSc:>n wlth amounts ov.:e4 to the United States by other countries. In April, the A:Aer1can Mlnister, Jay prellent&d to 'the Roma.ni&n governmen:t a torma1 communication ot th& .State li~.rtment. The note pointed. out 'that R:omania had negotia tad tun.ding agreements with other govemm.en ts tor 1arger a.nd more recent 1oa.ns while American 1oans ,,ere lg. nored .. 24 When. 1n early Au.gust,. 1925, the new American r.tin!ster in Bucharest, William Std th CU1.bertson, prodded the Romanian government tor action 1n regard to the Wi\r debt1 Romania. tsn· '1 - JH i:I 't .• _. I ?_ Ii' ·t 22tfev; tork f1m.es (S~pt1:Jmb&r 27, 1925), I.t. p. 14,1, 2'N•w ?ork times (April 16, 1925). p. Z0•2t (May 11, 192;), p .. 1,a. 24New rorlt Times (April l5t 1925),. p. 6151 liE• l2J! ,ii., P· 614. '' ottered to sand a commission of financial experts to 1Vlash ington to discuss a preliminary basis tor tund.ing the war debt. fhe State Department rejected this offer And replied that it waa not interested in such a commission an4 -.pecte4 to negotiate v.i th. repJ;"esentat1ve• ot the Romanian govemmet autb.orized to oonclu4e an agreement. 2'· The RomEUlian Min.la ... ter to waabington, Prince Antoine Bibesco, ·fully aware ot the American posi t1on. had 'been recalled to Bucharest to dis... eusa the pr<1>'blem.. He infomed b~th Foreign M1n1ster DUc& and .F1na.nce Minister Bretia.no of the iiapor~ee of f'Ut\ting the war debt. 26 49 a rewl t of these pressut-es, the Rom.a ... n!An gwerment appointed the Minister to :r..ond.on, Nie.holae !1tu.lescu, to head the delegation sent :to the tm.1 ted States to negotia. te a solution to the war debt problem. fitu.lescu ,.es well que.UtJ.ed to le&d the Romanian War Debt ccmm.ssion. He lla,d previously been the Finance ld.nls .... ter and had been ins.tt'Wlental 1n the negotia. tions which funded· thef 26,000,000 lomanian debt to Great Jri ta.1n, ti tulescu and the commission. &rrlved in New York ·ci,ty on the morning of Nover.iiber 6, 1925.. Besides Ti tulescu, m.emb-ers ot the conraission included Eft.im1e Antonencu, who had traveled to Washington on a simiJAr m.lssion in 19221 Emanuel Clu1nan1 Director of the Romanian Repa.ra.tf.ons Commission, V1otor Bad.elescu and Savel Radulescu, financial experts, and MesseN 2'ffe·w 'fork Times (August 12, 1925), P• :,211. 2'Ner· tork times (AUgUst 1,. 192.5). PF 2,s. siaveaou and ·Cloton. .fhe.J were met at their sh1tt the A&:tililA6• 1'17 represen~tiv,es of the State .~4 fre&S\ll"J' Departments, Frank Hig.glns and Henry a. swart, ,:-espeo.t1Yel)'1 and by Prinoe B1besoo. !he gro-.p went to the Hotel Penn.... sylvan.la for lunoh. and then the Romanian Coxmd.ss1on ~rcled £\l'i a.fternoon 'train tor washi~ton. 27 !he CO~ssion wasW little ti•• in tasblncton. !he .tirs't 11tee1d.ng w1 'th the Auri.oan D~"bt l'Un4ing Cou.ai tte•• heacled by S~ea-eta.ry 111 b-ea.aU7 Andrew Kellon, ea.me on the a~m.lng of November 9, 192,. lhe 11e~~ .a.a short an4 b mo"4 s.nd.oa.ble, but the Amdioe.ns ,,-ere 1n the pz,oceaa of oon .. eluding xr..e,gotiatlons wl 'th l'faJ.y for 1.he settl•ment of he -.r debt to the Vl\l.ted State. an4 prefetted to postpone disoussi;ont with the lo~ untJ,.l those n.egot1at1ona ,,ere concluded. 28 As a roaul t 1t wa.s not until No,..emb•r 21 'tha't thG fl~t real effort vas ma.de to negotiate the R~lan debt. Romania 'e first offer •s rejected., and 'the Amer1~ rttU II ,,... r T ..•.• 21mew tork Ti.mes (November 7, 192.5}. p. 4,4. 28tt evr York times ( No11embeJ:" 10, 1925), p. 4011. 29N ew York t1mes ( Kovem.ber 22. 19 25) • II, p. 19 • 1, ,, Deoemb&r 4.,o This aotion removed what had been a Mjor oba'ta.ole to the procurement of a Romanian loan from At111lt-lcaa. capital, Vnder ru>rd\l circumstances the terms ot the agre&llellt wotlld appear ta.vor&ble to Romania.- The amount of the debt funded to1aled. $44,591,000, ot which 110, ,eo,166 ,-s interest UIA't hM accrued from 'th• original prino1pal of t,6,128,494 • the difference being the a.mOUnt al.ready paid. by Roman.ta. fhe payment o.t the n.r debt vAa extended over a aixty.. two year- period. wt th a. mOdest three percent in wrest tor the tlrst decade, and increased ••rea.fter to th.re& a.nd one-... h< percent. These -anns •ere al.mil.Ar to the agre•enta made by the United States with ten other debtor countries, Because ot the world econonu.c. a1 tuatlon, however; the problem was -·· ,not sotVed, but mareJ.y prolonged, At the -ti.me, however, the agreement r.as considered ao~eptable to both the United Sta:t-es and Rotaa.nla and \!ifl.s rat1f1~d by the legislatures ot bo.th countriea.'1 On Octobe~ 28, 1926, the final steps were taken on 'the .ar debt when the Romanian Legation at washing.. ton 4eUvared Roma.nia.n Govemm.ent Bonds• intended. as col- 1atera1, to tne Treasury Department. ' 2 '°New York 1'1mes (December 2, 1925), p. 2,,. ,1Ibid, J I>epArtznent of Sta~, 1!.u.t ot !tl&fll.lll" fm »· t. J "M ·, •·· .t_ . ' I II clear, and. S1i&rl4ar4 Oil abandoned. 1• claim :·age.inst Great IJ:'11A1n an4 b$i&n n.egotia:d.ons v:1 th the ~an ·,overmMnt. Ne,;oti.a1iona commenced in September, 192" and ended on. June ,, 1919. when Ronta.nla a.greed to pay tor tl.o damages inflicted on aomano...Araer1oana·•, pr<>perty in 1916 1>1 1he . Ang10 ... R~ian l>ea\t'U.otlon ~salon. *1'hls ee1tlement o&lled tar tbe pa,ment of px-inclpal and ao<,ned interest in bonu ~tu1.ng at repl&r 1nte:rva~ trro• 1929 to 1965 .. ·" fhe ,ROIDAAltm OOVemm.ent Bonds were printed in denomlnatl.oas ot fift, an.4 «..e hundred pounds (Br11d.stt. sterling) to a total value of i2t099,900 (approdma.tel.y $10,20,.500) and. wre cl•• to otficials ot aontano-Aaer1oana on August 26, 1929,. fv~ dAys previously the t1Nt ca.sh lnatall.ment on interest h\\d been pa.J.d to the Aaer1oan oompanr. '4 this amount w&s tar btlow the or-lginal claims wht~h Stand~4 011 had fl4•4.• ltandud 011 b&d be.Sod its el.aim. for daaages on the coe,t of the tGpl&o$1D.en't Qt the d.estro7M pr0perty at the curren:i p.rices, but the tlnal settla.$'lt wu determined. by the amou:at .,_,. had or1g1nally been eJt... p~e4 ~ constJ'Uc1 ihe tac1U 1:iea.. tht di:f'faence l;>etween 'the twa $Us• pa.rt11 due to the poatwra.r intl&tlon,. was fhe, qu9atlon of the falmeas of.the a~, ••••, has only academic per't!.nence. '.&e 1aportmt pob.t was not the amount of the &11&ris bU1 the a.ut.OUnt ct paymen:'8, ant the matter of col1ect1ons on the lat.rge outstand.lng German and Romanian debts was one which 1n future yeare WM to yield Jerse-r Standard few Mt.tatactlons,Yf !he cOJ'Qlnerctal and war 4tJb"8 had kept Roma.n!a from ob''taining a foreign loan. Which slle needed to atab1l11e he OU1:Teacy. Americana. es,:peclal.lJ, w•re unwilling to wve.nee tG0\\•1 to ROMnla while man, of hd d.&'8 were s'llll 011•~- When B-.Ula t.tmu17·414 ee'nl.e ~ debts ttu~ -..; -.a open to ea Aaedcan loan, bllt the nattonai.tstto econ,Ordo policy ot 'Ike Ll'bn'E\l red.me pre vented. this until 1929. At tbai time ROlllanii, sect.lNd a loan. p&r''t of which came froxa Amtriol.n banks. • Ln· ai . ,, ·, Boman.la WJ.\JS the nat1--.1isatl.on o.t subsoil NS$Voes. On Aprll 24, l.920, the lr:11;.lsh and Ft;-eneh oil magnates eet in a conference a.t San Remo and. prop~ed the dlv1slon ot ll\Stem. E\U'Ope into spll.eres of 1nfluenc$• vAlareby ta.ch e.otm.tr., 1n 1 ts s;phe:r~ wou~d. take over the ~ cc.mc~sslons ~- fl'wU ' ' agreed ,o. diV14e . 'bile conoeselons. of. Roma.n!a. between them and 'to eupport eaoh ~thers 1nteres1El,1 American oil men countered this by oe.11tng for an •Open Door* po11cy in l J;l.ghte. ree'Ric:'te4 ia.nd. ownershtp to 11.0D.lan1a.n o11laena; 'Whlle .A.rtd.clt fflne'ttl-,. n.atlona.U1ed a11 s\tbsoil re10t1rNs.1 Al thoUgh prmousJ.r· a.c.S.red cor,.oead.Gn.S h•l4 "1 the 011 oompaales 'WOIU.d be respeeie4, 'lb& resource& thetlael'fetl ~ the exc1ua1'.Y'tr prope2!17 of the State. ti• article . I ·, ,,~, C19) al.SO provided. f()ci- the ~•a&• ot a special ll1n.lns L&wi dilch would establish ,cnea 8-nd. conditlone 1:oi: the esplo1t&,.. tlon of aubsoll Nsourcea. fhls Ml.tllns fA.w ·hoame the s,.a.t .. esi o'1et.acle to 1Ylen4l.¥ reJA.tl,on• llemen 1llA ltd.W 11t1Atet . . and. MlUnlA .l,n th$. 19208· ' ' then 1 t ~caae. ~en'lt. UlU . in 192'i 'lba.t the propoeet ~ UIW would be detri.men•i "bO aon-Ronanlaa oil 1n,ereet1, tbe toralsn le&a1d.ons in ~e11t prepared protesw 1n be... halt of thelr nattonaa. Attled..can llbista Peter 1a1 dela,'M b.ts pro'teet, awai'CS.ng the rtacti.on ot the a~an covernaent to 'the lr-1tlsh note. · the JWltlah wok tbia· eppe'1Urd.tv to a.ir ae'Vel'al. grS.~ces held l)y the oU conspanlea a-.1nst ·'f:he ~an SQVernment•s pol1cl•, Pint; the Bomanlar.. govem ment fal.led ·tc>:. &ppt." , rut · w,rr ii r ·1;H11 1111u111Jt 41. 10 oil lands held in reserve but not as :,et drilled on. fhe . . · aerican pQS1 tlon · coincided wl th the fire t and ia.s t polnta ot 1:n, :&r1111sh note but not Vil th. the •econ.4 or third.'· Ir the middle ot .lf,U"ch, 1924, la:, beca.me convinced that aeve11\l pl:'OV'ia.1ons of the prop•ed Mining Law would be intol.era'b:1& :tor American oil 1:ntereet:a. On arch. 29. h~ handed ~eign KlnJ.stex- iNctl;. a· note wb!oh expressed hJ.a &pprehenston. tb\t,the enactment of the·~ Le.w, u he tmd:ei18tood it, wWLd 1n ·,tf'tt(tt: a11ena\e AmH'l.oAn pN>perty, wi tnout just qornp'en#ation .. 4 Dl.lc:A replied that 'the pr<>posed law ·haJl only reached the atu4J ,tAge a.n4 that dJ.tJc,.,tssion of it would ba premature.. flle Atlerican Legation we.a asawed bt no action WOUld b& taken cm. the ltirdn.g TAw un.t1l. ·tne autumn aeeaton of 1tihe Ro~ J'arl1ament. Repreaen'tl,i'tiYd of S1f4r\&ritrd 011 ~. however. brought to the attentl.on Of tile S\'at6 Department ·thfi\t. an a:,tempt 1'0UJ.d. be Sde to pa.es the JAW before the ~• reo-••. \1hen the State n.par1aen t warned Jay of this action., .b.e express'$d the opinion. that 1 t •s an attempt by the ~s.n. gove~t tG ram th& 141nf.ng llll through the P~l1ant.Mt before foreign act1ot\ could. be iAken.' Be spake w1 th J>t.tce. an •1 Zl e>:pressing his con~l'tl ovct the action. DUeet. claimed the objectionable f&aturett had. been removed trOfll th• Btl.l, but when it wa.a preaenta4 beto~e 1a.r1.t.a.ment on *Y ,<>. ~.,. reported '1\a t Changes were ins1gnlfloa.nt att.4 the Mw dr&ft ·v.ea a.. objectionable as th$ original. 6 Ul.e lrit:t.sh, French at:td Dutch joined Ja1r•s pro\eSts with little etteet, as the R~ ~liantent approved the Mining D1ll on. \he 29th of June, and it beca.me ~ on July ,, 1924. the pt-O'tisions of the l&w *1.ch C8.'Gfled the most v~ent protests bJ Anlerie&ne and otaent were reqtdrem.enta to eon... vet foreign ov.nershtp to a ma.jori t, of shares held 'b.Y l~an ca.pi 'ta.l w11hin ten y-ear8, the pa.rtlcipaU.on ot ft~ labor by aeventy... f1Ve pucen.t 1n a.11 oateg0:r1ea of eniplopent. including ~em.st, and cont1acat1on e.nd nation... aiiaation of All Gil plpel.tnes. fhis *Roma.nianlzatton• ot . ~ 'the pe•ol$Ulrl !ndl.tetey •• an o•ert attempt by th-e Libe-1 Gov~t to in.tb:ord1na,te .f'orelgn eapi ~l a.nd gain control of th .., ,·:_·'·-·••it •.• expreased the 1.'>ella.t that IUON could be a.ceOUC)ltsb.ed through f'o%:'tQf4l protests. 1 Aaeaq toN.1- reacrd.on to the M1n.tng Law had cawJ.ed a sharp fall in the rate ot axcb.ange for \be JJ&• and. th• loaanla.n eo•~t ha4 hastened to as.sure to.reign goJ"em menta that entoro.emont ot th& lAw WOUld be lax. the 1ntraned.ge:noe · ot the lt-...lm officl.a1s so41\. obanged la,'• nd.nd. ~ hlf 1a h• presented ouca w1 th a note ·ftf~. b1e l:'f!1t:Al.l. w washbston .. 8 1&1 used this. ~tunity to e.:xpt'$8S AlierJ.oan displeasure at Eh:!Vt?rAl ~es. hs1des tho o!l oon.troverq, the CQnne.re.tal lndebtedness 1,a.w, ~e vtW debt and the claims of A11h1rtoan ~ompan1es were cl.te4 u b&rri.ers to arnJ.oable relA-tlons 'between the t1n1 ted States and Romania.. Al though Duca rejected 4nter1oan -.eeuaa.uons u unjus'tlfi&d crl. tic1sm 1'tdeh inf.ringed on the sove~e~ty of RomanJ.A b)' 1nt.rfer1ng 'Ii th her' 1.nt&t"l'lAl atfaln, sev,n:.'Ell · conoili.atory aoves prompt&d Ja.y to a.mend b1a otficta.l pr•• release in regard to his reo&ll to Washington. lba't ·was originall,J' intended u ·Ga ott1ci.a.l rebUke of ime Romanian. govemmant over the Mtninc Law was m.odified into a •vts1t to Washing ten tor e:onterenees• eon.eeming the disputes. 1'he 1n. ~ ten11Qn.1 however. remalned cl.e&i.\. 9 Jl\rlf tn 4UgU.st. 19!4; Je.y 11.9:1,, to IW&bt!, JUlJ' 1, 1924 ln. ..ail, J..2~ .U, P· 615, 8,tu ta !matt•, July Zl, 1924 1n DY§., JiU ,U, p. d18. 9tlew fork times (July it 1924). p. th)J. (hly 29, 19!4), p.. 1916t Pea.rton, PP• 120.. 1241 also see foo'tnote 1. 44 left llueba.res'tt •topplng at Paris and London in order to determine French and ,Bri t1;1h atti tu.des wward the oil contro versy be.tore flnAlly arriving in YA1b1ngton. While Jay v.as absent. another problem emerged in Buoha rtst. !he new Mining Law prob1bite4 any company from, dril.l lns a v1el.l in 1 ts concession. w1 thin thirty meters of 1 ts boundaries.. Dlis mea.sure was dedligned to keep oil companies from, tapping each crtbef •a oil pools. fhe Old rules, however, bf;),d restricted drilling to fifteen IJ&eters. The proviaions ot the constitl.t tion of 19 2, had ~rantead. tna. t ~oquired righ• woUld be respected. However, sonte o! Roma.no..Americana. •s eon,,. ~:eseions were so narrow th.at no t'i'Glls could be drilled which would bem.ore 'than thirty me1era :trom a boundary. 1n the Y1ew ot Standard Oil this nullified acqU1red rights and. made h-$%' ema.11,r .holdings valueles$.. As th.ts measure a.tfec'te4 other oil companies alao. they joined in a o . , ,' ~ .';. cooperaU:on Jtlt not con.,un:ctJ.on wlth the Bii~sh, Jay po1a1e4 . \ ' out to ~(la.that the retuaal to a11ow dr1Uing within thlrt, meters ort tetd'IOey aoqo.ired ht~e enaetm•t of tbe law -.a eontra~'.to re,-,ed statent•ta bf the Rorianl~ govemment that ac~ed :r1ghta WOUld be let~ un.dls~b;.1a . . !hi.a.pr•ssure had.some effec't on 1h• RO~&n Mlnlsteft, tltey protd.sed that •aotaanianl.sa.14.on iaw • would not be en- .. · . forc,ed ~d assured St.r4\dard 011 that all requests to 4r111 w1 thln thirty aeters of the boundaries on land acqvired be.. tore the law WOl.lld be p&nted.1, tis uneaq settlement_. ._elJ a b'Uce v.ih1ch left cond.$.tions practicall.7 as they were before the law. The law remained b effect an4 would be enforced when Ute R<>n&enian 10Yeffuaent •a ln a bette pos1 tlon to do so. !he oil cOl'DJ)anies willingly accep,ed tbl.s a~emen.t, and the Oil con.troYersy tempo-.rily waned, In 1926 the 011 proble:n 9"p1-4 asain wlth the passage of an lnterpretlv& Law, which cleclared. that the subsoil re... PP. ,.,l~hes r~ .. to.... JS• ...;_ Ncwember 1, 1924 in,~,~~.·...... -1~~~... _u.· , l21Mats to ill• December 1, 1924 in DI!,, J.2i4 U, p, 646. 1'az to IMhas, .December 5, 1924 1n. fl!!., .W! 11, P• 647. aources ·ot ·embatie lands ( those lands· held ·und&r"pez-petua.1 l-~e). f/ff& .State property and eoncesstona agreed to b7 thi! owners ot embatic lands were null and void. 'fbls 1aw was retroactive to· July l 7 ,. 1'9'21 t the d.a.te · ot the Agra,rtan Re to:rm Law which 1 t lnterpr•~ed. Under the Agrarian Refot'tn · Law the. P~l1ament ha.d decided' thAt emba.tie let.nds were ex ... p.iroprlatt!M:l in favor ·ot the hold~ of the lease, Who then bec&m$ · "the ian rn • ·1 • P .r•• t t •• 14a&Ut.til.9.D to ~98&1 Febrt.Ul.ry 18, 1926 in lJW§.,. µ.&2. .ll., pp .. 902-905. . 15~1r:l~!i!i to lffUS!M• April 6. 1926 in DE• J..U§. ll· p. • 47 go'\f"ernment. however,· prevented immediate action on the 1a.,,, and 1 t was not until the Libera.ls again ga.in0d control. ot the goveffl?flent tnat,tbe Interpretive taw became a p~'blem. 1n. the fall of 1927, QU.bertson explained the American posi tton on. the ql,lestion o.t ~tic lands to Prince JarbU s tlrbey4 a former Prime· AUnister and still very 1nfluent1al. s·t.t.rb&y brQught the attar to the a:ttent!.on of V1nt1la lte.1d.¬ the mast powe.rful AU.niater in the government, »~t.i.anQ rielted CUlb,ateon on .NoYel!lbc 2,. fn(Jlf discussed the oil al tuation, partt.cuiar17 the emba1ac lands prolllent. Atterwa.l'ds·, Clllbertson arranged a ~etln& between Pl;tin.c41 Stirbey and Stan~d Oll"s representa:tive, Har~ o. S&idel, . at P&ria. Upon his return, SU.rbey declared that Roraania intend.ad to resolve the s1-.1;1on. On larch 24, l928t the l\f1niet• ot Indus'brl and eormaerce. or. Ludovic Mta1eo. b,.... formed.OU.a.bff"tson tha.1 -a11 concesaions taken b7 -ROlllar\O Am.ericana prior to the Inter,reUve Law of 1926 would be recolf)J.aed. • • and only the qveation of the ro,at tv to be pa.ld remained. l6 Negotlation.a· were undertaken be-CW.en the Ro-... .m.a.n govezrnmen:t and. StaAda.rd. Oil, on behalf '1f ROJO.ano... A.mencene.• 1n ord.c- to se'tUe the Q.UE+stiQn or &mbatlo landa .. the aom,anian. gov~t recoan.iaed. the va.Udl"r of the con•cts entered into by Roman.o....ADMrioana tor coneeeatow.1 •~ after the ~t•s deeiat.on (Febrttary, 1924) th&, 48 em.batlc .hOlde,rs oa subsoil rights, but before: the pro~, , ti.on Ot' the Interpretive Law of 1926 that embatio holde1'9 d.14 Mt 0vat subaoil rights. In retu.m Rom.an.o:...aerioana. ·-.a n ... Cltired to pay a :tour p$rc,ent ro,a.i ty on. th.$· gross produetloa of Gil or fltl.ture.l gas to the .State. R.omano-Arllet'ieana pro.... teawd because· 1 w convacw reqtd.red. 1 t to pay the landov«ter twelve pereent. !he Roaaiuan goYernment then 0tfered w conv.tace the land.o-..ner to r&®c• hts perceritQge bf threat enin, to oballense bis omeNhlp in court wb.19bt wnder the Xnte,,pr·e;l•e Law ot 1926, nUld resl.U t 1n hi' lGaing an, ,~~ant. A· convention betweea 10f810... AJter1~na and.1.-.nla. recognidn.g· this posttlon as well• a.1»:ogattng aevU"al ot;tjectl.oriable sec:tiont of the p:rovls1on• of the Min1ng L.aw of 19!4 tn re«a.rd ·1X> aomano...A.merlcana. waa dt11wn np, 'but, because of the •s1er hoUaa.ys, 1t rema1:ne4 un- . 9 1gn.e4, l7 fhe conven.tion vAS·· still. unsigned in JUne when new and mo:ce extensive reguJ.at10lll we:re proposed for the petroleum industry, 1'he !'equiremen.t that aevent,... t!ve percent o:t the en;>lo,-aes 1n thirteen categ.ories, which inclUdM nanagement1 b$ Romani.an wa.s rel te·re. ted an.4 strengthened because the ao.... man1an government cl)Uld decide who was ~ed. or tired. AlM natu~l gas produced with oil mwtt be separated., colleated and used r~t1.ona11y. 'tih'WI proh1bitln& the burning of waste ,gas, Moreov~. the s 'bate would charge a two percent tu ,,ti: ·; t: ,. : 11 ; . t - .1 r r 49 on an.v gas wasted. 'lbe government a1ao req,\dZed na1.uxtl,l tlow pumping of all wells within a year. lB ln the vier: of the Ainerioan Legation these regu1at1ons violated ltoinania.n promlsea that acqu.tr,ed rights would be respfi illl 1r· ·1 •. 'I . ) I ft J' ·1· -·-·if UH ~ tpVemmant hact never intended. 1IO sign, the convm... ta.on w1 th. aoun.o ....&Jaeri Cl\\nA ( l'lblch would have rem.ff ed. the obj~ottcnable ,features ot tl\e MS.ntng IA'W); · ant tWlt 'th.$: Government _. delaying the m& Law of' 1·-124, lt did iaodlf)' the law. thereby remo'ftng GI' r&d'Ucing foreign objeet1ons to the mining 0:odEt.t 21 Bev•i changes clUle about wl th the pasS$ge ot a new ·ltnLng Law on Et~oh Zl, 1929. N~ cQh.ceeston:a on State lands w&N permitted to foNign aa well aa natl.anal (i.e. i'1ft,.... f1Vt percent ROlllanian ownosblp) o~aa, the . nationaU;,, hqt.til'enten't toi: le.box- •• altered, &bOlishlng iihe categories and ata11A.nt; 1:.ba.t. seYm1:r-!ive p.-cent ot the ff)I •11··_.ilt I l.li ~- I! I ii t'lll"ll:Rl -"'• :..P~ w ,,11.uc, 1uu ,. 192a 1n IJI!• 1.2.a& 21Psarton, p. 1,2.. ' dCl\ts1V$lJ foreign. an, llbject.t.ona.ble te&.•es, ~Wff•• reuaS.ned in the ·MlnJ.ng Law <1£ 1929, The :features not eha.nged wert the $xpropria id.on. t>f c.11 p1pel1ne•• the S 1A te monop<>l.J ot txport rights and the reten.tlon of ,._ts.on and ro,al. tiea on 'the st•• WIOurtt o:t 011 pro.aced., 22 J!Ven wlth 1 tt abort.. o~•, -. JAw WI.I oone1deed an .laproV'ell!len, tMJ/1:· tbs positlon -~ bJ ~ Liberal.a in 1924., lb& problem ot 1ar,ge toreign e~tea dond.nath.E a natl.on*• r-es0tttoea ·'dJ.$ not a al.,.t.lon peeul.1a.r to Roaard.a in the l920a. It 1~ un4Mfs1Andal>l~ the.t a eountr, woa14 \IJ"&Ul"t 1'o· cOl\..-01 118 ·,r-esourtes- tn order to eon.ttiol its d.$8 ... tiny. ~t• fear ot explol1la:tton ··md torelgn dominatioat however-, reached radical p,:oportloru.h In &dc.il:-on, Am.erioana 'l!lere 1ntariai.bly rd.t)f&led out~- the cUlpritlt., Nelth.• th& 11".l t1 sh nor the French were Y1twed ,,ith u much suep,lcJ.on as the A.mmrlca.n.a. 4A ~le of thl.s 'fl&.S. the 4!sposttlon ot German Oil ooncesaicm.s Uter tb,e .Fi"t world•· When s~.1'4- 011 tried \o bur 'Ube allares ot the Glltman c~, Std.\ua~. th• I~ government. th.Nat$\&d 10· -r:&twsa" to n.tl.!J ·th.e tran.s1.ct&on. • ·and the PN3tct waa. dropped.. a, ~' an.4nil....,:Fron.ch tlhancSAl gr ,••••.•..• Ql ff d.M.. ·1 --~ .'n. J. I IDli &oqalred 118 &ll.a.:res bf a lGan trom 1• P~ a:n.4 Jrt U•h ~ers td:lfh th& sbl.\rea u collateral. '?bis lef't ov.nership o:r the e~ with the Prench and Brltlah un..tll the rett.r... ••t of ~e loan. fhe ena.ctlaen t of th• .~llning X..w Qf' .19!4 was de&tgned. 110 encouragli ·or farce 011 ·~e& w be~ome na.tS.onal eonvanl&a, the law a-0coapU1.1hed thla ·b1' na:tlont.Ullng m.tbeoll l"etSOVCet and bf ~Una 011 eonct.,s.olone ·on S1a>te lAnds on.17 to MtlQnal ®~e•. the needs ot.1bls d:tt>¥"t ie·J.ndiei1,t,t4 h;r Ce "t!elatiVe 4eol1ne in a~o~e31i.~ pro4uoUon ~ a.a p•r etnt ot th.$ ocmnt.rr•• 'io1-l i..n. 1921 1io 1 P•r cent la 1926.·•24 fbe ··Ubited s,a,tts•.. sapport at St.l.n4ari 011 in oppo... •ltton -. the Wnlng i;a.-. of 1934 :.ind 1 ts d1serJ.ml.natory pro.. v.ta1ons (,age.wt for$!.gn c~es) J.nevltabt, or-tad tension and Ul-feel~ befflC ttte two ~WI.ea. !bl# condltl.on vu agg•va-« ~- by a-.euabia, th$ Jttwiah p~bleia and commerola.1 and 'IA'lt deb1'J. f:jl •-·:auo',·n•u·,:r.··n1·ru ,- .,. ,._ fBADB A.ID !REA.Ul!St ffll fltl! Of 1Ui.4tXOIS At •• t:u.rn, of the cct.u'Q' Americana toNQlated a. .. policy ot un.r•tricted trade 1n oon.trut to the ~dJ.1d.OAa1 metb.Od of d1 Tiding the world 1n 1:o economic opMrea of 1n... flttence, Fire t applied to Cbina, Americans ad.vacate~ tis • Open .l)OOf" poUey 1n .an:, uea. wld.ch prom.teed prot1 ta'ble N .... •• business returns. +aer1can businessmen beli•ved that 1he, 'WOUld ha.Ye the advantage; 1n · free compeid ti.on ln those ~oun- , . . . ' ' , ' tri.ea which did n;ot have ep•cial eoOM!d.c v~ements wlth '. other cQUU:tries. Amertcaru, taYON4 an. Open ooor 1n aomania but they taoed innwaeral'>le dltflcultles • AnleJfioan hopes ot unrestricted. trade 1n JtomanJ.a ...,. des troye4 when tl\j Wb$X'al Party oamt to pow~ 1n nnuaey 01 192:2, Xn. an attempt to recover from the destitution e&lls,Ht by the w. tbt Liberals eDl'b&rked on a oOUNtt. of eoonomio n.ationaJJ.·sm. which 1nclttd&d extreraei,, hlgh e:r,or-t and. tmpm 41.ttiee. ~ high ilJl)Ol't :dutle11 we:re a pNt&cUonia-t IIOft 1n ta.or of Rounla's developing industries.l Al.so, these tar.. 1ff.a were dec.lgned to inhibit tmports in Olt"ds to produce a r\llt 1·; 11 r · 1J1 .- , 1·-1 ,.. Avo-1'le balenoe of ~de. H1gh &xport d.Ut1et wore MCM~ ~se i;if the drop 1n the va.lu.& of the .ltm, 1re4.e gooda cottld a ell t o'Yt much nt<>N O'tl~1dt ot R~ and ~XPOrt' dutlea iwev•tt·d '\he usm.tl&l conmtodit.t.es f?-Oll lea.ring tht oO't.lntrft· tnua Jieeping the co.a 't of 11vinl do-,n. other •xp(t~t res tri..o t1.0M directed the ~de of 1he new p.rfflnces tra traditional mai-keta .t.n,o tha detmti:t'l1c ~e·t. Si.net 'the ffl;POl"t 4ut1aa . Wfll1t ~ble 1n g4ld o~ rore.S.ga aon&r.·an.4. wtnia tl)e g~tee . , .. the publJ.e del>t of i~* 11. li•~ diffieult to &ba.nd9n.~.. a The ·er had· @~P1ed ao~ •tt•• ,Acri.e10.:ture, .. blaia for 1omen.1a•• ~cen.oniv, ba4 euftered 11~ destruction Ind pill~. . !he .land :refem J>\ws, passed 4V.lng 1*v wa.t", 41.Yided th• ia.ncla ~ 'the paa-nta and l.~d to •u1--.nt1a117 dec~s$4 ylelds of .peJ.n par &ctte. 'the peasants could n<>1: a.ttoar4 thG ~ene1v1 tan •c~ which bad 'been used 1n . th$ tltlda pdot: to· World .- One.' fhe iresul t ·VJAS ~ r~ ~on of a~•s •3_. -~ coto.uu,dl v, grain.. BVen ,-.e, ,. the cra,1n produced could fl.Qt reach the ma.t1:tet beeawl~ of tba ls.ct ttt ~orta,U.on becau, of 'tbe de.sU't.lction ot rail~ ~. 1~11:,,fle and tm~ d'Orina th• •• 11 tnout the g~'t sur,iwa· Of 1:t<\in ,whJ.ch Md b~t w•lth to R~ befQff tht l'Al"t a eufflalent ~-tot '' torelgn e,ccl'ange cOUld not be obta.lned.. 4 simply, ROtna:rd.a bad no money. tis ·si't&a:ation reaulted· in a .Ver, ~table ~enc,,. Wblch bl.a b.een d.lscussed peY1ous1.y. »ece.ue of R~'s shalqr ec0riom1c con.di ti.on 1 t was d1tf1ou.l. 'b fr»: aoma fl - > nlan .tfla'oh&?'.tta w fAY' cash. . otwn a· ·me:rchan t wwld ol'dw , prottucw t . but, by. thtJ time ~ r:~hed him« ca:rrenct depre cl&tion nUld raise the price 'too· high to:r the mercllan t. to, .____ - ae11 the P"d1.tc~5 Romaniaft ~- needed to bt\V on credit dth a low interest ate and. wlth a long peri.Od far rep&,m-ent., .A.iaerlcan COIQp&tUea were reiu~tant to entff Into •ucb Agreements tor aeveral 1"ell8Qna, prima.r1l3' because of the s~ decline ot the la• Secon41.1, the distance And 1so1a.... tlan. ot Romania on the BJ.ack Sea ma.de 1 t uni1kely that the 1fA1 ted States go'f'emm•t cOUl.d. protect Amer.loan. 1nYea1-onte. !blrdly, American ~- vmlcft had traded with Roan.lane b!t.d fa.oed d1ft1cul'ir in. c01ltctlns their debtef. 1.blallt, 1*e GQactuumt -of the motatoi-tum. on, private debts ond 11y' a~ dls~_ad A?llerieen 1'l'fl4•• In Wctlti.on to these tactoie, 4mecl.can good.a were nl>J•ct to high import tadfta.' In 1912 the Uni tad. S'ta-tes negoti.a'tie:d a mos t.:tavored. na\\.on agreement w111,h Romania, 1'n the prnar period 'lh• lm. por-tan.oe of American vMe 1noeastd until the tW. w Sta.tea 'i±illiU•• .. l JI J f Jl')( t tr I XMnrai · ,Od'o~~:,:t~t1!' lillA ID4 • r.am a,_.. 5:aoberts, Plh 61 ... 11. 6"1fh.r 'tile Qlleen o11 ROIIIIIZl1a U Here,"' tYfrl 11&.uil (October ,o. 1926), P• 10, lfew 'fork !1.mea ~ * ··,~. lh 2,2. ranked !ifth among n.a tions trading w1 th Romania. Th& •r ln:ter.rupted this trad$, and when conr:U:tions inside Romania began to a iabiliae. the Liberals W tiated .a polioy of eoo... nomi.c na'\ionaJ.ism which 1nh1b1 ted a reaump-.J.on. of American trade. 'l'be L1beru Part,•s poUcy greatly damaged agrioUl.... ,. ture, which produced Romania 'a fflil.jor -trading commodity, The situation has been eloqttently described by David Mitrany in his cJASsic wo't"kt .k ~ 86. lbl Ell~ ~ ~· I.1 agricUl tur-e vM to ca..n.,, th• State on i w shoulders, 1-t woUld first have to be ·helped on 1118 feet a.,a1n •• u Xnatead. .. o!f'icJ.a1 pol1e7 barrtessed i 1.ael.f w the atn.b1 t.iou• .J.de&J. ot aojzh1v1ng national .". elt...autfio1eno7, ao,. only did .£the s ta · . •trive to conjure u.p a n.a.t.tonai industry - eh, 1 t ?AB clear. could not have &at1.af1ed the eoun.vy. •• lmm.ediate neet1a, ;~t a1ono g1ve a surplus wi:1'11 Which to purchase lndl.s. p&n.Sa.ble goods from abroad - .but 1 t tried to reach 'that dl:tficul t goal wi th.:>ll't any- toreign help. t'ald.ng •through ouraeivee• as 1• motto, it atttmpted 110 create an artif'icial !Ad.Ustt-y with suoh means as coUld be aqueeaed. ou.t o:t a wom out c<>Ul'ltry, and. moreover! at the same time r6W.loriae the exo~e. fhe ineV'. rble resU.l. t ~ a harrowing stringency of money. !he r esUl t ot the Liberal Party's polic.r \'AS a decline in the Yalue of Romania •a m&.j("4t export, cereal.. Deopi te th1a. the low value of the la ma.de Romanian cereals attractlve to westem EU.ropean countries. Her:-e Romanian cer&a.ls eompetEid directiJ ri th American producw tor the European, market. Die l&ck of transportation in Romania. however. ma.de 1 t difticul t 'f;o take a.dwntage of this market. In 1921, Svd. tzerland drop. ped A.mQ'J.can grain ~a.de in favor of Ronianian cereals but, t11tt•11 ••1.r·.1 r.f , ,. beoattse of the tl'IAsport problem, 1 t waa. ne:cea•u:r tor Sw1•• truck• to go to RO'aaan1a and get th~ O'f,UA.e·· the ll).041 Yal.U11ble crQPtLexpo.rted to '11:e Vrd;ied States. fr~ ll~a were .inu1.111, ·fur eid.ns, b&e'I pulp, glue and b.ana, 9 ··the. ·VA£ w s ta~ sold· _,.tl.J' j,,ndustr!Al m&.ohln.er,, Ohletl.1 •~pment ff>.!! ·the petrolfltim J.n4UstrJ/• •• \'fell aa taa · macb1neqr~·,.auwmob.t.1es and vece1-ble ~~ow.1° !be promt.1. klg Mlt~et"J.n R-oinania # oloa•d in 1922 w1t•' the Liberals 1n81411l~ '1te-ir pollcy ot.bith taritts. the Ronaantan «OY•m• ••1J t~ted 4'he ·iaoat...faVOf'ed..;..natlon tztea.1mtent of .A.Jneric&n. goOdJI. on· •r a,. 192a, and tie.dtJ between the two countries · d•cUned, 11 Artw 1924, ~can exports to Roman.La ~eaa&d 4esp1te a.11 the restric'ld.ona pJ.A.oed on them and the ~ers 1nvolYe4 . in ~ with a~ merchanta.12 fhe increase in 1ztlde and the Romanian polio, ot hi.Sh witta pronrgted the·Amerl-. ..· Miniato .tn .atchareat, 1f1ll1am OUlb.-wo.n, 10 vnder1ake n-.... •• ... .• .,,1 Cir... If '#ulPiill'iU. 611 F 'ue• ~ork Times (s:epleta'kr 28, 1921),, p~ 21, 2. ·~De,o&t1ment ot aommerce, 1ur-.u ot roretgn an.4 noatettlc C•zuri-e•, lf!'iESI J.2&, 11. llli¥D ~-,,..~ .!Nton., 19~ p, 4~TD&pa~tffl'i/llk; if COt11Aeroe~ -~u ot For. . rtti:~~~.,~T,2: 1WitP11• la 1&.-s ~ 10DG.partment of' oomerce1 :aureau ot FOl'e~ ~d DOJaes:t.\c COmmerce, ~ f~ (se»tember 15, 19,0)* Nuber '1, P• 6'9 U c t . ouo t P• ,,s. l.ti2~l~~'fto~:;!?1~~;~:ep,,tf.Jll 81\ ~ SJa:IJ Didi• 1~.1 lmmJ.i ~Xl, l1 tniJ.ia aYa1da, P. 4a,. tiations to reestablish m.ost .. tavored-nat1.on relations w1 th Romania. CU.lbertaon intended to obtain a complete' treaty of :f'riendsbip. commerce and naviga. tion. but the Romanian govern.~ ment was unreceptive to such a treaty. Instea~ the Romaniall8 ottered~ exchange ot notea which would regulate commerce on the ba8is o.:t moet..taffred... nai!on treatment. CUlbertson fAS. d1sappoJ.n.ted1 but he accepted when Ion Duca, the Min.1st.er for · Foreign Attain, usu.red ll.tm that the exchange ot notes would not be used as an. excuse to d.elay the negot1atton ot a. general commercial treaty. On Febru&ey 26, 1926, OtUbertson and Due& met at the American Embassy and exchanged executJ:re not.s w~ch provided that ea.oh eounvr WO'Uld receive treatment equ.al to that afforded the most-f'avored-na.tion, This agreement .ta.. eluded favored treatment on both import and export dutiea,.1' !his agreement provided great impetus to American trade with R0tr1ania.. American exports to Romania climbed .from $2,199,000 1n 1925 to $4.92,,000 in 1927, while imports from Romania. reached their highest level of the l920S in 1926 w.l 'bh a total value of slighti, more than. one illillion dollars •14 trade with Romania became much moN attractive to American buain.~asmen. · American automobiles outnumbered motor vehicles imported tram other countries. and the Romanian.. government inn ted In tema tional Telephoae and telegraph Oorpora:tion of 1:,9t:b1£~9A to March l, 1926 1n zm!l, l,9.A .ll,. p.. 8981 epar ent oC~~e;'l~e:· Zt:;!:b: s1t1,e,s l!l!ll~ef-ID.\Wisli": ington. 1926}, pp. l-5· 14oW&ti.&i IGSUi:;$§ lfJlmltit JI, p. 6'9 in ROU·Cek, P- ,,s, ; In 1927 the ROI4anian. government began the negotiation of special commero1al trea ti.es w1 th her trading partner&. , ' !bis j eopardta.ed the vn1 ted s ta tee• position as a llOB'L tawred... natlon.. The pUf'P'de ot the new tree.tlea was to in- , crea•e tariff• in order· to pro1ect R011a11ia.n lndustrid., Al ... thoqgh the agreement ot Peb~ 26. 1926., rtffll8.J.ned 1n force, tho U'nited State-s did not pin Ol' reta.ini&d:1'B.ntages recaived by the countries a.peeing to the sp'9c1al trea.U.ea. The toms of the treatiea proVided tor htgher ta.riff's w1 th apecia.1 ba'r... gaining based on ~ and mlnimum rates set by Parliament. !he rates ooUl.d be changed 'by Imperial deeree to prevent dwnp1ng of a particw.a.r product, Moreover, no gen.Q'&l blanket moet-ta"°red~na:tion guarantee would be g1 ven. ln add! t1an1 the treaties inclu.ded. two 11ats o.f products. Lia't A ~luded &l..l pt-o.duots whose rettes were established by the Parlia.mGnt a.f'tar tat-1!.f bargaining w.t th other countries.. List B WO\ild be a.1.1 a.rtioles which Bot!ilNA was willing to gt"• • f( ' t J # t 3f ' t ..•. t • ua& 'that oppa.rtwu. ty ·to··pressure Romania. into a favorable oo~elal mat:r. but Secretary of State Kellagg refused to usooiate an American loan with the negotiation of a commer c1al trea.1;y.t7 On No"tember 2!1, l929t the American rtt1nJ.ster in Roma.nia, Charles s. Wilson. wQ.S notified that the provi.sional commer... cial. ~eelt«it or Pebr:uary 26, 1926, would b, abrogated .. The terms o:t. the Romanian govemment .. now controlled by the l'A... · t1or.tal PaasantJ Fart:,. vlera much ntOl'e favorable ·than those tems oftered 1n 19 a?. A comiaerQJ.al ~aement, to replace the exchange of notes ot 7ebrttary 26. was signed in Buc.harelt on August 20. 19,0.. 18 · fhe Uni tad s tat&s ~ more suooessful in negotta ting treaties o! a non-conne:rcia.1 natu:re. ourtng· th~ tense p.-iod ot RO?IWnla.n-A.m.erioe.n :relations (over the Mln.1.ng Law) in 19!41 ..Peter.· Jq took the opportunity to press for the eortpleti~ of an ext~di tion treat,, which the l1n1 ted. s ta tea lfid be• unable • obtain since 1892. On. Jul;v- a,. 1924, Jay and DUca me.t at the Romanian PoN.lgn Office and signed the treaty, Appended to the treaty vAS a note which excluded anu· pert3on from being Qxtradited frOlll Romanta who might be tried tor a 61 ca.pi tai offense. 19 RomaJ.1.ia dld not have the death penaltt a.nd did not ,~Ant to deliver a CJ'iminal up to the death s.,_ tence., Ihm the trea.1:y came Up tor ratitioatton 1n the Amer. ican Senate th.is a.ddi tiona.1 note threatened to block accept.... a.nee of the "1:'$G.'t1« 1'he Senaton 4)Xpl'$S&ed conc&rn that sueh an uemptton would make Ro.-ila. a. haven tor murderers. Be.e ... ;etar1 of State Charle$ ~ liUghes retuted. this id.ea anc.\r c:1 tad se?era.l e.xa11plea &1 proof, He advised the Senate to pass th.& tr.a11 in its prea.en,t torm. which ,.e.s done on Peb. ruary 10 r 19'25. 20 ?n th$ spring ot 1928 the See.re~ of State a.pprv&clled the Romanian Mirdeter w11ih th• purpose ot negotiating trea ties of Arbitration and CQnc1l.1a.Uon between the two coun.,,.. tries. The Romanians. however. insisted on insert.t.ng into 'the Arb1 tra:t1an tree.1',y, proposed by the Uni tad S'tAtes, a pusage which began, Whe provisions ot th.ls ••tr; which concerns only dltftrences between Govemmen:t and Govern... ment, shall not be in.Yoked in reepect of any dispute the subj eot lUA't'ler o:f which • • • and ao on as the American draft read., 21 By restricting th& trea't3' to disputes •between Govtrnment and Gov&rnmdlt,• the Ro~ant hoped to exempt the arbitration t)f disputes which 1 • I , 1 • • t ··- .I It• :.a··,, might arise between the 10.uan gov~ent and American oil. interests. 22 fhe United States would not concede this· pC>h'tt and the negotiations were suspended. When the National Peasant Party replaoed the Liberal Pu... v in the Romanian govemment, negotiations began a.runt, '?be Natlonai Peasant Part1 did not !ns1•1 on protectlng the prt "f1ous pos1 tlon tovArd. the oil 1naustry and agreed to the s ta"le Depa:.rtinen t • s propo••d tr.ati ee of Arl>i tra:t.t. on and. concil1atia.n. The ROD'IU1ian Mlnlster at Washington, George Crfr.r111ano, vAS empowered to sign the uaatiet. Nee;oti~ttons were cQnclude ..... 'l ... Iii ,ll I.Ii W ill 1i0\ l RPM ·~ r, 6, ad fl'lct1on between the Un1t$d Sta.'tetJ and R~a ov• the probleml outlined 1n this srtudy, nwnerroue attempts ~ made to ·concl.Uat.f! 'relations between the two States.. Ver, active groups during thls pe'iod were the s ociet, ot Mends of R~ll tn. the tld.ted States: and 119 ~~ 1n. fto8\nta., the SoQ1et, of ·Friends Of the United S1atea. !ha Am~icen Societv p\tblia.l:w!d an. Uius'b'at&d qUU~ly •0~•0 and ~ &dvaneed ~iendly r'$1&tlona whll\evtr ·p09S1bla .. 25· · 1.he ---1•·.·lb! ~ S1a.1*l, d well aa thereat of the.. \t9'9l41 an4 preTen.ting Aaaioan. bus!n,eSsmen from teJdng advmtage at trad& \\14th IOZQ.anla. i'he ten ahc>Jrt ~4ars, 1920.... 1929, bad. been a gOldc oppotrturd:ty. Tlnh.ampered bJ powtrfl.tl a.eighbore., Romania t-ema.i.n.ed too jli;)alOUS. of ,lndependence to 1ak$ a.dvart,tage ot the opportunt ties ot torelgn. c&p1 -.1. Xn the ,-ears o.t de ... presa.t.on and danger which foll<>wed 1929, Romania never ,, rega1n:ed tbe &d.van.ta,stous pos1 tlon she held in the l920I. tncreas. ed American trade in the last halt of the· pe:riod improved reta\1.ons between the United s tatee and a~-.. but this ~de neTer reached 1 ts potentiai.. Am•rlcan 'trade eou.ld he.Ye played a. sch sr•te.r l"Ole 1n Romania's eeonoq, wl th ben&tl t to both cour.ttt1es • Etttn though American money n.eve:r enter•d Romania 1n Q.U&nti ties as great .~ other c<>im.. wies, the ··um. teed states And 4:mericarui plq•d an important r-•le ln aol1alian history ot 1920--1929, SELECTED BIBLIOGRAPHY Departm. ent ot. 00:rm:rterc. el. beau of··· foreign and .o.es'tic com. , merc:e.washington.1 aummi .· ~~. s .2,0GoTernmen•. lJ.• t ~~·ifl Depar1m~<>t sl:tei:"lfifb.t:·oc.~ ~tp~ f ·msPnilihovemment · .· ng ~:t!ice, 19:,2. nepai-:~M·~... ·.·. ·· ~J~.!ivlfttftlhfial~~- . 'fiintrng · e~~. ~tmen't ofS1at&; · lm'i if~.&IP.'ft IIJ.IUfl . -~~fffc~;i;,9;g; ; 7 ·a · ~vermaen* Depar1aaen. t.. •.·t state~,.. . ·jf1!1' ~ ~ ~~ !loia.,"P. .Rf Jib.ft. ~m S · · 1,2-: .. • • waslil.ng . . i OVtnmten , Jiliitini · 013; .. 9 l. J>el)ai'!mt···D1J·'1~.:·~~--~~-StaGll'Wemmiiii Iii. ng ·. tioe, i94a. oeparimCkrtemmen.t... ··· ... ent·o·t Sta'ta.. Prtn ting..~.······.•.. · ·. ·. ·1~ I. .. &111;• . lll· washington• D~ttn,t. of Stat~. ~ff §.ma..•.. ·.·· .. lU• Ylaald.ngtQIU G~tnt btnting .. , ·l~,~fE. ·.· • · »-,ar1ben.t of.. StatG•. J.~tl l!.4- Washlngtoru Qff~t hlnti:ng=··~. -1~ . II . . De,uttm:ent ot s. 1a~•. · . -1ll!E •· Ylaebin«ton.t lff~cent Pl'intt:ng.my . lt~.. ~r... . Depu:"-$llt o:I ~--~·...... IM&:i• H .:fmi.··.. lat• 1920... 19:,0,, S.Sn.tngton: · ov~t tm•. · ·.. ·. ·. .. . .· 'Ultrci, 1921-19'1. P1sh9ru:;::1~:~,~~·~~~~~· l>ivie1on).. laablngton• Oovmiment Printi.ng Offloe, 19.S,, Foreign··· to.... lier O.tfiee, . .i\..lAi I:ffW S. .. Nfi: CXVI. Londwu .. • . ·l•tJ . . t on .1,~~a;;., m.uk •. ~1• .Vp••· .. *Hopt Ve1.11• 1espair 1n oen•ai -... rope.• . ar.t&IU 1\11:Mli• DI CP&brliUW¥+ 1922)• P• 181. • • A ;-.-~~rc:;. 26~~.-;~ ~~."'~bl$•,. ~ .... -new ~t!:aitlon o:r &uman1a1 • tr, 41'tlwr Jning Anflr••· .~ l\a~, mxz c_Septemlu.~•• l.92'), ;n. 1011.... 1024. "Rn ·(Ima ti tu\1..o.n Of IbUtan1a1 • .fa.*. }t. lo Ko Jaln.. I~ CXVX.t (Septmn.~r l2t 192'), pp. zt4-Zl9. IP Im .~., ®1111920 ... 19:,0. Os, bed.enc A, .. •ae'btdl4ing the EconoI!tlc Lite of a~la. • IU~ Ji&&ISD:, UXZI (JU.lft 19,0), pp. 725.7,1. 68 -to~~9h~l;:'1~:s·• i&B.£111 Ii.MIS, LU: (StPtffl.ber ~nian 011 and ,o,..et&n llon.ey. • &'.!i.m, cxu (September 17, 1924 ), pp. 29,-296. · •111y 'tb,e. Queen of l\owaanla J.s Here. • 1,1:lllm Il&id,S• XOJ: (October ,o., 1926}, p. 10,. , Clan,. Cbat'lel.. Up.eon... .llAUH.•. ·. ·. lfllaDii• New YGt-rkt Do.ddt Mead, i.nd co~• ·~ Qranet John Gl.1ver. · ,lt&I. i&l&ti &l!M!I• New torlu Dcmi11tm .and co,».p~ • 19 ,r;- · JJt.stenan,. Alexander... L. '1n&.····. Ja.ta., I\UII £\Q i'I.Rl!Sli• Lon.dotu Gollaaes. 1~ · Rober't\$,. Hanl"'.. ··.• y .. L. ~· qij~ Eljf&I .it.. &.. ·· ... · ~,tin !.ifiJt• Nttw Ke.Yero ale · · Vera t, / .-s, W~ Rouefliffl:a'!~~· "'~~-ftIf;, Seton..i~:~~1\~~~ ~~Jtt Speoto1:.. ·.'.· ··.s.·.n•rnuan .•. ·...... aa:.·.··;ti.i .. d..· ~ ~# :\ , .at .·' ·.······Q·. ' ·, , . • ...... al·.· ·~4.. -... 0 ·...··.· ·. ·· ..· '.... if . • ., 1~tw !~k~:li~man~~~aor» ·.·ati4, l;;~ · · n ) YitA ky ?..ynn Sml th candidate tor th& DegJ'ee of MUiJier of Arts ~1s1 )U$llU~3S AND fflE J'L43t A.MBIUQAM ULA!IONS Wiffl IOMAtiiA l,92o.l929 •3or J'1el,d1 Rlstol'7/ Jiographl.cal I Personal llata.1 Dom tn Ada, Oklab.oa, . r,a.y ao, 194,, the aon ot Mr, and. •· L. A. sm.1 th• . Bd.uoa tiotu GndUated f.rOm CUl. J. Albert S sniO&t High . school. Mittwes t Cl.t,, Oklahoma, .1n *Y, .196? J received BaohelOI' of Arts degree in His~ mm . l\toorh.. ea.d s 'ta.ta 0011~. •• Mlmesota, 1n March.·. t . 1911.1 coinpleted r~quireme.n.16 for the *8tero of Aru, degree at Oklah~ State VniYen!:tq in. July. 1973,