This standpoint was most emphatically set forth, and not without some success, on February 5 at a conference with the Reichskansler. In the middle of February the Emperor sent a personal message to the German Emperor cautioning him against this plan, which might prove an obstacle in the way of peace. Roumania was not advised of these demands until comparatively late in the negotiations, after the appointment of Marghiloman. Until then the questions involved gave rise to constant discussion between Germany and Austria-Hungary, the latter throughout endeavouring to reduce the German demands, not only with a view to arriving at a peace of mutual understanding, but also because, if Germany gained a footing in Roumania on the terms originally contemplated, Austro-Hungarian economical interests must inevitably suffer thereby. The demands originally formulated with regard to the Roumanian railways and domains were then relinquished by Germany, and the plan of a cession of the Roumanian harbours was altered so as to amount to the establishment of a Roumanian-German-Austro-Hungarian harbour company, which, however, eventually came to nothing. The petroleum question, too, was reduced from a cession to a ninety years' tenure of the state petroleum districts and the formation of a monopoly trading company for petroleum under German management. Finally, an economic arrangement was prepared which should secure the agricultural products of Roumania to the Central Powers for a series of years. The idea of a permanent German control of the Roumanian finances was also relinquished owing to Austro-Hungarian opposition. The negotiations with Marghiloman and his representatives on these questions made a very lengthy business. In the economic questions especially there was great difference of opinion on the subject of prices, which was not disposed of until the last moment before the drawing up of the treaty on March 28, and then only by adopting the Roumanian standpoint. On the petroleum question, where the differences were particularly acute, agreement was finally arrived at, in face of the extreme views of the German economical representative on the one hand and the Roumanian Foreign Minister, Arion, on the other, by a compromise, according to which further negotiations were to be held in particular with regard to the trade monopoly for petroleum, and the original draft was only to apply when such negotiations failed to lead to any result.
The German demands as to extension of the period of occupation for five to six years after the general peace likewise played a great part at several stages of the negotiations, and were from the first stoutly opposed by Austria-Hungary. We endeavoured to bring about an arrangement by which, on the conclusion of peace, Roumania should have all legislative and executive power restored, being subject only to a certain right of control in respect of a limited number of points, but not beyond the general peace. In support of this proposal the Foreign Minister pointed out in particular that the establishment of a Roumanian Ministry amicably disposed towards ourselves would be an impossibility (the Averescu Ministry was then still in power) if we were to hold Roumania permanently under our yoke. We should far rather use every endeavour to obtain what could be obtained from Roumania through the medium of such politicians in that country as were disposed to follow a policy of friendly relations with the Central Powers. The main object of our policy to get such men into power in Roumania, and enable them to remain in the Government, would be rendered unattainable if too severe measures were adopted. We might gain something thereby for a few years, but it would mean losing everything in the future. And we succeeded also in convincing the German Secretary of State, Kühlmann, of the inadvisability of the demands in respect of occupation, which were particularly voiced by the German Army Council. As a matter of fact, after the retirement of Averescu, Marghiloman declared that these demands would make it impossible for him to form a Cabinet at all. And when he had been informed, from German sources, that the German Supreme Army Command insisted on these terms, he only agreed to form a Cabinet on the assurance of the Austrian Foreign Minister that a solution of the occupation problem would be found. In this question also we did ultimately succeed in coming to agreement with Roumania.
One of the decisive points in the conclusion of peace with Roumania was, finally, the cession of the Dobrudsha, on which Bulgaria insisted with such violence that it was impossible to avoid it. The ultimatum which preceded the preliminary Treaty of Buftea had also to be altered chiefly on the Dobrudsha question, as Bulgaria was already talking of the ingratitude of the Central Powers, of how Bulgaria had been disillusioned, and of the evil effects this disillusionment would have on the subsequent conduct of the war. All that Count Czernin could do was to obtain a guarantee that Roumania, in case of cession of the Dobrudsha, should at least be granted a sure way to the harbour of Kustendje. In the main the Dobrudsha question was decided at Buftea. When, later, Bulgaria expressed a desire to interpret the wording of the preliminary treaty by which the Dobrudsha "as far as the Danube" was to be given up in such a sense as to embrace the whole of the territory up to the northernmost branch (the Kilia branch) of the Danube, this demand was most emphatically opposed both by Germany and Austria-Hungary, and it was distinctly laid down in the peace treaty that only the Dobrudsha as far as the St. George's branch was to be ceded. This decision again led to bad feeling in Bulgaria, but was unavoidable, as further demands here would probably have upset the preliminary peace again.
The proceedings had reached this stage when Count Czernin resigned his office.
7
Wilson's Fourteen Points
I. Open covenants of peace openly arrived at, after which there shall be no private international understandings of any kind, but diplomacy shall proceed always frankly and in the public view.
II. Absolute freedom of navigation upon the seas outside territorial waters alike in peace and in war except as the seas may be closed in whole or in part by international action for the enforcement of international covenants.
III. The removal, so far as possible, of all economic barriers and the establishment of an equality of trade conditions among all the nations consenting to the peace and associating themselves for its maintenance.
IV. Adequate guarantees given and taken that national armaments will be reduced to the lowest point consistent with domestic safety.