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Law No. 3,500 Of 23 July 1921 Concerning Liquidation Of Damages Of War And Internal Public Debt Amortization

Original Language Title:  LEGE nr. 3.500 din 23 iulie 1921 privind lichidarea despăgubirilor de război şi amortizarea datoriei publice interne

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LEGE no. 3.500 3.500 of 23 July 1921 on the liquidation of war reparations and the depreciation of internal public debt
ISSUER PARLIAMENT
Published in OFFICIAL MONITOR no. 91 91 of 28 July 1921



FERDINAND I, Through the grace of God and the national will, King of Romania, To all present and future, health: The legislative bodies voted and adopted and We sanction what follows: Law for the liquidation of compensation and amortization of domestic public debt + Article 1 The product of the exceptional progressive tax on wealth and enrichment of rasboi, shall be affected before all payment of compensation and amortisation of domestic public debt, in the conditions set out in the following articles. + Article 2 To repair the damage caused by rasboi, the finance ministry will issue compensation vouchers of 100, 1,000, 5,000, 10,000 and 50,000 lei each. + Article 3 Decrees-laws with No. 1,852 of 1919, 3.795/918, 1.656/919 and 1.794 of 1920, are ratified and the findings of the damage of rasboi made by virtue of these decrees laws, as well as those already made to the new provinces joined, based on the rules there established and what will be recognized by the ministry of finance, are admitted by the State as proof of the tried damages, but do not constitute claims except to the extent that the State gives in exchange their vouchers of compensation. In the help of the daggers of the old kingdom, the State comes to the aid with 3 billion lei. The Ministry of Finance will issue damages to the compensation voucher, for the full value of the final decisions that hold, if the damage found as a cost price does not exceed the amount of 3,000 lei inclusive-the damage related to the body effects and furniture, counting even up to this limit for half of their found value,-the coefficients of expensive not entering into account. The damages of rasboi who have decisions for damages of more than 3,000 lei, will receive compensation vouchers for the share that will return them from the global amount of 3 billion lei, from which the damages paid to those who tried damage less than 3,000 lei. In no case damages with amounts of more than 3,000 lei will not receive an amount of less than 3,000 lei. The amounts allocated with the opportunity of finding the damage, as recovery coefficients, will not enter into account, and on the distribution of the amount of 3 billion lei, the damage related to the effects of body and furniture will be half counted, unlike the damage regarding buildings, in agricultural, industrial, commercial households, which will come in competition to the distribution of the amount of 3 billion, for the entire value contained in the decision finding damage. In the newly joined provinces, the State comes to the aid of rasboi daunatics with the amount of one billion lei, which will be divided depe the above norms. In no case will the share share be higher than that related to the damage in the old kingdom, but if it will be smaller it will come with a later law. A special commission appointed by the ministry of finance, by high royal decree, will make the distribution of the amount of 4 billion lei, based on the norms established above and the subsequent instructions of the ministry of finance. + Article 4 Those who received in the account of compensation advances in cash, in materials or cattle, will only be able to receive compensation vouchers for the difference between the advances received and the claim they would be recognized. If the advantages granted by the State to a pest of rasboi are higher than the amount that would be due on the basis of art. 3, the pest is indebted to the State of the difference in money, according to the provisions that will be taken by instructions. + Article 5 The compensation vouchers will bear a interest of 1 percent annually and are non-communicable between vineyards. The state is obliged to repurchase the compensation vouchers issued, within 10 years, by registering in the budget or the amounts necessary for depreciation and interest. Compensation vouchers will be received at public houses only as payment of the amounts due by virtue of the law for progressive and exceptional tax on wealth and enrichment of rasboi. The compensation vouchers once entered in the public treasury as payments of the above-mentioned tax, will no longer be able to be put into circulation, with the ministry of finance obliged to destroy them. + Article 6 Anyone who has to receive from the State compensation vouchers, and has to pay to the State a sum of money as a tax on wealth or enrichment of rasboi, will be able to ask for the compensation of his credit and debit respectively within the limit of compensation to receive. The compensation will be operated immediately and in full, regardless of whether the tax on wealth and enrichment of rasboi could be paid by taxpayers in some years. In case of dispute over the property of the damaged property, the relief is indivisible as far as the ministry of finance is concerned, and the compensation vouchers will be sent to the respective court, to decide on the distribution of those in law. + Article 7 Those who in bad faith will not declare the advances that have received, either in money or in the matter, as well as those who have several decisions, will not declare them, will be liable to the penalties provided in the criminal code for deception. + Article 8 The damages suffered by the State, counties and communes, are valid found and evaluated by the acts trained by the authorities who were pregnant with this work; these acts constituting definitive titles in the sense of the provisions of the peace treaties, but the liquidation of these damages does not enter the provisions of this law + Article 9 The Ministry of Finance is obliged to withdraw the treasury bills issued and given as cover to the National Bank for the guarantee of its currency and for this purpose starting from April 1, 1921, the finance ministry will score in its budget an amount of a little 300 million lei annually, exclusively intended to reduce the circulation of a fiduciary. The amounts entered in the budget for this purpose, will be taken mainly from the product of progressive and exceptional tax on wealth and enrichment of rasboi. + Article 10 The Ministry of Finance will task with the special service of liquidating the accounts of rasboi in connection with the public debt and the provisions of the present law, the special house created by art. 22 of the law on wealth tax and enrichment of rasboi. + Article 11 On the basis of the present law, the ministry of finance is authorized to make up instructions that to the extent that it complements the above provisions, have the power of law. This law was voted by the Assembly of Deputies at the meeting of July 19, 1921 and was adopted by a majority of one hundred and fifteen votes, against two. p. President, Dr. A. Imbroane ((L. S. A. D.) Secretary, Dr. Lazar James This law was voted on by the Senate at the meeting of July 20, 1921, and was unanimously adopted by seven votes. President, General C. Coanda ((L. S. S.) Secretary, John Papp We promulgate this law and order that it be invested with the seal of the State and published in the Official Gazette. Given in Bucharest, on July 23, 1921. FERDINAND ((L. S. St.) Finance Minister, N. Titulescu Minister of Justice, M. Antonescu ---------