Abstract
The paper deals with the conflicts between Serbs and Bulgarians in the area of the Vardar Valley in the period from 1885 to 1903. By solving the issue of the Vardar Valley, in favor of Serbia or Bulgaria, one of these countries would get the "key to the Balkans" in their hands. Both Serbia and Bulgaria emphasized in their favor reasons that were based on historical, ethnic and political strongholds. Bulgaria based its claims on the consequences of the exarchate and the territories from the Peace of San Stefano, and Serbia on the lively medieval activity evidenced by Serbian endowments, linguistic kinship and the spread of glory - a typical Serbian feature. Therefore, Bulgaria joined armed terror by establishing the illegal organizations VMRO and VMOK. A great danger threatened from the Bulgarian nationalists, who in 1897 founded the "Society for the Killing of Serbs" in Thessaloniki. Serbia failed to ensure the protection of the lives and property of Serbs in the Vardar valley by diplomatic means. In addition to official refusals for Serbia to create its own revolutionary organization and retaliate against the Bulgarians in the same way, Serbian companies were still active in the Vardar Valley from 1897 to 1901. In Belgrade, the engagement of Dr. Milorad Gođevac, the chief physician of the Belgrade municipality, led to the creation of the Serbian Chetnik organization. The frequent murders and massacres of Serbs seen in the Vardar Valley accelerated his work to realize this idea.

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