▁The ▁use ▁of ▁the ▁title ▁" Reg ent " ▁would ▁have ▁reflected ▁the ▁exception al ▁circumstances ▁of ▁M anner heim ' s ▁election . ▁M anner heim ▁and ▁Ry ti ▁both ▁agreed , ▁and ▁Ry ti ▁submitted ▁a ▁notice ▁of ▁res ignation ▁on ▁ 1 ▁August . ▁The ▁Parliament ▁of ▁Finland ▁passed ▁a ▁special ▁act ▁confer ring ▁the ▁presiden cy ▁on ▁M anner heim ▁on ▁ 4 ▁August ▁ 1 9 4 4 . ▁He ▁took ▁the ▁o ath ▁of ▁office ▁the ▁same ▁day . ▁ ▁A ▁month ▁after ▁M anner heim ▁took ▁office , ▁the ▁Cont inu ation ▁War ▁was ▁concluded ▁on ▁har sh ▁terms , ▁but ▁ultimately ▁far ▁less ▁har sh ▁than ▁those ▁im posed ▁on ▁the ▁other ▁states ▁border ing ▁the ▁Soviet ▁Union . ▁Finland ▁retained ▁its ▁so vere ig nt y , ▁its ▁parliament ary ▁dem ocracy , ▁and ▁its ▁market ▁economy . ▁Territ orial ▁losses ▁were ▁considerable ; ▁all ▁K are lia ▁and ▁P ets amo ▁were ▁lost . ▁N umer ous ▁K are li an ▁refuge es ▁needed ▁to ▁be ▁re located . ▁The ▁war ▁re par ations ▁were ▁very ▁heavy . ▁Finland ▁also ▁had ▁to ▁fight ▁the ▁Lap land ▁War ▁against ▁withdraw ing ▁German ▁troops ▁in ▁the ▁north , ▁and ▁at ▁the ▁same ▁time ▁dem obil ize ▁its ▁own ▁army , ▁making ▁it ▁harder ▁to ▁exp el ▁the ▁Germ ans . ▁It ▁is ▁widely ▁agreed ▁that ▁only ▁M anner heim ▁could ▁have ▁gu ided ▁Finland ▁through ▁these ▁difficult ▁times , ▁when ▁the ▁Finn ish ▁people ▁had