AUSTRIA WANTS HELP.
APPEAL TO ALLIES. EXCHANGE TUMBLES DOWN. LONDON, January 20. The Austrian krone, which before the war was worth lOd, has collapsed. It is now quoted at 43,800 to the pound sterling. Yesterday it was 14,000 to the pound sterling. The collapse means an immense increase of prices of foodstuffs in Austria, and it Is feaxed that this will result in riots and disorders. There \ is also a danger of political collapse. Official fiuancial circles in lxmdon regard the situation as esccoedinprlv £rave, as the collapse will dislocate the trade and exchanges of neighbouring countries, including ftennany, who has large financial interests in Austria. It will also retard Britain's industrial recovery, and will increase unemployment. The Austrian Government has urgently appealed to the Allies, also Rritish financiers, for a loan of £2,300,000. Her total paper money in circulation amounts to 174,000,000,000 kronen.—(A. and N.Z.)
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Auckland Star, Volume LIII, Issue 22, 27 January 1922, Page 5
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146AUSTRIA WANTS HELP. Auckland Star, Volume LIII, Issue 22, 27 January 1922, Page 5
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