AMAZING PANIC.

Auckland Star, Volume LIII, Issue 171, 21 July 1922, Page 5

AMAZING PANIC.

SWEEPS OVER VIENNA. '• RED " RISING FEARED. CITY IN STATE OF SIEGE. 164,000 CROWNS TO THE £. (By Cable. —Press Association.—Copyright.) VIENNA. July 20. An amazing panic swept over the city to-day bringing -all business to a standstill. Workers on reading in the newspapers an announcement that the price of the loaf had increased within a week to 2700 crowns, which is an advance of 60 per cent, marched in procession, with red flags, to Parliament Buildings. Stocks ,at the meat markets wore immediately rushed to the cold stores, and the doors closed. Panic spread like lightning, and every shop lowered its iron shutters, and hotels and cafes were closed and barricaded. Within half an hour Vienna was like a besieged city. Mounted forces paraded the streets, and the military prevented the demonstrators from entering the Parliament Buildings and dispersed the mob. The Government, in the hope of stemming the slump of the crown, has prohibited all free trade in foreign currencies, even by banks, and is confining dealings to a Government bureau at fixed prices. The new plan is not expected to help. An official declared that Austria was hurrying toward n Soviet regime. The pound sterling is now quoted at 104.000 crowns, -as against 25 before the war.—(A. and X.Z. Cable.)