AUSTRIA'S FINANCE.
HUGE DEFICIT AHEAD.
FOREIGN LOAN NEEDED.
(By Cable.—Press Association.—Copyright) (Received 10.30 a.m.) LONDON, July 23. The "Daily Chronicle's" Vienna correspondent states that the Austrian Crown is now 165,000 to the pound. The public fear that it is going the way of the Russian rouble. The Government is not likely to avoid a deficit of 900,000,000 crowns at the end of the year, largely because the Peace Treaty deprived Austria of her best food-producing areas. Austria's grain production now only suffices for three or four months out of the year, while she must buy 85 per cent of her coal abroad. When the Government proposed fresh taxation to produce 200,000,000,000 a year, the rise in the cost of living necessitated an increase in salaries of State officials by 328.000,----000,000. It is impossible to wipe out the deficits. What is wanted at the moment is £10.000,000 foreign credits.—(A. and N.Z. Cable.) " \
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Auckland Star, Volume LIII, Issue 173, 24 July 1922, Page 5
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151AUSTRIA'S FINANCE. Auckland Star, Volume LIII, Issue 173, 24 July 1922, Page 5
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