GETTING WORSE

Evening Post, Volume CIV, Issue 20, 24 July 1922, Page 7

GETTING WORSE

THE FALLING KRONE

AUSTRIA'S FORCED IMPORTS

GREAT-DEFICIT INEVITABLE,

(AU3H-.IUN—HKW ElAii-D CAB.B ASSOCIAIHW.)

aUSTRALIM-V-tr ZEALAND C-ILE ASSOCTATIOS.)

(Received July 24, 11.30 a.m.)

LONDON, 23rd July.

Th.-Vienna correspondent of the Daily Chronicle states that the Austrian krone (par value lOd) is now'quoted) at 165,000 to £1, and the publio fear that it is going the way of th* Russian rouble. The Government is unlikely to avoid a deficit of 900 million kronen at the end of Hie year, largely because the Beaoe Treaty has deprived Austria of'lier best food-producing areas. Austria's grain production now only suffices for three or four months out of the year, and abe must buy 85 per cent, of hor coal abroad. When the Government proposed fresh taxation to produce 200,000 million kronen a year, the rise in the coet of living necessitated an increase in the salaries of the State officials by 328,000 millions. It is impossible to wipe put the deficits. What is wanted at tho moment is ten milHons sterling in foreign credits. \ /