WORLD MOTOR RECORD

Evening Post, Volume CXVI, Issue 60, 12 March 1934, Page 7

WORLD MOTOR RECORD

PARIS, March 10. Eyston and Bert Denly, driving a Hotchkiss car, made a world's record of 4578 miles in 4B hours at Montlhery, and 5000 miles in 52. hours 46 minutes. era of milk and honey, the Hungarian Third Reich, has failed to materialise. The Hungarian super-nationalist regime was signally unsuccessful in its efforts to improve the condition of tho peasant. The country is potentially rich, but land is unequally distributed, more than one-half of all rural estates being concentrated in the hands of less than a thousand landowners, and the rest scattered among millions o£ peasants. At the end of the World War about 1,500,000 farmers had either no land or'too small parcels to make a living on them. The Government's intention was to execute an agrarian reform by turning over a part of the large estates to the country proletariat. The reform, however, was wholly inadequate, as it failed to correct the results of unequal distribution. Only about a million acres were parcelled out among the landless, and much of that land was too poor for profitable cultivation. Moreover, the authorities failed to provide the new owners with agricultural implements, so that most of them are today as badly off as they were at the start. TAX PAID IN GRAIN. So desperate has the peasants' plight become recently that the Government had to permit them to pay their tax arrears in wheat and rye, and it also decreed a farmers' moratorium. In order to enable the population of tho "Alfold," the great Hungarian plainland, to tide over the worst times, the Cabinet devised a system of debentures, which was.an anticipation of a similar plan later suggested in the United States. According to this plan, the peasants have.for years received an export grain premium, the so-called "boletta," which amounts now to about seventy-five cents per quintal. The boletta is paid out of a special tax on the flour consumption of the cities, to which is added a Government contribution. For the payment of this premium in the current year the Cabinet appropriated nearly twenty million dollars. It is only fair to add that the system is so unpopular all over Hungary that the Government will probably discontinue it next year. The unfavourable monetary situation has made it incumbent on the Government to decree a transfer moratorium on all foreign debts. It is obvious, then, that the economic results of the Hungarian Third Eeich. are unsatisfactory.