THE INDEMNITY.

Grey River Argus, 11 July 1922, Page 5

THE INDEMNITY.

EUROPE’S PARLOUS CONDITION. AUSTRIA NEARING THE BRINK. LONDON, July 8. An alarming story regarding the state of Austria is contained in a note addressed by Austria’s Government to the Reparations Commission, seeking relief from the liens on certain revenues possessed by the creditor nations. The note states that unless relief is allowed immediately a financial catastrophe will be inevitable. The crisis was never so acute, and it is far more menacing then any preceding on-e. The Austrian crown lias shrunk from fifty thousand to the pound to a hundred thousand to the pound, and soon will be utterly valueless and refused by every bank in the world. This would lead not only to a financial crisis but social upheaval and political collapse. If neighbouring countries send troops to restore order, international jealousies and the possibility of conflict will be aroused. CHICKENS COME HOME TO ROOST PARIS, July 8. I The Austrian note has greatly impressed the French and thrown the Reparations Commission into a state akin to consternation.