AUSTRIA’S PLIGHT

Otago Daily Times, Issue 18466, 30 January 1922, Page 5

AUSTRIA’S PLIGHT

RESIGNATION OF MINISTRY. ,'1 ■ | ■■■■■' '■ Freer Association—By Tftlegraph—Copyrigbt. ‘ VIENNA,. January" 27. The Ministry has resigned.—A. and N.Z. Cable. AN ANGLO-FRENCH LOAN. ” 1 i 1 PARIS, January 28. (Received Jan. 29, at 11.15 p.m.) . The Government is preparing a Bill authorising a joint Anglo-French loan' of £5,000,000 to Austria.—A. and N.Z. Cable. ', ' [A message published last week stated; The Austrian kroner'has collapsed and is quoted at 43,800 to the pound sterling. The. collapse means an immense increase' in the prices of foodstuffs'■ in Austria. It is feared that the result will be disorders and riots, There is also a danger of a political collapse. London official financial oriclea regard the situation as exceedingly grave, as the collapse will dislocate trade and the exchanges with neighbouring countries; including Germany, which has large financial interests in' Austria. It will' also retard Gfeat Britain’s industrial recovery, and will increase unemployment. The Austrian Government has urgently appealed to the Allies and also to British financiers for a, loon of £2,500,000. Thh. total value of the paper money now in circulation is 174,000,000,000 kronor.]