STRUGGLES OF POLAND.

Otago Daily Times, Issue 19218, 8 July 1924, Page 8

STRUGGLES OF POLAND.

ATTEMPT TO bE SOLVENT. On November 11, 191 S, power and lesponoibilitv were thrust upon 2o millions o£ Penes, and their land was restored to them—rich m possibilities, but poor in realities. It had been stripped of ail that the invaders could take with them, even to the church, bolls from itbe steeples. The land was financial resources (says Professor M. B. Uziewicki in the Quarterly), and it was lianded over to men who were without exncrierice of government. Poland, coming to life again, is entangled in all but inextricable difficulties Bor five years she has been struggling to release herself from these, with not enough, of bucce-as to confound her enemics, though she has done better than her friends could have dared to hope, 1 rentiers have been settled, a form of government has been adopted, a constitution has bjen Lamed and an army has been fashioned out of a nalriotic multitude ruto a force that has earned the ■ well-weighed praise of Marshal Boch The principles of agrarian reform have been agreed to by a party strong enough to carry them out as soon as tho finances permit; and a great attempt stabilise the Polish currency has been begun with no small chances of success. . M Ladislaus Grabskx, who is in Ministerial control of finance, aims in the first place “ found a Bank of Issue, in private hands, but with special privileges, something _ like those possessed by the Bank of England A maximum of 40 per cent, of the shaies will 1- held by the Government. This bank, be sides its Other functions, will bo authorised to issue notes or gold coins called Zloty Polskic” (Polish florins, each haying exact value of the so-called "gold rranc in the Latin Union), and such other coins and notes greater or- smaller, as may bo retired. In the next place, it wall have power to raise loans on the security of certain snecified Government estates. Thirdly, u w-i'd endeavour to have the taxes punctually paid. For 10 years next to no taxes have been levied on property, and the tew levied have been paid in murks of little rt >„l v a)ue. Taxation is now rated accordin D } 0 “ a fixed number of "valuation” marks The valuation murk is quoted every day, and is sun posed to be equal to the gold franc For mote than a month, when Professor Dziewicki wrote, it had been standing at 1 810 000 Polish marks. The intention is to substitute the Polish florin in all ealeu ations and gradually to withdraw the depreciated ' Polish mark from circulation. A. fourth attempted reform will be to deal with the postage, telegraph, and telephone rates, and the railway fares, bo as to make the services pay their way. All these rates and fares have been very low. The yearly deficit has been paid by the nation (wruch still owns the railways), and this has brought tho mark still further down. M Grab-ski is stated to bo an indefatigable worker: a man ot unimpeachable honesty, iron will, and great ability. He is trusted by all parties, and has been given poweis such as have been granted to no Minister before.