£200,000,000 BY AIR.

Poverty Bay Herald, Volume XLVI, Issue 14968, 23 July 1919, Page 5

£200,000,000 BY AIR.

■ ■ •♦- — VIENNA. May 25.— Immnse quantities of. Hungarian, and Austrian securities are being smuggled over the frontier into Switzerland m anticipation of £he financial terihs of the peace . treaty. It is feared that the Government may introduce total confiscation of capital, and wealthy Hungarians who have escaped the depredations of Bela Kun are despatching their valuables by aeroplane to Vienna, whence they are smuggled by neutrals into Switzerland. Apparently the officials here are lending support ,to the scheme m order that it might be said that Austria is bankrupt. At arty rate several members of Parliament and minor officials of the State have bought- large estates out of money received from this contraband traffic, as up to 50 percent, of the total value is given to agents. It is estimated that over £200,000,000 worth of securities have mysteriously disappeared. The authorities axe almost powerless to prevent this traffic, part of which is effected by the official courier ' service between ■Vienna and Berne. It is a common occurrence for women tp . give neutrals many thousand pounds' worth of jev&lß to be deposited for safe deposit m. the Swiss Bank. Vast sums are also made by smuggling Austrian banknotes into Prague, where the Prague kroner is worth 50 per cent, more than the Austrian. For superimposing the Prague ■Government stamp r on these kroner onehalf of 1 per, cent, is asked.