CRISIS IN AUSTRIA.
AN ALARMING STORY
THE FINANCIAL PLIGHT
(Elec. Tel. Copyright—United Press Assn.)
line Times.) (Received July 10, 8.50 a.m.) * LONDON, July 8
An alarming story regarding the state of Austria is contained in a note. Addressed by the Austrian Government to the Reparations Commission, seeking relief from liens on certain revenues possessed by creditor nations. The note states that unless relief is allowed immediately a financial catastrophic will be inevitable. The crisis Mas never so acute. It .is far more menacing than any preceding one. The Austrian crown has shrunk from fifty thousand to the pound to one hundred thousand to the pound, .and soon will be utterly valueless, and 7-efused by every bank in tiro world. This would lead- not only to a financial crisis, but to a social upheaval and political collapse. If neighboring countries send troops to restore order international jealousies and the possibility of conflict will be aroused. PARIS, July 8.
The Austrian note has greatly impressed the French, and lias thrown the Reparations Commission into a, state akin to consternation.
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Bibliographic details
Poverty Bay Herald, Volume XLVIII, Issue 15871, 10 July 1922, Page 3
Word Count
177CRISIS IN AUSTRIA. Poverty Bay Herald, Volume XLVIII, Issue 15871, 10 July 1922, Page 3
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