The Guardian AND EVENING STAR, With which is incorporated “The West Coast Times.” TUESDAY, AUGUST 9th, 1921. FINANCING HUNGARY.

Hokitika Guardian, 9 August 1921, Page 2

The Guardian AND EVENING STAR, With which is incorporated “The West Coast Times.” TUESDAY, AUGUST 9th, 1921. FINANCING HUNGARY.

ISitrnsii enterprise naturally finds an outlet in many avenues. The commercial side of the nation is always displaying/its bent, and there is as much need now as ever to open up fresh markets and establish trade wherever possible. What may prove a most useful means towards the re-establishment of British trade in the markets of Central and Southern Europe is being accomplished as a result ol the more than ordinary interest taken in the economic conditions of Hungary by a number of English financiers. According to a recent issue of “ The Hungarian Nation ” (Budapest), an agreement has' been made between a prominent Hungarian navigation company and a group of financiers in Great Britain, whereby the latter are to furnish funds for the. purchase of substitutes for lost ships and to improve the general status of the company, that has suffered rather severely as a, result of the war. I 1 urther information is to the effect that the Hungarian Bank and Trading Co., Ltd., is concluding a transaction with interested Englishmen,‘who by the purchase of, ‘25,000 new shares have raised the original stock from 120 to 2“20 million crowns and total funds to 300 million crowns, aiul thi H in turn will lead to the concern being renamed the British and Hungarian Bank Co., Ltd. In pointing out that this new hank is by no means the result of isolated British enterprise, “The Hungarian Nation endorses the impression that the fusion of interests means the inaugum tion of more extensive business rela- , tioiis. To use its own words, “ Tt is the true representation of the great • economic interests of the British Empire, extending all over the world, and ' considering the Hungarian nation as worthy of being included in their sphere,” and the result is that business has been planned of such a scope as will soon exceed €Tio limits to which capital has confined it at present. The fusion i s further regarded as tantamount to an underwriting of the Peace Treaty, and appreciation is expressed of the “ English spirit of enterprise and width of conceptions.” Tt is apparently of primary interest to Hungnrv to convince English capital of its supreme efforts in bringing about productivity of work and efficiency of political institutions; consequently all the resources of the country must he laid open to this end. Th<» productivity of the Hungarian soil in the valleys of the Tisza and Danube supplies the nation with an infinite source of strength, and various minerals are awaiting exploitation ; while in years past the Danube, as a main artery of traffic, has enabled the country to carry on a flourishing trade. These are facts of which English capital has for some time been aware, and it is now Imped that with a revival

of the economic life of the Hungarian nation there may be not only a flourishiu. Ira do with Hungary but a control of South European markets.