WAKE OF THE WAR.

Taranaki Daily News, 6 December 1919, Page 10

WAKE OF THE WAR.

AUSTRIA TO-DAY.. MONEY LOSES VALUE. (Correspondent Melbourne Herald.) Vienna, August 10. "I never had so much money in my life, and yet-1 was never so poor, because I cannot buy anything I want." This was a statement a gentleman in Vienna made to me yesterday. There is abundance of paper money everywhere, but it has lost its value, and people are reverting to the barbaric practices of barter.

Formerly the Austrian krone was worth a trifle more than the franc, or about 10d/ now it is worth less than 2d English money, so that people who have lived and saved money in Austria have lost absolutely four-fifths of their savings, and with the increased cost of everything the one-fifth is insignificant, ft cuts both ways.. My assets happened to be in British money, and I was able to buy Austrian money at the rate ot 138 krones for £1; but the people in Austria have' not British . money,' and consequently they have to think and pay on their money as they have earned and saved it. These are" some of the new prices: The Heller is l-50th of a penny, and costs much more in metal and manufacture than it is worth. The Government keep to the old values for postage and .other, purposes. I posted a lot of books to.-day. at a cost equal to about 2s, but. it. cost me less than 5d English, money. In an attempt to control prices in the interest of the consumer, the autnorttles fixed the schedule'so low as to disc imago- production, and drive trading into illicit channels, making it possible lor those who have money to get advantages over the many. 'There is a grave disinclination in the provinces to°send food to Vienna, and the city has not the power of compulsion. WAGES'NOMINALLY FORCED UP. Wages ■ have been forced up. In prewar times, 30 kronen to 40 kronen a week was an average'workman's wage. Now tram conductors ge£ 1000 kronen a month, tailors 700 kronen a month. Waiters reeejved 30 dronen and tips a month; now they receive 100 kronen to 150 kronen and tips a week. There are DOOO of the latter class of labor out of work in Vienna. • The list might be extended indefinitely, but it is not necessary. The unwholesome condition cannot last. What the solution will be none can say.

The Supreme Economic Council lias appointed a number of commissions, and is supplying the means for dealing with temporary measures. The inter-Allied Food_ Mission is financed by Great Britain, and is supporting quarititeis fo food on extended credit and passing it over to the Austrian Ministry for distribution. ' The Americans are cooperating as go-between in arranging what are. called compensation contracts —or barter of goods, for goods with adjacent countries. Poland has exchanged a lot of petrol for Austria for manufactured' leather goods. . Another compensation contract 'elsewhere supplies gasoline in exchange' for poultrv, cattle, pork, vegetables, eggs, horseflesh, or maize. Still another calls for sugar and coal in exchange for bark, milk cows, bones, anti-toxins, copper, aluminium, tin, resin, or turpentine, For this purpose warehouse blocks have been pooled, and the expedient helps over temporarily, but it. cannot last. The Austrians arc giving away their stock-in-trade! which Is nearly exhausted, ior goods which go into consumption and no longer exist... AMERICANS WORK HARD. Still the effort is being made to restore economic life, and to open eomimunications between people who have more common interests than reason for antagonism,' and the Americans are very good negotiators in such conditions. To facilitate these transactions direct telephone communications have been opened up with Paris, Warsaw, Prague, Trieste, and Berlin/ There is also a railway mission working, and British soldiers convoy the trains'. It is gratilying to hear that the prestige of the British was never, so hisrli. '' The Tommy's uniform carries him nnywhere. Two soldiers in charge of a train are enough to go through any country. There is certainly no ill-feeling or hatred on the part of the Austrians, and they feel very much hurt to think that there is nny hatred felt towards them, "Tell me.", said a lady, "do the Australians, hate us?" When I assured her that the Australians were incapable of hate, she grasped my hand with* fervour, and I thougjit she was going to kiss me. _X}u» .aattf.ian j» most ftatbAtia. with, their

Government broken up, terms not actually determined or signed and officialdom not capable of Bhaujng itself loose or establishing new codes and short-cut methods. The Austrians.are not able to act strongly or'wifh forceful initiative, and they may not be strong enough to resist the insidious pressure of intriguers, notwithstanding their good Intentions and desires.