AUSTRIA’S PLIGHT.
CATASTROPHE INEVITABLE. UNLESS RELIEF GIVEN, By Telegraph.—Press Aasn.—Copyright. 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 1# allowed immediately a financial cabas* trophe will be inevitable. The crisis was never so acute; it is far more menacing than any preceding one. The Austrian crown has shrunk from 50,000 to £-1 to 100,000 to £l, and soon will be utterly valueless and refused by every bank in the 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. A Paris message says that the Note has greatly impressed the French and thrown the Reparations Commission into a state akin to consternation.
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Taranaki Daily News, 11 July 1922, Page 5
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162AUSTRIA’S PLIGHT. Taranaki Daily News, 11 July 1922, Page 5
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