PANIC IN AUSTRIA.

Taranaki Daily News, 21 July 1922, Page 5

PANIC IN AUSTRIA.

BIG RISE IN PRICES. SHOPS FEAR RAIDS. MENACE OF SOVIETISM. By Telegraph.—Press Assn.—Copyright. Received July 20, 8.30 pan. London, July 19. Vienna messages report that an amazing panic swept over the city today, bringing all business to a standstill. The workers, on reading in the papers an announcement that the price of a loaf had been increased to 2700 krowns, which is equal to an advance of 60 per cent, within a week, formed a procession, and carrying red flags, marched to Parliament. The meat market immediately rushed its stocks to the cold stores and closed its doors. The panic spread with lightning speed. Every shop lowered its iron shutters and hotels and cafes were bar- | rieaded. and within half an hour Vienna was like a besieged city. Mounted forces paraded the streets, and the military prevented the demonstrators entering Parliament and dispersed the mob. The Government, in the hope of stemming the slump in the crown, has prohibited all free trade in foreign currencies, even by banks, confining dealings to the Government bureau at fixed prices. The new plan is not expected to help. An official declared that Austria is hurrying to Sovietism. The exchange quotation is now 180.000 crowns to £l. —Aus.-N.Z. Cable Assn.