CALM IN AUSTRIA.
GOVERNMENT PACIFY PEOPLE. LOWER PRICES PROMISED. By Telegraph.—Press Assn. —Copyright. Received July 21, 8.15 p.m. London, July 20. The Daily Express’ Vienna correspondent reports that Austria is calmer. The threatened strike did not materialise after an assurance was given by the Chancellor (Professor Seipel) that immediate steps would be taken to reduce the cost of living. The city is quiet, shops have reopened, aud the workmen have returned to the factories. Professor Seipel stated that owing to the enormous contracts for flour and other commodities placed in foreign countries it was impossible to force down the price of bread, and if the contracts were broken Austria would be famine-stricken. The cause of the trouble was that imports must be paid for in the currency of the exporting country, thus creating a demand for foreign currency, which depreciated the purchasing power of the crown and automatically increased the cost of living.—Aus.-N 7 j. Cable Assn.
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Taranaki Daily News, 22 July 1922, Page 5
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157CALM IN AUSTRIA. Taranaki Daily News, 22 July 1922, Page 5
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