FINANCIAL CHAOS.
POSITION FT AUSTRIA. By Telegraph.—Press Assn. —Copyright. London, July 23. The Vienna correspondent of the Daily Chronicle states that the kronen -is now 165,000 to the £l. The public fear it ’s going the way of the Rusisan rouble. The Government is unlikely to avoid a deficit of 900 million kronen at the end of the year, largely because the peace treaty deprived Austria of her best food-producing areas. Austria’s grain production is now only sufficient for three or four montihs of the year, and she must buy 85 per cent, of her coal abroad. When the Government proposed fresh taxation to produce 200 milliard kronen yearly, the rise in the cost of living necessitated an increase in the salaries of State officials by 328 milliards. It is impossible to wipe out the deficits. What is wanted at the moment is ten million sterling fore’gn credits.
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Taranaki Daily News, 26 July 1922, Page 7
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148FINANCIAL CHAOS. Taranaki Daily News, 26 July 1922, Page 7
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