FUTURE OF AUSTRIA.

Taranaki Daily News, 5 September 1922, Page 5

FUTURE OF AUSTRIA.

QUESTION OF RELIEF. PROBLEMS FOR LEAGUE. FINANCIAL PROPOSALS. By Telegraph.—Press Assn.—Copyright. Received September 4, 5.5 p.m. London, September 4. The Daily Telegraph’s Geneva correspondent states that the Austrian Premier lias been invited to discuss with the Council of the League of Nations the question of the remedies necessary to relieve Austria. It is said the entire Austrian currency is purchasable for £3,500,000, and the question is whether the League should advance that sum on the security of the railways in order to re-establish fiduciary circulation. It i* also stated that certain banks are prepared to lend Austria £15,000,000 if the League guarantees it.—Aus.-N.Z. Cable Assn.

AUSTRIAN FINANCE. CUSTOMS UNION SUGGESTED. By Telegraph.—Press Assn.—Copyright. Rome, Sept. 3. Signor Nitti considers an AustroItalian monetary union absurd. He believes the most efficient remedy for the existing situation to be a Customs union between Italy, Austria, Hungary and the Little Entente. Vienna, Sept. 2. As the result of the extraordinary currency situation, cab*, vans and handcarts were pressed into service to-day to carry the immense packages of notes from the bank to pay August wages, employees frequently receiving bundles weighing three or four pounds. Some were only able to get part of their wage* owing to the shortage of big notes. There was an increase in the note circulation during the past week of 234 milliards (234,000,000,000 kronen, equal to 10.000 million sterling in ordinary times).