The Sun.
London, England, 1854-03-30 00:00:00

THE FINANCES OP AUSTRIA.

(PROM A CORRESPONDENT.)
On the eve of a war with a powerful enemy, our
attention is naturally turned to his naval and mili-
tary resources. The maritime strength of Russia is
known accurately enough, though the same cannot be
said of the fortifications of her different harbours. Her
military power is admitted to be vast ; but beyond this
its actual extent is purely conjectural. On the other
hand, the fleets of England and France, ready for action,
can be measured with nicety, even to a man and a
gun ; and the armies of both nations, already ea route,
together with the further contingents that may be mo-
bilised for conflict with the wanton disturber of Europe,
could be precisely calculated. The complicity,' how-
ever, that is attached to the Eastern Question
compels us to carry our views beyond the clata
we have referred to. We have not merely to
estimate as closely as we can the materiel which
France and England, united with Turkey, can readily
command for the impending conflict with Russia on
either element, but likewise to bring under consideration
the military resources of Austria and Prussia, who have
declined becoming active belligerents in unison with the
Western Powers. It is deeply to be regretted, for the
sake of Germany, as well as on account of the proba-
bility of bringing the war (should it be once entered
upon) to a speedy termination, that the Courts of Berlin
and Vienna have pursued so hesitating a policy. In
a military point of view, we know the numbers and effi-
ciency of these states to be such, that if either of them
take an active part in the struggle at hand, it will, ac-
cording to the ulterior decision against or in favour
of Russia, be sharply closed, or severely protracted.
It is futile to imagine that a war of the nature in
which we are about to engage, unless summarily termi-
nated, can admit of Austria and Prussia long remaining
neutral. The idea is quite chimerical. The political
state of the continent is too explosive to justify the sup-
position. Prussia seems to be inclined upon sacrificing
a noble opportunity for upholding the independence of
Germany and the welfare of Europe to her craven affec-
tion for the dynastic connection between her own Court
and that of St. Petersburg. The nationality of Prussia
is to be yielded to a personal regard for familyalliances ;
and her Sovereign wills that, because the Czar hap-
pened to marry his sister, Prussia shall appear
as a cypher in the political regime of Europe.
For the indecision exhibited by Austria throughout
the long series of diplomatic negotiations much of pal-
liation might be urged. Austria is delicately situated,
and is certainly not free from being under strong obliga-
tions to Russia, though it would be easy to show that a
due and enlarged regard for her own interests should
dictate a vigorous resistance to the aggressive policy of
the Czar towards the Sultan.

Recent intelligence persuades us that our Ministers
were premature in announcing that we could rely upon
Austria and Prussia standing aloof from the Emperor
Nicholas in case he should continue to disregard our views
for maintaining the independence of the Ottoman Empire.
Hence we are necessitated to take a wide view of the
political horizon, to look beyond the first shock of arms,
to regard the possibility of a general European war, and
uncertain of the actual position that may be assumed by
every leading Power on the Continent, to consider not
only what are the forces which they can each command
at the outset of hostilities, but also the resources on
which each could severally rely for prosecuting a pro-
tracted state of warfare of the present magnitude.
This brings us at once to a review of the financial
position of the different Powers. " The revenue is
the State." England is already doing what she con-
siders needful in this respect. Russia is said to be
making great monetary efforts—France is alive to the
same necessity—and Austria has announced her pro-
posal for raising a considerable sum within her dominions.
Austria, from her past history, and by her geographical
position, engages our sympathy and excites the liveliest
interest. There has been, and can be, no general com-
motion without her being compelled to play a prominent
part. The Northern Despot cannot accomplish his long-
cherished design of dissolving the Turkish empire with-
out deeply affecting the stability of that of Austria, and
the greater the perseverance of Russia towards her co-
veted object, the greater is the distress inflicted upon
Austria. With her heterogeneous population, and the
heavy taxation she has had to submit to, consequent
upon the great wars in which the has been engaged, no
country more than Austria requires the blessings of a
long peace to redress her finances and to liberalise her
institutions. Russia, however, desires that she should
effect neither the one nor the other, inasmuch as were
her finances to be in a sound condition, and her varied
population to beoome well affected to the House of Haps-
burgh, Austria would then be too independent for the
ulterior designs of the House of Romanoff.
During the long period that Metternich held the
power of Austria in his own hands, and chose a repressive
policy, by accommodating itself to that of Russia, tended
year by year to diminish and dry up all the healthy
springs of national influence, and no publication was ever
permitted by which Europe could obtain a fair view of
the financial position and resources of Austria. Consi-
derable light has, however, been thrown upon this im-
portant subject. A pamphlet on the Finances and Cur-
rency in Austria, which has created the liveliest interest
abroad, has been recently translated and published in
this country. The author appears to be thoroughly
acquainted with his theme. He traces with accuracy
all the prominent causes that have operated from the
outbreak of the French revolution to the present time, to
thwart the continual efforts that have been made
to restore and to maintain the finances of Austria
upon a solid footing. In a spirit of candour he exposes
the errors that were occasionally committed, as well as
the means adopted to repair them. These measures,
with the increase in her national wealth, produced in
1845 a handsome surplus of receipts over expenses.
The undertaking in Cracow in the following year, and
the disturbances in Galicia—the bad harvest of 1847
the Revolution and the war in 1848, and 1349, when
Austria's throne trembled in the struggle—naturally
contributed to bring her finances again into disorder.
Notwithstanding the extraordinary exertions which
Austria was compelled to make owing to these grave
events, it is surprising that the deficits of the last few
years have net been greater than what they appear,
showing the elasticity as well as the extent of her
resources. Could the peace of Europe be pre-
served, it is fairly shown that by considerable
savings in the war and other departments, and the an-
ticipated increase of the State receipts, and when " the
armed peace in Europe gives way to an unarmed peace,"
the deficit in the Austrian finances would vanish. Un-
til the Emperor of Austria shall be allowed by the state
of Europe to reduce the budget of the Ministry of War
the deficit must continue. After pursuing his impar-
tial examination to demonstrate that, peace being main-
tained, the future finances of Austria would be found
to rest upon a sure basis, it is admitted by the writer of
the pamphlet that if an European war should break
out, the attainment of an equality between revenue and
expenditure must be deferred ; though in such an event
"not only the Austrian finances, which are now on a
better footing to meet extraordinary events than before,
but likewise the finances of all other States, would pain-
fully feel the consequences."

NVith this complete declaration, that Austria cannot
hope to be in a position to do justice to herself until
freed from the necessity of keeping up an enormous
standing army, it is much to be desired that she should
forthwith throw off the incubus of the domineering influ-
ence of Russia. Unless iu the coming struggle the
Western Powers shall contrive, at its close, and under
the strongest guarantees, to confine Russia within proper
limits, and prevent her from continually molesting neigh-
bouring States, Austria will look in vain for "an tin,
armed peace." It is to Austria, and the part she will
act in the approaching drama, that the eyes of Europe
are chiefly turned. By a junction with England and
France, who have publicly disclaimed every notion
of territorial aggrandisement, Austria might rapidly
reach the coveted goal of a protracted peace,
with the surest means of consolidating her Em-
pire. But if she side with the Autocrat, whose only
aim is to encroach upon and shatter every Power that
can oppose his insatiable lust of ambition, and so prove
that the Czar was right when be told Sir Hamilton
Seymour that what suited Russia suited Austria, then,
indeed, the time may not be far distant when Austria
will bitterly lament having listened to the perfidious
councils of the North in preference to the honourable
advice of the West.