The Sun.
London, England, 1849-05-30 00:00:00

THE NORTHERN STATES

AUSTRIA.
The financial state of this empire is most deplor-
able. The Frankfort papers declare that a national
bankruptcy is inevitable. This assertion has excited
the wrath of the court party at Vienna ; and the
vituperations of their organs in the press of the capital
have elicited a justification in reply, to which we are
indebted for the following particulars:—
The present uncovered advance of the (miscalled)
national bank at Vienna amounts to 21,000,0001.
sterling, or two hundred and ten millions of florins.
This advance has been made in the shape of bank
notes, issued on the demand and sole responsibility of
the Councillor KaAUS, Minister of the Finances. It
must not be forgotten that KRArS took office during
the sittings of the recognised diet of Vienna, and was
sworn as constitutional and responsible Minister
under the new state of things. As KaAus
continued as responsible Minister under the Diet
of Kremsier, his irresponsible position dates only
from Prince SCRWARZENBURG'S CON]) critat, by which
that assembly was forcibly dispersed, and the young
aspirant to the imperial crown commenced a despotic
reign. But the advances to the Government have
been made by the Minister in three capacities, which
he represented at the three epochs of Vienna, Krem-
sier, and Olmuts. The question whether all are
equally valid will naturally be raised when a settle-
ment takes place, and may be decided differently,
according as success is on the side of the absolutists
or of the constitutionalists. If the EurEitoß :suc-
ceed in putting down all liberty, will he recognise
debts incurred on account of those who sought to
force a constitution on the Court? If the Con-
stitutionalists vanquish their opponents, will
they pay debts incurred to effect their de-
struction.? There is, however, a previous ques-
tion to the payment of this sum, which has been su-
peradded to the enormous debt of the empire, and
this is, can the notes be kept in credit and in circu-
t lingtifi Ortlieir crecit2eiams".i.olinay cosme round?
-
presented by the exchange on London, which- is
quoted now at 11 50 6,) florins. The value of the
pound sterling at par being 10 florins. Hear we have
a depreciation of nearly twenty per Cent. Silver coin
is, however, only quoted at seventeen per cent. de-
preciation. Here the Frankfort papers let us into a
secret of the Mint, roundly asserting that the latter
issues of that establishment have been at a standard
of 24 florins to the mark of fine silver
instead of 20 florins, the national standard.
Hence, of course, the smaller agio, gold, which
suits better for hoarding and running away than
silver, is quoted at 27 per cent. against notes. In
Viennapanic , mistrust,caabe prettya n demoralisa-
tion times, as there is little use for so large a
coin, gold can scarcely be sold even for its value as
metal.ti
now The
existingstateat
tf
estimated from these figures.

Of the various shifts resorted to by the Government
to keep its notes in circulation, the following are re-
lated. Taxes are required to be paid half in silver
and half in notes. Loans have been extorted by com-
pelling people to give silver and take notes in exchange.
All salaries are of course paid in notes, which amounts
to the recipients to a reduction of one-fifth of their
pay. But if these advances are continued ad libitum,
or, rather, at the command of the Minister, to what
discount must they not fall ? Yet will no Governor
of the Bank refuse to give them as long as Generals
Boum and WELDEN form a court of appeal (assisted
by drum-head courts martial) on all accusations of
treason. In like manner, what is an unfortunate
creditor to do whose debtors insist upon his taking
these depreciated notes in payment of claims, on pain
of being denounced as refusing to support the Impe-
rial Government at a sacrifice As a matter of course,
ell trade is at an end. It is said that the great
banking-houses which the revolution did not destroy
brought to a stand still by the financial
t, friends of order."
borfotuhe
oapreerantoiowns

FRANKFORT.
The German Parliament in its sitting of the 25th
adopted the following resolution :
" The Government
.of the 29 states, faithful to the
constitution of the empire, aro invited to take measures
in common to put into effect the constitution, and to re-
organise the necessary means of defence."
The Grand Duke of BADEN is at Frankfort. Count
PAULEN, a Russian agent, has also arrived in that
city.