The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1858-01-07

PRESSURE IN AUSTRIA
Vienna dec 1917 Correspondence Of London Times.l
The monetary and financial crisis far from being at
end in Austria and during the last day or two very
many applications assistance have been made TO the
Credit Bank Among other persons who asked for help
were respectable Trieste merchant and great manu-
acurer in the Southern Tyre and there is TO be-
eye that both of them received the required accommoda
ton Some Berlin correspondents have stated that
Vienna Credit Bank has Hamburg bills in its possession Of
The nominal value of 40 600 marks banco but they
in That the institution in question was in con-
nection with several Hamburg firms fact, but Is not
likely 10 suffer serious loss by any OF them'
AFFAIRS IN BERLIN.
letter from Berlin, of the 10th uit., says
Calm and frmness begin TO return to the commercial
community Of this capital II is thought that the worst
been very severe sufferer. The bankruptcies which
have taken place have only been second and third rate
houses As 10 the usual business at the approach OF
Christmas goes though no crisis had existed
AFFAIRS IN ITALY.
Turin dec 1917 Correspondence Of the London Times
The following letter. dated Milan, Dec 10, which ap-
pears in today's Onione is not Of less gloomy tenor
than the private one above noticed
The difficulties of the present time are very very great
Paear of Baabo & Co., of Cgheera, Of Redaelli, of
Wecher and Mazzoa, after the coecoup OF foreign Cites
after the suspension of payments by the best houses OF
Verona, Venice, Udno and Bergamo our strongest hrs
also begin to and to make up their accounts And
the accounts very sad. Let suffice to remark that
among great silk houses there is not one that has in
warehouse less quantity than $4,000 pounds of silk,
whence it Is TO calculate that at present prices every
enc of them must from half million to two millions
of francs-the Of of them exceeding 900
pounds. The firm OF Bramoila Brothers was supported
by loan Of million and half Of francs; Battista
Gavazzi is qudating and others are doing the same
Every asks himself what have to look forward to-
many fortunes vanished, many reduced by one half
so many families, lately in easy circumstances now at
their last shift many workmen without work or Bread
| means of subsistence OF any kind
The letter concludes with complaints OF the heavy taxa
| ton and high rate Of interest.
| THE CRISIS IN HAMBURG.
[HambWg Dec. l9) Correspondence of London Post
We appear now 10 be in state OF transition here from
nvrh lpnc
where at least there may be some glmmerngs of hope
There still occasional failures, but that may
ably be expected TO be the until all the bills are run
off which had been pied beote the commencement
OF the crisis and tota return of confidence canuot there
fore be reckoned upon until the first half of January has
been well got over In the meantime the proceedings
referred in my last letters have already produced
wonderful effect Previous arrange ments in antic-
patton of the ratification Of the loan from Austria
had evidently been made; for as was late on
| Saturday afternoon before the concurrence of the
burgesses obtained, there WAS little time lost on
| the part Il Austria in fulfilling her share in the
agreement the silver she had engaged TO forward
| despatched from Vienna by special train Sunday
afternoon passed through Breslau on Monday reached
Berlin early on Tuesday morning and was delivered here
abon, noon on the same Gay. The display made on its
arrival and it, convey 10 the bank 10 be deposited
IN its vaults doubtless not without its object and that
object clear successfully attained There is
something papabe and tangible in remittance OF silver
which those who the reception Of the Sycee silver
from China at the close of the late war with the Celestial
| Empire will have an accurate idea; aud although
the amount in the present instance was far short
| OF that on the occasion referred to, nothing was
left undone that could serve to raise the idea of its
| magnitude. Fourteen large goods wagons, with
two engines. brought the valuable treasure into the
railway station and sixteen double horse wagons were
qured to convey from thence to the bank, to the no
| small astonishment Of the wondering multitude II can
net therefore. be denied that silver is very unwiedly
/ commodity for circulating medium; and welded,
many Of the citizens of Hamburg to their ancient
notary system they might at least ind one which would
be much more convenient than that which, to pay
Of about 100000. requires the conveyance for
great distance and at such great speed OF 2,S25 bars
weighing more than SIS tons OF standard silver TINS ar
rtv has hpor n
the vaults of the bank, and when to that Is added the
constant supplies which have been coming in from Eng
land and other quarters, the now deposited there
has rarely # been exceeded 1t is estimated
to be Of the value Of five millions sterling and there
not few here who Iow begin to wonder why with such
OH hand they should not obtain some OF the ad
vsntages Of circulation which they possess in England
where when recently the stock Of bullion did not greatly
surpass that held here they had the beueG OF up
wares of twenty millions ia the form OF bank notes,
by which its relative position, when compared with this
city. IN the time Of need greatly improved In
this view Of the matter, however specoas may seem.
there great faacy for in tue Isolated position Of this
solitary city, surrounded is by other States there IS
not tba, for the diffusion of circulation which there
Is England. and all that Hamburg could expect to com
nand might be only little than that which derived
from the local circulation OF Liverpool Of Leeds such
other places Of corresponding magnitude; aud may be
we'll therefore IL expectations should be entertained a. to
any thing that the thus given should be taken
into account before any change in the existing system
| should be attempted.
and Denmark TO avert alleviate the consequences Of
the present monetary crisis and although these have not
1
ground for the hope that they prove 20 be very
ecacious. The governments OF these countries in this
mater only perform paierual part, as they are acting
for the good OF their own people For the assistance
| rendered hr the Austrian government TO this city
claim ior having proceeded on more disinseressed
ground has been preferred bat in that distance also there
Is 20 believe that there likewise motive for
selfpeservan 10 actuate them: fer, IL the relief bad
LO been forthcoming, 1t quite understood that the dis
honorcd acoepiances which would have been returned
IRON hence to Vienna would have reached to such
amount that the IN that capital might
I have become fearful.
Great dissatisfaction has been given TO many OF the
mercantile community by the remarks OF some cores.
pondcns here Of English and other journals, and has
especially proved annoying that ia several instances the
names OF solvent houses have been referred TO In way
that could not fail ~ prove Injurious
u may be considered as proof that Hamburg s get
ting out OF her difficulties when IL is known that much
anxiety begins 70 be felt 70 the proceedings likely " be
adopted Britain for the sbrogaton Of the stale Dues;
but iEis y subject or which much has TO be said a. II
OF much in Oance "a be discussed AT the Tag end of
!ccr another opportunity will be awaited of 30 enter
uron more fully than Il Is now possible TO accomplish
The following dee patch, dated the 18th uimo was ad
dressed by iaron Manteuel President Of the Council
Of Ministers in Prussia 10 VI lie Kamptz. Prussian Charge
dArairs Hamburg. TO explain why the government OF
Berlin refused TO lend money 10 tina, city in the late
crisis
BY telerrarhic despatch Of the "a you announced to
me that the senate has resolved 10 send Berlin the
President Of the Chamber NJ Mchrng 10 obtain from US
loan Of from 10000 to 1000 900 thaers. " Mohring
called on ne on The ith ON thc subject and offered me a
security notes OF the Chamber and railway shares. i'm
media,ey delbcraied on the affair wah the other Minis
tcrs. We had strong desire to acquesce in the demand
4
many interests. aud know that aiding the
Of Hamburg should be useful TO that Of Prussia Never
thecss could not disguise from ourselves that
cordng the loan applied for should diminish power
Of assisting commerce and manufactures, and
that the Hamburg loan proved insufficient grave embar
might arise for Prussia Now felt convinced
that the sum demanded BY the town OF Hamburg could
not he sufficient; our elaboration in fact was inter
rupted by the that Hamburg proposed 10 borrow
Of 30 900 600 marks banco II therefore mpos
sble to come 10 decision in the first sitting When NJ.
Nohring returned 10 Berlin, after the town OF Hamburg
had dccreed loan of 1900 900 marks banco, de.
csred that the state OF financial establishments did
permit, 70 grant loan under existing circumstances
Tho National Bank OF Austria, which embarrassed
BY the circumstances the Prussan Bank relative
q the realization OF lis notes, could lend 10 Hamburg
10000 600 marks Notwithstanding that could not,
great regret indulge In the hope that the situation OF
Hamburg would become insantaneousy better: and IN
point of fact the authorities there celebrating
ha lakn 40