The daily exchange. [volume] (Baltimore, Md.) 1858-1861, 1859-05-11
THE FINANCES OF AUSTRIA.

From the Paris Patrie.l
1t Is fact which has passed to the state of an
axiom, that the financial condition of Austria has
been greatly embarrassed for loug time past
the bud getary accounts rendered themselves, al
though drawn up with great deal of ability and
with the view of discriminating as much as posi-
Bile to establish the truth of her preteutions, Of
fer superabundant proof. Not that the receipts
of the Austrian government have been stationary;
on the contrary, no State in Europe it may be has
within the last six years seen its ordinary receipts
progressing rapidly those of Austria have
progressed. In creating some new mposts in in
creasing and re-increasing the amount of old i'm
posts; in submitting to the regime of certain mon
opolies tobacco, &c., the provinces which, until
lS4S, had been exempt; and in applying itself to
favor, at least the material development of the
empire, the government in ten years succeeded in
obtaining an increase of more than seventy per
cent. on its ordinary revenues. OF one hundred
and sixty one millions of forins (the Austrian for
in, before the Monetary Convention of the oath of
January, 1857, and which only entered into vigor
since the LIST of January, 1852 worth two francs
GO c) in 1877 they have amounted to 1S2, 900 900
in 1850, to 224 600 600 in 1852, to 245 600 900 in
1854, going beyond 900 900 in 1885, and attain
ing the sum of PIG 000, 900 of forms in 1857.
Notwithstanding this, the settlement of 1916 was
the last in which the budget was closed with bal
ance exceeding 1,l30, 493 forms; since that time
deficiencies have became the rule while the extra
ordinary receipts $4,000, 900 of FERNS in 1851
were constantly added to the ordinary resources.
Of 54,O00000 of forins in 1850, the deficit was &c.,
OU,OUU III 1000, winch decreased 10 4Z,UUUUUU In
1855, to remount to 100000 in 1856, again be-
coming $4,000, 900 in 1857. These figures are far
from expressing the totaty of the charges which
weigh upon the Austrian population.
The budget of Austria drags after it, in the mo-
dest form OF single contingent, a second chapter,
comprising the provision and the employment of
the special resources. These special (ac
cruing from consolidated and floating debts, the
sale of railroads, &C., and the expenses which cor
respond thereto increased in 1856 to $50 OOO,
900, and in 1857 to lis, 000, 900; and it very
modest because in tie exercise in the preceding
year, 1857, the especial resources" had not been
sufficient for the expense of 1868, 900, 900 of FORMS
The expenses of the Austrian government were
then increased in the all but normal operations of
1856 and 1857 to 4S6,000,000 and respectively to
$4,000 900 of forms, when the ordinary and extra
ordinary receipts Con the part of the Besondere
Zufusse) did not reach sum of oil ,OOO, 900 and
respectively of los, 100000 at the disposal of the
treasury.
The budget of war is, in truth, the real ''never
dying worm" of Austrian finances, which aggra-
Yates in a manner rapidly increasing the charges
already sufficiently unwieldy of the countries in
submission to Austrian rule. 1t is about fourteen
or fifteen years that the budget of war Tin l845)
did not even reach the comparatively moderate
figure of 50, 900 900 of forms.
The wars of the revolution of 1S49 caused it to
increase rapidly to l65, 900 900; it then decrea- ed
in the following years, only to amount again to
double the figure of lS45, but l. was seen in 1855
to amount to ia 900 900 in the ordinary expenses,
and to l0l 100000 in the extraordinary expenses,
making together nearly ZIG 900 900 orns, or about
quadruple the figure reached ten years before.
Thanks to the reductions already mentioned, they
have been able in the two following estimates to
reduce the war budget to 1913 900 900, and respec-
| lively to 100000 forms. And these are the
budgets of peace 1t is useless to say that in con-
sequence of the vast armaments which Austria has
| made within the last two months, she must to-day
have largely increased the maximum figure of 1855.
| A war, however small and little serious, will rapid
ly double and triple this igure-the war would be
itself more victorious for the drapeau jd,me-noir
| (the yellow and black hag). Is Austria in posi-
| ton to support expense of 600, 200 900 to
| zoo, 000, 900 of forms year?
We believe, that the ''partcular resources" have
| visibly commenced to be drained off. One princi
| pal resource has consisted. during late wears in
| the successive sale of railways, which the State
| in better times, had constructed out of its own
| funds or commenced to construct. But the most
| important and the most productive lines are al
| ready alenated; the sale of some secondary lines
for the most part unsaeable, would be like drop
of water to an Unsuitable thirst, even suppOsng
that at so critical a moment, when war against
France and Sardinia is entertained by Austria, that
| they could succeed in finding purchasers.
On the other hand, Austria, at all times indebted
has since lS4S drawn largely on the sources of pub
lie credit: loans at home and abroad; loans from
| lotteries, and at premiums; voluntary and forced
| loans, all have been tried and exploded. Since
1916, when the consolidated and floating debt was
| increased to one thousand and lightweight mil
lions OF forins, not single year unto 1856 has
| passed without the augmentation OF sum more or
less heavy. From lS47 to lS53-that is to say, I'M
til the verge of the war in the East-the debt had
increased to eight hundred and sixty eight millions
! six hundred and ninety-two thousand eight hun
dred and forty-two forms. 1t is true that in the
same space Of time it had been reduced by one hun
dred and thrty-three millions; there remained
! nevertheless, an increase of seven hundred and
thirtyfve millions, which brought the debt to one
! thousand eight hundred and twenty-three millions
! of forms.
| The three so-called national loans of 1854 have
added nearly 600, 000, 000 in a manner that, not
withstanding the feeble reimbursemens made to the
Bank of Vienna, and the withdrawal of certain
quantity OF paper money, the public debt in the ten
years from 1916 accrued to than 100 per cent.
and authentic documents, into whose details we
cannot enter for the of space, carry it in 1857
to 24OO, 900 of forins, which is 5000 900, 900
of francs. The payment of interest absorbs nearly
the half OF the ordinary revenues; with the budget
OF war, to which, in a great measure, it its
existence the public debt absorbs vesixths of the
ordinary resources. For the rest, the government
itself has learned to dsdan the duty of counting
its financial means and of taking into consideration
the contributve ability of its people, which it will
already find powerful obstacle to new loans in an
attitude nothing less encouraging to capital. The
complete check which the last loan, comparatively
small one $4,000, 000), and patronized by the
first financial power of the age, has received in Eng
land, is in this respect eloquent argument which
renders all commentary unnecessary.
DT-rr, ID