New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1873-07-08
VOL. XXXIn.... NO. 10 O66.
AUSTRIAN TOPICS.
NOTES FROM THE CAPITAL.


ITRoS THE REGULAR CORRESPONDENT or TIRE TRiBuSB]
VIENNA June 19.-The financial crisis in this
sy has probably done its worst far as aecS spec
astors the Bourse. The individual baDkrupts are
counted by hundreds, and bubble banks and building
societies by the score tumbled down like houses OF
cards at the first blast of the storm. Some dozens OF
ruined operators blew out their brains eaped into
the Danube and much greater number took fight with
whatever OF their and other peoples yauabes they
could gather together IL the crisis had stopped nero
there would have been great for grief feope
Who speculate on Change take the chances OF loss ~
gamblers, and when the luck is against them 'nsS
have no right 70 expect sympathy from inc"
who their living by the lsoor VI '"'
hands brains But, unfortunately 'ie 'D'oioov
Of trade and industry are 50 ehtauEeu VIZ"
the affairs OF the Bourse that when one Is taken SICK 10
~ Inc Austrian brokers phrase the other must suffer
The Rourse has been dreadfuy sick for the past six
weeks IL gives signs OF conyalescence, but now the
great mercantile and manufacturing interests OF the
Empire are threatened with attack Of the same NAL
adv. commercial crash appears imminent. The
BOurse panic destroyed confidence, and that plant OF
proverbialy slow grow has not revived. Values are
depreciated large amounts of property Of all kinds
are thrown on tho market, and finding purchasers
except at prices far below their worth. and money Is not
70 be upon security that in ordinary times ample
Nearly all the merchants and manufacturers have heavy
bills falling due on the LIST Of July; the banks
will not lend them money on lDe paper
which they have heretofore been able TO
have discounted, and II they do not get assist
Anoe hundreds must fail who perfectly solvent
and the extent OF the disaster that will follow can
scarcely be estimated. The whole business Of the
country is built upon credit, and the fall OF one man
knocks down many others, like bricks In row. IL this
threatened disaster cannot be ayered the labor system
viii be seriously dsOrganzed, factories must stop work,
the railroads in progress Of construction must
suspend operations and many thousands OF laoorers
will have of earning bread In such an event
political disturbances would undoubtedly follow, for
nothing breeds riot and revolution in these monacRcal
countries as surely and quickly want Of employment
fOT the labOrlng classes.
When the wechsler Bank failed last week It lookedlas
~ bank safe Eyeryfman regarded his neighbor
with dstrust and even the Oldest and strongest
houses were suspected and of their insolvency
pervsded the city The Credit Ansalt pundered by Its
cashier Of half million Of forns-such things hap
pen in Vienna well in NewYOrk-StOOd hrm, con-
trary general expectations and other bank OF i'm
portance has suspended. Then came the cheering
news that the great mOneyed institutions that had
weathered the gale thus far had agreed 20 act together
and had matured plan by which they hoped to
prevent the calamity from falling upon the
general business community. This morning we
have the announcement Of this plan IN the
newspapers The plaD believe, Is an entirely novel
one and II 1t succeeds it will no doubt be adopted in
form Committee Of Assistance discount paper lend
money upon sufficient security normal rates OF Inter
rs purchase property and merchandise, and In general
to assist merchants and others who IN danger OF
being driven into insolvency by the deranged condition
the money market, aud TO do all that Is possible to
avert general crash and restore finance aud trade 10
healthful condition To constitute capital for tins pur
pose the banks subscribe various sums, according 10
their means, the National Bank leading OF
with 100000 forms, Baron Rothschild follow
Bg with 10000 forms, the Credit Anstalt
with 100000 forms, the AusrO-H Hungarian Bank with
$4,000 HOFDs and the Others with smaller sums inc
whole contribution aggregating $4,000 forms The
Committee appeal merchants and others Interested
IN averting the impending catastrophe 10 swell this
capital by their subscriptions, tue management OF the
entire fund thus obtained 20 remain in the hands OF the
banks the final disposition OF what remsins OF II 10
be determined by meeting OF 81 the Subscribers when
the crisis over. The Committee do not propose TO
save specuators from insolvency, to aid men who
cannot show that their business is prudentyimanaRed,
and that they have balance Of assets liabilities,
or would have II their marketable as in Or
binary times The Finance Minister il said 70 be the au-
thor Of hs programme, aud 10 have devised 1t as sub
sltute for Government aid for which there has been
much clamor He not willing 10 risk the Treasury
funds 10 such experiment and doubt thought the
should try themselves and their customers
before calling on the Government for help.
The continued panic on the Bourse, and the threat
ened commercial crisis ia not the only bad news The
rust m IN the Hungarian wheathelds, and the crop will
fail The Government at Pesth is already discussing
the proprety OF removing the duty so that grain may
he imported from Waachia Bringing wheat to Hun
gary il like carrying coal TO Pennsylvania or corn TO
Illinois You may know how serious Is the loss TO the
Hungarian by this action Of the authorities
With financial crisis at the capital ana the destruc
tOD Of the crops in the Of the Empire the out
look is very dark for the business world. OF
course the pleasure seekers who 6ock 10 the Exhibition
near very little If anything Of these gloomy reports
For them the city, flooded with the glorious June sun
shine is the gayes capital OF all Europe the orchestra Of
strauss pavs Am Sch6nen 6dusn DOau, and Vein, Wtb
4lnd Gesano as capuvatingy as ever, while the great
f. dazzes them with display Of beauties ana won
ders far beyond their expectations. Merchants over
whose heads rum is impending, farmers whose crops
will not return the seed and workmen who have no as
,nranee OF earning tOmOTOws bread, think very little
now Of the Exhibition or OF the gsyeties OF Vienna
Strange rumors are afoat about agreement be.
tween the Emperors OF Russia, Germany, and Austria
20 put end the political existence OF tue SICK Man
Of Turkey and administer upon his estates The last
report that entire remOdelDg Of the map OF East
err Europe has already been decided upon; that the
outiues OF the plan skeehed at the meeting Of the
three Emperos last year and that the arrangement OF
the details was the object Of the receut journey of the
Emeror OF Germany St. Petersburg and OF the Gar
10 Vienna The programme so the story goes Is AS fo
low. The Austrian Empire is 10 be dismemOered Bo
hema, Morava, and Austrian siesia to go 10 Prussia
Galheia TO Russia the provinces OF Upper and Lower
Austria. Syria the Tyro Carintha, and Crmioa TO
compose a new Kingdom GraDdDuchy, under the
sovereignty Of the Arch-Duke Carl Ludwig, the Em-
peror FIancsJoseph 10 abdicate and to assume the
sovereignty Of grand eastern empire, made up OF
Hungary Croatia, slsvoDa. together with all Fu-
IOpeau Turkey aud the seInlndependeDt Turkish de-
Tendencies OF Roumsnis wailacha and Moldavis,, ana
Montenegro The province OF Gallca would
OF course De less than Russias fair share
In this division. 80 she is 10 get beside
all Of hsiatc Turkey, unlimited opportunity TO
ush her frontiers the direction Of India AS far AT she