The sun. [volume] (New York [N.Y.]) 1833-1916, 1914-11-29


Ssekoiy. secretary Of the Immigration
Lcogac. gircs an interesting insight int
The economic conditions in Germany ana
Austria Hungary from a ToHon point o.
,ricr. Dr S.ckciy has just returned RON
Budapest He has tcritten several articles
IRON. Budapest for THE SrN
~ M. BELA syEkELH.
Next To- war bulletins. reports on the
economic condition of the warning nations
are watched with the greatest Interest 10y
students - European politics. France and
England are supposed to be possessed ul
all the money they may need. But VIII
Germany and Austria Hungary be aOle 10
raise the last few hundred Millions which
according to Lloyd Georges famous state
ment may win the war? Both OF the
TWO central European Powers are en-
gagged at the present in raising war loans
In Germany on october IS there was paio
in $40 million marks. that Is ~ per
cent Of the a., billions subscribed by the
German people No Government pressure
was brought upon anybody to subscribe
least OF all upon the great banks. Those
who know German public feeling we're not
SURPRISED by the signal success OF tins
gigantic war issue. The enthusiasm ana
confidence of the German people appear
10 bc simply boundless. Moreover. tht
speedy taking up of the war issues argues
enormous available funds IN Germany.
Few subscribers had recourse TO the
war credit banks in order 70 raise cash
FOR their payments Times have changed
II vas little over n ~ years ago tha'
the British mother OF william IL. Ms the
Young wife OF the then Crown Prince III
answer to Bismarclis question az TO her
impressions of Prussia. somewhat proudly
thNf.YaN ~
Manchester possessed more silver than all
prussian nobility Since then Germany
has been piling up the precious metals
The German banks circulate the war
loan at "A rate OF per cent above the
subscription price. This indicates that
this war issue Is based upon the solvencS
Of the state and not merely on the glow
Ing war enthusiasm OF the people. The
healthy economic condition of Germany
Is acknowledged by all unbiased ohserv-
ers and corrohorated by the statements
Of the Reichshank.
Early I'm AUGUST Austria Hungary raise j
its FRS billion kronen without song and
chime Al present new issue for three
billions Of kronen is being floated and this
weeks cable dispatches report that the
whole issue has already been taken un.
II Is a new type OF Teute In Austria o.
Hunrary--a 6 per cent. tax free Govern
m.nt bond. The rate OF issue Is 1850.
InrS" VINO Nt lbS' IUNlI lpihUES IbI
fve vars that Is who subscribe for SO
call "h'oo>,d pieces" have the privilege
OF demanding Atttr five wears redemption
at the nominal value of 100 kronen. The
Aus'fp- .ar'tl Bank ana the war
credit b9uss VII make on these paners n
,opn up tp - per cent. OF their nominal
value li 80. per cent interest, which rate
~ interest IS guaranteed for on" year.
The. is also %. ISSUE VI so krpn.n bonds
80 o.. r 'u ,ut1I, :he SIN Hest INVESTOR
TO- .'.- .rir,. Iu Germany I.l1o,o0h irGi-
v.tt.,.. -un-.l h.d 20 the war loan OF
.r.s. 'rn.nnu .a~erib,d more than zoo
mars. aud 2oO.ooo .ess than that amount
Fi-s, Public Attempt.
T.,s IS ,hc first attempt in Austria
vT".strv 90 rails, public loans by popular
e,.srripIon The success OF the loan
.lI~. r.u'.ou I- very satisfactory to the
lup.r,u.r' ana demonstrates the no
sources OF tine lual monarchy. In Austria
HuuCtry tl,'c has not taken iltca such
gigantic oC1rorric dov.lopm nj rs In
Germany. hut quiet and STEADY growth
which guarantees that the tremendous sac
riiccS required by tn, war may b, made
without affecting either public or private
credit
Stree the war began no important in
solvenci,s have been reported In Germany
nor in Austria Hungary. No moratorium
80 IIurr,r,. = Government decree Grant
od :, rasrit. for n,yments This MEASURE.
bowovor had for its object merely the
lesScuirg of the first shock to 'onomic
couditioD. cans Il hv the declaration 81
va Al m. end of two months provisions
vor. ,,aJ. ccr martial povronts and thi,
~ ,h., ho,i,riuy fo,. ~, rsne,l NJ the
,,,nr,tor,ur, I'm &c, ,ber % nor cent, had
IN ha r,Id on notes and 10 ner cent on
open accounts. 1t Is expected that new
49, 80 ~ f.,,..rr,,a,. will soon mo-
,,,aa tor ,rr,har naymar,s +, a. s,yrio
oa,, ,h',, n, ,ba Am.tro- Uuug,ri,r Rank
r,o,tea,t,, an ~ ,ha ,ot.s uoro taken I'm
T. -. ins,,,,'..s ,,o, ,,n,,. ,ba Iec,I .,
,,, ~ col, ,,,a,,r, ~. ,,o ,,td
nv t,.',,i.., s,,,a,or. IN ,b., economic
ne ,..i Linen. 40 ~ s,y,,u
s IT,. 20 ~. - o,'a,,.a and
, "'' -, % 49,, ,.,,,. a.. IA
"cH" ''' - 80 90 ~ ~ - ,, .',
VI o'1', SUI "',""S anu - 49,
nleh,1' ,"Nu INen w n.',les W. - L..
,ne cr'"I' ol .n'S' e''e,P was ~ y
IN ord%I =" UIeNtH' 'nt i'!uIe " w
fIl''i "us'i'SN ,n'n' Wal y,'",t o'nnS I'M,
nave pee" "rs",l' Nru 'n'o"s I,o', Wv uu' ,
being furnished 10y the AUSTRIAN ana
A' ~. ,,,,,.,,,,,, - -,
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