The Washington times., 1914-08-02
WAR FINDS AUSTRIAN
FINANCES DEPLETED
Country Suffering From Effects
OF Balkan War-Imports
Exceed Exports.

Austria-Hungary is in no condition,
financially, for war The conflict in
the Balkans seriously affected the dual
monarchy A failure in crops in CAL
icia. which followed added still greater
difficulties. During the past year. The
United States exported great quantities
of foodstuffs to the dual monarchy. /;
Consul General Charles DENLY, COM
mercial representative OF the United
States in Vienna, has just reported fully
setting forth in detail, the effect the
Balkan wars had on Austria-Hungary
and the serious condition following on
account Of failure of crops.
Austria Hungary was affected by the
Balkan wars more than any other ma
ton, outside of those actually involved.
Consul General DENLY reports. Gold
left the channels of trade, the rate OF
discount reached 7 per cent and the
unemployed withdrew their savings
from the banks for their daily support.
One per cent Of the population Of Cali
cia alone. including those who enlisted
In the army, were driven to emigrate on
account of the failure of the crops.
Imports Exceed Exports.
Austria-Hungary's imports exceeded
its exports by Slo5 200, 900 in 1918, accord
ing to Denby's report. About one-third
Of the total imports came from Ger
many. Owing to the imports of raw
cotton. imports from the United States,
ranked second to those from Germany.
Those from Great Britain, Russia, Brit
ish Indian and Italy followed.
ish India and Italy followed.
Raw cotton is taken into Austria
growing countries: the United States,
India and Egypt, and cor<erted into
cotton cloth for the makets Of Turkey,
the Balkans and Russia.
Knit jerseys and the heavy woolen
underclothes suitable for winter sports
are made in Hungary. from the wool
from Argentina and Australia.
From the silk in the raw state from
France, Italy and Germany. comes the
silk fabrics that find a wide market
In Great Britain. Germany and Italy.
From Austria Hungary comes milady's
handbag in sealskin. pigs skin and nne
cowhide. The manufactured leather
articles of Austro-Hungarian produc-
ton have a high reputation throughout
Europe, and are exported extensively to
the United States.
Germany Is the great laboratory which
uses the lions share of the chemical
elements with which the soil Is rich in
the neighbor monarchy.
Austria-Hungary imports iron and
iron manufactures. In 1912 the imports
amounted to $4,000 tons valued at $685.
$4,000 and the exports to 1884 tons.
valued at So, 10000.
Austria Hungary is mainly a market
for monographs, pianos. cash registers.
electric machinery and electro te clinical
articles. Germany supplies this market.
Imports from America. comprising
great variety of Instruments, and novel
ties not to be classified, in the year of
1913, we're valued at 81 100000.
Besides these, there was a great
" nf NJ
cluding 81 10000 worth of reapers and
mowers and $2O0,OOO worth OF metal
working machines.
Buys American Products.
Austria Hungary's imports from the
United States last year are estimated
at about s6O.pO.oO0 The largest item is
raw cotton. Other large items are tor
bacco, iaxsecd. mother-of-pearl, and
mussel shell. asbestos. heavy lubricat-
ing oil and copper.
made of wool which show the handi- ,
made of waal which show the handi- ,
craft OF the native workmen hold a good
market with the American trade.
\ glance at the table of AuStr Hun
sarian exports given In the report on
Consul General DENLY. shows that the
arge proportion of the exports is made
Ip of manufactured articles. The consul
states that the explanation Of the large
balance on the side of the nations trad
ng with Austria Hungary is that Aus
ria has become largely industrialized
md that the former favorable trade bal
inces were due to the large eNpnrta-
ions of raw materials or foodstufts.
rhc increase of the manufacturing pop
ilation leads to the consumption Of the
oOd products at home. and to the i'm
'ortation OF great quantities of raw ma
eriais to supply the factories
Again, the report states that the conn
rs is particularly adapted to manufac-
urins. Labor Is cheap. water power
abundant and the large markets on
Turkey Russia and the Balkans near
L hand