The sun. [volume] (New York [N.Y.]) 1833-1916, 1916-02-19

VIENNA. Jan. s.-"rhs English block.
AIDE. shutting US of from the markets OF
the world. was q heavy blow nj the dual
monarchy. The fact that our enemie,
continued using the in%exhaustibie 70.
sources Of the world while these wers
withheld from US caused us great
anxiety. and We could not help beins
alarmed regarding the final outcome OF
the war" Philip Brooch. president Of
the Vienna Imperial and Royal Privileged
Verkehrsbank. said this to me. Then hs
continued:
but like 40 many other things which
nave taken a different turn from the one
expected. the English blockade Of the
central Powers has turned out to BE- &
blessing in disguise. Compelled BY ne.
cessity to do without the financial as.
eistance OF the neutral Powers. Austria
hungary has come to learn how to con.
duct the war with her own economic and
financial resources.
Even prior to the war we had no,
been In favor with the great none,
powers OF the world. and We had to de.
pend almost solely upon our owu
strength and upon the Of ouI
own economic life In order to build ur
the economical and political structure
Of the dual monarchy. This previou,
experience prepared Austria-Hungar
for the present emergency and enables
her In h thick Of her present life ant
death struggle 10 be equal to the task OF
depending entirely upon her own strength
Financial STRENGTH Growing.
Those who have closely followed the
economic development of the dual mon.
archy will not be surprised by the eco.
nomic and financial power and indie
pendence which II has shown. In thi,
respect let me point out only the on,
fact that the public evenu OF the mon.
archy have Increased from $500. 900. OO(
. year In 1900 to $l.lS2.00O. 900 In 1915
the increase being more than $500. 900.
900.
On view Of the wonderful progress,
which the consolidation of our economi,
life has made during the last ffteer
years II Is safe to predict that publ,
revenues In the future will show an In,
crease rather h a decrease. Ever
should the worst come TO the worst ant
Austria Hungary be obliged TO pay tn.
war expenses out OF her own resource
the annual growth of the public revenue
would enable her to pay the interest oi
the war loans. Inc per capita con
tribution to the public revenue in Aus
tria-Hungarg, including the Governrnen
Owned railroads. postal and telegraph
service. amounts to about SEQ. An aver
age Increase Of 81 per capita would ne
a yearly sum OF o $500. 000. 900
which would suffice to pay ) per cent
interest on $4,000. 900. 200.
Our enemies are in an entirely differ
ent position. They had to Withdraw
enormous sums from their reserve fund.
! In order TO make payments in foreign
countries for war material. This cause,
a great outflow OF gold. or. 10 speak II
popular language, the Entente Power
had TO submit the body economic of theil
| various countries to a severe financia
bleeding. In addition to this they haC
to contract huge loans abroad. on thu
contrary. the money with which ths
Governments Of Austria and Hungary
pay for var material remains at home
II quickens the life. makes Dor
rowing from banks easier and blei
people to increase their savings. II
short. IL proves u boon 10 the countr!
and strengthens it's financial position.
Tia facility with which We are rails
| .ng the money necessary for the prose
cu;ion of the war is proof conclusive %
! this statement. Our three war loala
have resulted In subscriptions amount
ing to $4,000. 900. 900. and notwithstand
ing the fact that the money with which
| the subscriptions were paid for has beer
drawn to a large extent from banks oul