The Washington times., 1919-03-28
NEWMONEYSYSTEM
FOR NEW REPUBLIC

PRAGUE, Czecho-Slovakia, March
2S.-Interesting lights on the hnan-
cial status of the old Hapsburg en-
pire are contained in an interview
which the CZecho-Slovak minister Vt
finance, DR.. Alojs Rasin, granted the
United Press correspondent.
DR.. Rasin. who was imprisoned by
the Austrians for his revolutionary
sympathies and condemned on the
ground that he had connections with
President Masaryk, is a lively little
cid man with shrewd ideas and clear
cut plans for the future financing Of
the Csecho-Slovak republic.
"Our situation financially is perfect
ly clear" says DR.. Rasln, Bohemia
resisted the Hapsburgs financially as
we'll as morally. People refused to
pay taxes, until there were more than
billion crowns unpaid. Now that
goes to the new republic. All the
people who refused to pay to the Aus
trian- Hungarian empire are now VOL
UNFAIRLY paying up to the Czecho-
Slovak republic.
Wants Francs as Unita.
We must have a new system uf
money. and base it on francs as units.
But we cannot make the change until
the frontiers are fixed. Temporarily
We must suffer the fall of the crowns
with the rest of the former Hapsburg
monarchy.
I'VE expect to issue our new money
secured by the loans of the allies. We
have probably a billion crowns of
gold hidden by people and q great
quantity Of English, French, and es-
pecially American money. People
have boarded it during the war.
We also have a lot in vaults. espe
ciaIly American money. 1t vas
brought to Europe by the American
soldiers, and got to Switzerland.
There it was bought up for crowns at
a fairly good rate, and brought by
courier over the border.
"Of course, we haven't enough gold
and sound foreign money to float our
entire issue, but we have mines, for
ests and railroads. 1t will not lie
necessary to have so much money,
since a franc will be worth four or
five crowns.
Then too, we will demand payment
by the Austrians and Hungarians for
supplies taken from Bohemia during
the war. Metals, such as brass, iron,
copper. were concentrated in Vienna
They have 4,OOO,OOO.O0O crowns worth
of stuff they confiscated from us,
which they want to give to their in
dustries. We are demanding they
ship it back to US.
Used Impressed WOFkmen.
THE Austrians used many means to
weaken us during the war. They
built factories around Vienna, took
our supplies there, and then made our
workmen go down there to make mu-
nitiOns. They allowed our own mines
and Industries to go to ruin. Now
they expect to keep what they have
stolen
ITO get money the Austrians took
the orphan and insurance accounts
il. our banks. They arrested direc-
tors who resisted this. The Austrians
deposited bonds-of course we have
the bonds. but they are not worth
much owing TO the fall in value Of
the crown. and the shaky Austrian
treasury.
Our first liberty loan or the new
republic was a great success. We
decided to float it secretly for 500, ,00o,-
GOO crowns. 1t never was advertised,
but in spite OF the fact that II had
no securities and there was no cam
paiEn, il was more than twice over
subscribed in one week. We got
l,O70, 100000 crowns without any ef-
fort at all.
That will finance US until We can
establish a new system OF money,
secured by support from other coun-
tries, who will be secured in turn by
our natural resources. The public
will have confidence in the new
money. and will not have to gamble
with crowns