The sun. [volume] (New York [N.Y.]) 1916-1920, 1919-02-13
Finances Thrown Into Chaos
by New Republics Restamp-
ing Imperial Money.
KRONER rs DEPRECIATING
Experts Say Liberated Nations
Are Digging Financial
Pit for Selves.
Bv fbs 1ssociffed Tress.

'ne FORMER empire because OF the recent
efforts OF the new republics to discard the
1 old paper kronen of the Empire by re-
stamn,n. thar, an TIM, 4, .os,, ,b.v ,..
''e''' nv ''''' III eiieo' ''ey oe-
come new money. 1t is not question
, of partitioning the exact share OF each
republic In the money OF the old Emp,re
, At the present time there are about 3s.-
600, 900 900 kronen fs7eoo. 0oo. ooo) OF
this old paper money in circulation. while
! the new Austrian state has only about
, 10. 900. O0O. 900 kronen $4,000, o0O, ooO)
| in circulation.
The question has an internat,ona,
phase. since much OF the old money IL
held in the Ukraine, the Russian prov
| inces. Galicia, Poland and In French,
English and Swiss banks II the money
held abroad Is not stamped. It has no
circulating value in any of the new re-
publics
Foley or self-destruction.
The bankers say tho s,,,,,,or {, hound
IN have gao, ,,e,,e ~ 70 ou'.u
cial future ot ,he s.ya.ai ran,,h,,,s
which. they assert. are n,rs,inv a no,,cy
Of self-destruction in cbane,nv tho vain.
of the money now in c,rcuiation
The fashion Of stamnIns the o,d
Aus.ro-uunvar ri, - t,-,r., 80. - -
Slavia. A r,rbber stamn va. u..a ana
each city used n different ,orr, ~ .tsrn
A law was ma sved that no naner tronsn
would have a circulating valua u,is..
stamped.
The Czecbo-sIov.r cXrarc.,. ...n
declared thai M moro Lronan sho,,,, y.
i,nnorted int a.. ,arr,. ou oe
h.bited outside bank. Sror, transferr,r.
into C.echo-slovak,a the Austro-Hun-
ha N lf..t,
to the Bank of England notes In Eng
land. The Czechs also began 10 stamp
the notes under the same system as the
JuEo-Slavs.
Presumably the Austrian re public also
will begin to stamp the notes, to protect
herself against an influx Of unsta n,ned
notes. Or. Alfred Treicht. director OF
the Anslo-Austrian Bank. declared to-
day that IL the Allies did not want
Austria to be driven financially to Join
Germany some solution OF the s,tuatIon
must he found. a. the kronen ~ do.
preciatIne RAPIDLY IN valI,e I, ,nrs,rr
countries.
The Cxecho-Sloyak Government, Ia "a.
ported to be preparinp 10 issus pav
money In the form o, the French franrs
In 10 this time tha uu,,.r,a, 60.
eminent has taken no actInn T., ~.
matter
Professor Coolidre ,ba s..a -, -.
American t,co,o,rie u,.... o
mer Aus,ro. Hmngar,.n 49,, W '.e lot
psrinp a r.nor, ~ ,ba ,,a.i' -
ton 10 the pace Co,foran,,n ~, &c,
nAc,s y, w. en,o' ~ o'' az as
hankers ,nd h,,sInasa -, ,
conr,,,,,Io, r,i,l ~, '''e' i'">e "eeh IN
Lnbor sr.,c.. t,.,,h
'"'e'
The situation 10 being given profound
hx, ~,
newspapers are printing long articles
concerning II in which they contend
mat the only way to solve the present
Gepreclat'on In currency is to open In
Justly ana put the people TO work
.nro"Rh inc IMPORTATION OF raw mate |
ria"
scarce 'houeh idleness
rs hecen''s an advertisement |
.u,,os ~, .',e' " Clean 'ne streets re-
me governments OF the small republics
ing indemn,tIe. % ,ha idio vi s'a''-
There ia great snecnIa,,or .,
bonds, while the sale OF Polish n, ssnor,.
is finding a large marke, a.. 80 ~
desire OF people TO travel abroad R,ch9
ard Strauss. the German composer ~
Gently asked the correspondent ~ he |
thought tho composer would be able "a |
ha'el SHpININ heSl slsOuUCe his music |
Members OF the court OF the former en- |
pre- also have asked IL II were feasible |,
10 travel For them false passports are |
OUT OF the question, since they are 90 |
Wen KNOWN
lnere IL much uneasiness over the |
raising OF tariff walls within the former |
empire The Szechs are unwilling to |
seH goods ana accept payment In the old |
austrian money
"aither Federn editor OF labor |
Journal told the correspondent that the |
question OF credits In the new republics |
was most important. AS for the debts |
OF the former empire, amounting to |
l2O, 1000, 100000 crowns 's24 900. 900
000(." said Federn I'VE Austrians must
take our share. and II the Poles. Czechs
and others try to disown the debts IN |
much worse for them and their citizens i
who are large holders of the war loana
Must Sink or Swim Tosether.
",, s.a,,s "a va, l., ,Ao ,,,.-..
,,o,, ter ~. C.n.h. 80 T T sues
'' w ''" 'uso-H'eNs
cr""ns' Is ."se LOT All OF us 10 SINK
monevs and refuse n acren, tho n,or.y
OF other republics 1t VIII result In a
mercantile balance. II bankruptcy |