El Paso herald. (El Paso, Tex.) 1901-1931, 1920-02-14

Q crown can be bought for less than a
cent. but &c cannot be sold at all in
; London or Paris.
To Austrians the shelving Of the
peace treaty IN Washington, the
Withdrawal OF the American delega-
ton from Paris. are omens OF despair,
News Of industrial upheavals in
America threatening the prosperity
and peace Of the great republic fills
the hearts Of Europeans first with
increduhty and then with gloom.
America was the sheet anchor which
all men thought would hold firm.
whatever the force Of the Tempest
and America IS now felt 10 be so alb
sOrbed In her own problems that she
has no time for those OF her less for
tunate brethren.
These lands throughout southeast
ern Europe have sunk into an eco
monte Dark Age. It Is not fair TO
speak OF civilization having been de-
strOyed. what has disappeared is the
whole industrial fabric Of society.
Intelligence. ability. culture, and even
a sense Of humor remain
Money Is worthless.
Money in all these countries IS
rapidly becoming worthless In reaii-
~ il is already entirely worthless. be-
cause there is nothing back Of it. and
mus as between two independent
states it viii buy nothing at an
Within the frontiers. however. even
in Austria where the kronen has de-
clined to much less than an American
penny money still has some purchas-
ing power.
Negotiatous between the govern
ments Of the new states show cla~rlr
enough the true economic position,
The Czechs VIII not sell coal TO AUS
tria in return for Austrian kr0uen,
no matter how many. for If Austria
could get coal Tor paper money she
would merely need TO speed up her
printing presses little faster.
Prague would be no better Off for
. the arrival OF carload or two OF
Vienna bank notes.
Accordingly. IL Austria wants food.
she is asked what she proposes q
give in exchange: and Prague and
Budapest have Drofitted by train
loads OF manufactured goodss the last
remnant Of pre-War stocks. sent from
Vienna 70 pay for food needed 70 keep
Of the capital alive
Germany Has More to Offer.
II GeranT's position IS FAR more
. tolerable than that Of the smaller
Of greater value. but because in the
new interna tional barter Germany
has more 20 offer than her less for
tunate nelghhors. Last sumner 10000
miners in the Ruhr district in Ger
many worked extra shifts. called
agreed by both the German and Dan
ish governments that the extra coal
produced by these extra hours would
be sent TO Denmark. in return for
butter This extraordinary Incident
1oresnauoWs a possible development
Of the barter system. The miners
would not have mined the coal which
Denmark got. no matter what price
IN money had been offered. and the
coal would stil be in the ground. Il
the butter had not dug it out
Galicia produces oil and timber.
Bohemia and SLesia used 90 provide
coal. sugar and hops. Hungary and
dugo-SlaVia were once able 10 export
foodstuffs. while Austria had a big
paper industry, rich iron ore deposits
and a large iron industry. and her
factories turned out locomotives. cars.
agricultural Implements.
Free trade between these now indie
pendent units would enable normal
burden OF bankruptcy were once re-
moved and the power supplied from
outside to set the economic machine
working again
Iained Currency.
4 unified currency scheme IS also
a dream OF practical men in al the
new countries After the armistice,
the Jugo-Slavla created money by
putting rubber stamp on the Inn
periai notes that happened to be in
their country. The Greens AFFIXED a
new postage stamp 10 the imperial
crown notes. The Hungarians have
stamped theirs
Each OF these crowns now has &
different value, IL Torthlessness can
be a matter OF degree. The Czech
crown stands at the head Of the list.
Il is worth three Austrian crowns and
two Jugo-Slav crowns. A lourishinE
industry has en- consequence arisen IN
stamping imperial crowns with the
insignia OF Czecho-Slovakia. an easy
form OF forgery. as the only tool
needed Is a paste pot. but the cost OF
the Czech stamps which have 10 ne
pasted on the notes taxes away some
Of the profit o. the transaction
and Czecho-Sl oVakia maintain armed
guards across the provisional frontier
line, which runs right through the IA