El Paso herald. (El Paso, Tex.) 1901-1931, 1920-04-24
AUSTRIAHS HOPE
FORFEITURE Of
COUNTRY
Chancellor Renner Predicts
Economic Revival
in Nation.
CREDITS NEEDED
FROM AMERICA

7 ONDON, Eng. April 2E.-'Despite
l. the great difficulties against
which Austria has to struggle
there are stiu prospects Of her eco
nomio survival" declares DR.. karl
Renner, state chancellor OF the re-
public OF Austria. IN an interview
with the correspondent OF the Sun
day Times. ''Ths chief requirement
IS that England and America grant
credits to enable her to set her IN
dustries going az full speed
" herever one looks there are
regular work. Moreover confidence
is spreading abroad because Of the
maintenance Of order in Austria, and
as a result OF realization Of her eco
nomic Opportunities
During the last month the num-
Der Of unemployed has been consid-
er1bly reduced. partly as the result
OF severe control Of unemployment
allowances and partly because Of the
increase IN Industrial activity The
sum to be devoted to payment OF these
doles VIII play a very unimportant
parl In the coming budget
DeureeiatIon Causes worry.
Expenditure FOR the civil service
officials win naturally be consider
able But the number OF them Is not
nearly 80 large as has been stated II
certain exaggerated accounts
Tbs chief cause Of the budget de-
ficlt is that Of the depreciation OF the
currency. As a result OF trade re-
Etrictions On the part OF che coun-
tries on her borders. which countries
formerly covered all her require
menls In foodstutfs, together with the
considerable decrease in production
during the war. Austria IS forced 70
OBTAIN means OF EuEreDa1ce from
America although because OF the
80
for these supplies are enormously
high All the same, an immediate re-
rurn 10 the prices OF the world mar
ket parity would lead 10 serious So
reason that the state bears the bur
den Of the difference between the
purchase prices abroad and the sell
Ing prices at home
Foreign Capital Invited
Austria can offer very profitable
possibilities for the investment OF
foreign capital Her forests and her
water power form a basis eor great
industrial development. 5e1ore the
war there were many English firms
which had flourishing factories in
Austria. such as sewing cotton mills.
factories for cslulose fabrics. enEi-
neerinE Worzsi etc
1t Is with great Inward satisfac-
ton that We can point TO the fact
shat tho Austrian people, despite their
terrible prlv1tionss have never lost
their patience OF self control Where
as in Germany and Hungary on the
north and east Of our frontiers. boil
EheTisu and civil war have led TO the
terrible bloodsled. yet IN Vienna
there has been no attempt al q forci-
BE overthrow OF the government
This Is due 70 the peaceful character
OF the population. and to the severe
Eelf-discipline Of the Austrian work
ing classes
Copy Swiss Constitution.
This is also demonstrated by the
fact that the two great parties, who
were always strongly opposed TO one
another. formed IN the hour OF need
a coalition government TO work IN
= harmony for the salvation OF the
country The coalition between the
Social Democrats and Christian So
cialists % founded on a very detailed
program which regulates ali impor-
tant questions On the basis OF COM
promise.
'sThs question OF the constitution
VIII. presumably. be solved In the
SANE manner. Both parties wish to
form g democratic federation on the
Swiss model"