Albuquerque morning journal. [volume] (Albuquerque, N.M.) 1903-1926, 1922-03-21
100000 TOTS
DEPENDENT ON
u. S. CHARITY
BY FREDERIC j. HAsKIN

BlelllNlNC Nbl Us y lllN httlSltI e.
faced his playing of a gay Wen
nese air at a public mass meeting
held here in behalf of Austria.
The meeting was told that the |
S24,000,000 which America let Aus |
tria have to save her from starva-
ton now threatens to force her
into starvation in a greater crisis. |
This paradox is simply explained, |
We and other nations let Austria |
have money for Grain and necessl- /,
ties and We accepted as security |
her assets, including the state to-
bacco monopoly, customs receipts, |.
forests, even her tapestries and
pictures
Now. Austria has sunk deeper
under her difficulties. Whereas
five Austrian crowns were once eX-
changed for an American dollar, |
now 10000 crowns are needed to
balance our dollar. A loaf of bread |
costs $500 in crowns in Vienna. |
People in Austria see no advantage
in saving any money because the
longer they save II the less it will
buy.
Starved and in such a financial
state, a nation can scarcely survive
unless it can borrow money to start
again on a new financial basis. The
barrier which keeps Austria from
borrowing and instituting a cur
renCy reform is the lien that the
United States and other nations
hold on her assets, Unless we re-
lease our hold on these assets Aus
tria can have no security to offer
to the British and American finan-
ciers who are willing to make her
loans. This Is the desperate Aus
trian situation explained at the
meeting by Senator Mccormick,
the former minister of finance of
Austria, and by r'lief wor' ers.
Now, when otrer nations are
slowly or rapidly recovering from
the war. Austria has 100000 chill
dren dependent on charity This
army OF children--a greater num-
Der than the population OF Vermont
or ArIzona-has been kept alive
mainly by the Friends Service
committee. Relief organizations
are not able to care for so many
charges indefinitely, however. The
Friends who have worked in many
countries of Europe say that the
Austrian children are the most pitt
full OF all. One seasoned relief
worker finally had to leave Vienna,
81 could stand seem Russia's
tragic need,' she said. because i
seemed a crisis and we were work
ing toward betterment. But Aus
tria is slipping back. and her plight
i, tarpihla ~
Austria, the United States is
told, is not asking for charity now.
She has reached place where gifts
OF bread and clothing are not
enough. The country is slipping
into a morass of starvation and
poverty, and the United States IS
watched as the nation that has
power to save Austria from COM
plete downfall.
The United states IS asked to en-
tend the time of payment on the
Austrian loan, and even more urg-
emily she is asked to release her
hold on Austrian assets, so that the
country may negotiate further
loans.
Miss Helen Todd, representing
THE American Friends service com
mittee, the American relief cont
mittee for sufferers in Austria, and
THE Womens International league,
explains that there Is no reason
why we should not do this, and a
number of reasons why we should.
whether we agree to extend the
time limit on our loan or not, Aus
| tria cannot pay as matters stand
And II Austria cannot pay the
$24,00O.000 which she borrowed In
foodstuffs from the United States
! Grain corporation we could lose
nothing by an extension OF the time.
With this help the country may be
able to get on its feet and in that
event it expects to repay its credit
ors.
But even II the United States
does so, the country cannot hope
Ito pay unless it can borrow more
money to tide it over the present
hopeless situation.
A year ago, the allies saw that
Austria was sinking further into
difficulties instead of getting on
firm ground. Consequently at the
request of the supreme council,
England, France, Italy and Japan
agreed to release the Austrian as
sets, given as security on loans.
and thus allowed Austria to Dor
row again and try out rehabilitation
plans which had the approval OF
expert European financiers.
But it was stipulated by Italy
that the United States and the
smaller creditor nations must join
in the agreement before Austria
could be released from her obliga-
tons.
Edward A. Filene, OF Boston,
says: "Of these remaining credit
or nations, the United States was
the chief creditor and the most in
fluential. 1t was generally under
. stood that if we acted the other
: and smaller nations would alSc
J act; but since we failed to take
action, other and minor creditors
: waited for us and the matter was
delayed from month TO month while
Austria drifted nearer and neare'
p to the financial collapse which
, finally has come.
i. "This delay creates most dan
1 gerous situation for Austria. US
i ually the foremost in all philanthro
4 pic work, the United States, in TIM
!, case is holding up the PROCESSION
j led by the other powers. II coun
A tries such as Belgium and France
/ themselves cruelty ravished by war
i can favor this suspension of tn
\ Austrian debt, surely we can d.
so Geographically as Austria !
, utterly incapable of paying thi
, debt or arrears of interest at pres
r emit"
a As Mr.. Filene says, the UniteC
/ States delayed action and it looke'
as If the matter would never ge
8 hearing in congress. There wa
0 no one in this country working 70
2 it. At last, however, the Friends
}, Relief society and the Austrian re
n lief committee felt that congress
4 must be aroused to the urgen
need, If not of all of Austria, Ger
r tainly to the need of the 10000
I