The Washington herald., 1922-01-01
Promising -Slovakia.

-. republic, formerly a part of the great
AUSTRIAN EMPIRE is in position which is
most favorable compared to the other countries
OF Central Europe This favorable position is based
.oR several factors Czecho-Slovakia has, primarily
been especially fortunate in the who have
had charge of her since her birth as an in
dependent state. She has had the advantage Of
possessing her chief leader. Thomas G. Masaryk.
her president who is unquestionably of the
standing figures of modern Europe. Masaryk
combines vision, tolerance and benevolence with
practical wisdom. Another strong and thoughtful
leader is DIR. Benesh formerly foreign minister and
now premier. Dr. Rashin and Mr.. Novak who
have had charge of the ministry of finance, also
men of courage and practical wisdom. The re-
suit of the policies Of these men and other leaders
has been a most enlightened course of action on
the part of Czecho-Slovakia, a course greatly in
contrast to that of some other European nations.
Czecho-Slovakia is a country of great natural
1t has rich mnes forests, access to
the sea by the Danube and the Elbe, as we'll as
splendid agricultural development. 1t has a very
great manufacturing industry, a large percentage
of the manufacturing of the former Austrian
Empire having been done in what is now Czecho-
Slovakia. With these great resources and the en-
lghtened policy of its leaders, Czecho-Slovaka is
held back only by the distressed condition of its
neighbors and the general world-depression. The
foreign policy of Czecho-Slovakia has been exceed
ngly successful The formation of the little entente
originated by DIR. Benesh has prevented the restor
alton of former Kaiser Karl to the throne of Hun
gary. Czecho-Slovakia is on friendly terms with
Austria and has recently concluded a satisfactory
conference with Austrian representatives. The
Czech government has also entered into an agree
ment with Poland under which arbitration of future
disputes through the machinery of the league of
he to hv hoth Dr
Benesh, when foreign minister, declared the for
eign policy of Czecho-Slovaka to be one of friend
ship and cooperation and such has proved to be the
case. The educational system of the country has
been extended and parts of the nation, such as
Slovakia and Ruthenia hitherto without sufficient
educational advantages, being benefited by this
forward-loobing policy. The Czecho-Slovak crown
is the best money of the Central European states.
The Czecho-Slovak government has practically
maintained the balance of the budget and has not
hesitated to impose taxation almost sufficient to
meet its expenditures. The result is that the crown
maintains its value. month after month, as sort
of an island of good money in the turbulent mael-
strom of deprecated currency. These evidences
OF the strength and stability of this nation
Concerning the industry of Czecho- Sovakia, the
London Chamber of Commerce Journal recently
gave some information, from which the following
may be taken:
"Czecho-Slovakia is of the richest terri
tories in Europe regards both natural resources
and industrial development. 1t has several rich
coal fields and radium gold, silver, iron graphite
and lead all mined successfully while the whole
country is abnormally rich in mineral and thermal
springs. By the peace treaty the Czechs become
possessed of 80 per cent of the industry of the
former Austrian Empire, but they have also lost
some so to 60 per cent of their former markets In
IL % toSt
was concentrated in Bohemia, and this industry has
today home market of less than I4ooo,ooo, as
against 100000 inhabitants of the former Aus
trian Empire. Czecho-Slovakia has, therefore, an
industry far too large for its own needs and in
addition to the recovery of old markets, new fields
have to be opened up in order to dispose of the
countrys surplus goods. The foreign trade of
the republic has been vigorously controlled by the
Government, but since Mr.. Lockhart's report was
written notice has been given of the decontrol of
-tracs in certain goods"
A correspondent in the Manchester Guardian
has given recent information concerning the fnan-
cial situation of the Czech government, some of
which is as follows:
at is satisfactory to note that in the third week
OF September the circulation of banknotes in
Czecho-Slovakia, diminished IIsooo,ooo kc not
withstanding the many pressing demands that were
plsde uDor the treasury. This stands to NJ Novak's
credit. Nor does he believe that the value of the
-Slovak currency can be rugged by artificial
means; he would rather trust to purely economic
measures which, at the time, would dispose of
the bogey of the fight of capital abroad There is
no need of it if alPs well at home. Another step
toward the stabilization of the Czecho- -Soyak cur
rcncy the gradual decontrol of foreign CURRENCY
At the time OF writing the actual figures of the
budget estimate are still unknown; but in recent
ute wi he min
stated that after all feasible reductions the estimates
would be about nineteen mlliards. as against four
teen miards in the current wear. If will no, n.
.hlc tcHhalancc