Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1922-07-02
AUSTRIA IN POLITICAL
AND FINANCIAL CHAOS
Ministry Succeeds Ministry,
Each Heir to Larger
Problems.
KRONES NEARLY WORTHLESS
New Iinc-tp or tho Parties Puts So
cin1ists IiopcleasIy in Minority, Re-
dictionaries Flaming TO Wipe Out
Much ProHrcsnivc LcgisIntIon.
KRONEN NEARLY WORTHLESS
fEy Assoclntedp ressl

tEy Associated Pressl
VIENNA. July With the Chria-
tian Soc!alist-Pangerman coalition
ministry formed today in succession
To the Schoher nonpartisan bureau
cratic cabinet. which fell recently.
Austria enters upon another expert
ment In government.
Ministry has succeeded ministry
since the Social Democratic majority
VAS overthrow in the elections two
years ago and left no party with n
WORKING majority in the national as
ScinbIy. Each has assumed Office un-
der greater difficulties than It's pre-
! ----. S-aPii- -. =;:pc r,ies& 49,
torment IA living conditions, duo Il
widely bestowed charities and for
e!gn credits sufficient at least for
1000 and the fact that ;he constantly
dcprcciating money Increases In
quantity and s;!!i has internal pur-
chasing power. this new ministry
races an actual economic and iinan-
cial situation conceded TO be worse
than has hitherto existed
Kronen Again Drops.
When the Seipl governments. took
ONCE. the kronen vas. 1900 TO one
dollar. II Is stated that the rccent
British credit was virtually used IN
IN an cnort TO stabilize the currency
For two months this policy succeeded
In holding the krone around 1900 TO
the dollar. but crcently the dam broke
and II fell al the rate OF ]. 900 kronen
day.
Prices OF necessities have I'm to
world parity and above, an dine new
municipal social!s, rental tax. while
yielding the landlord nothing. has in
creased rents enormously This tax
goes 10 The City FOR building and
repair FUND for the ameliorat!on OF
housing conditions
ne consequence has been the nat
uFa! one OF demands for higher pay
hy al! classes. from government en-
p!oSes TO unskilicd labor. The re-
cent Schober government granted
,he enormously increased demands
OF the civil servants and met them.
together with other obligations bv
means OF the money printing presses
until the currency circulation has
reached the astounding total of over
42o. 600. o00, 900.
Lnbor Issue Sharply Drawn.
industrial employers, however
nave offered resistance and in in
stances affecting some 100000 en-
p!oyes. they have denounced exist
ing wage agreements. The issue has
become sharp one. So far the la
Dor unions have shown A moderate
and conciliatory spirit, and have
avoided an open break
Employers claim they can no long
er manufacture for export in com
petition with Germany. where wages
and living are far lower than in
Austria, even on a gold basis. Tho
instability OF the krone, its wide and
sudden fluctuations. also make il i'm
possible, they say. 10 deal in future
contracts. Export Is practically at
standstill, and there is widely un-
employment
This Is the situation which con-
fronts the bourgeois ministry of Non
siGnor Seipl. by tar the most reac-
tionary IN It's makeup that the re-
public has had. The new Chancellor
is cleric and considered one of
the cleverest politicians in the coun-
try
Socialists In Minority.
The Christian Socialist Pangerman
combination throws the Socialists
into hopeless minority in the Ma
t!onal Assembly, and 1t is worry freely
predicted that the new conservative
coalition Will undertake to wipe
from the statutes many of the laws
placed there by the Socialists when
they were in control. The Socialists
still have one weapon. however. in
the fact that financial legislation re-
qu!res two-thirds vote of the as
sembly. which the coalition cannot
muster.
Tho Pangermans have made il dis
tinctly understood that the working
agreement with the Christian So
cialists must terminate with the
generally believed imminent cleo
tons At the same time they have
not abandoned the slogan of fusion
with Germany In recent speech.
their president, DIR. Dinghocffer. en-
phasized the statement that the abb
sencc OF any clause In the Austro-
American peace treaty STIMULATING
that Austria remain an independent
state was a great and joyous as
set"