New-York tribune., 1922-09-17

dred! Who wants Austrian crowns?"
OF course, nobody wants Austrian crowns,
because the weight of the paper money is
greater than the weight Of the food that can
be bought with it. So discredted has the
money become that the other day, in passing
through a village in the Tyrol, l found
twenty-kronen note that had been scorned by
some threadbare children playing near by.
And yet the people are far from being calm
about the tremendous acrobatic antics of the
exchange in the last few months From
newspaper editors in the big cities to the
smallest shopkeeper in the most distant noun
tain towns the hysteria is gaining daily.
"Wc are getting to be like Russia they
cry. "Our money is worth less than moth
ing. Any foreigner can buy up our whole
country, and we can hardly afford to buy a
pound of lard from him" And this complaint
seems thoroughly justifable when you con-
slider that within the space Of one week the
crown fell from II, ZOO to the dollar to 21,700
to the dollar
On the receipt of this news there was imme-
1t was spoken of rather drearily, however,
for every man knew that the problem could
not be solved that way. In the first place,
Austria is so far from being sef-supporting
that she must, for while at least, be almost
entirely supported by the capital Of other ma
tions. In the second place, every fery-tongued
orator knows that revolution would involve
immediate occupation by Allied armies.
Tha rumor Of revolution passed quickly,
to be supplanted by far more astonishing
news We were told in confidence that there
was a strong movement in favor of uniting
with Italy. Austria, the age-long enemy and
sula, uniting with Italy
Distracted hotel keepers in the Tyrol ex-
postulated wildly.
eve are going to ruin in this country!
Our money is worth nothing here in Austria
or abroad We must unite with some country
France will not permit US to unite with Ger
many She will not even permit US to ally
ourselves with the Little Entente of Central
Europe Switzerland does not wish to take
US over. Therefore our only logical step is
to unite with Italy. The Tyrol at least must
do this. We must unite with italy,"
And there come stories of how there is a
band in Innsbruck (the capital of the Tyrol
and the second largest city in Austria) ready
to run up the Italian flag at any moment and
declare their independence of Austria; of
how there are Italian soldiers on the border
prepared to break across into the Tyrol at a
moments notice and patrol the new adjunct
of Greater Italy; of how the question of
bread and butter has succeeded in over
whelming all questions of an Independent
nationality in the ruins of a great European
empire.
To all this the government in Vienna has
demurred mildly. There has been talk of
strenuous measures to offset the talk of
revolution; there has been demission of the
old ministry and the formation of a new
ministry; and finally there has been talk of
a reconstruction of the countrys finances.
The conversation (at present writing it has
gone no further) on this last subject has
resolved itself about the formation of new
Noten-bank, with capital of about $40 ,OOO-
600, which is to be secured from foreign
loans already engaged for. The old paper
kronen will be redeemed at branches of the
bank to be opened all over the country, at
the rate of twenty to one of the new unit.
the heller. If this plan is ever consumnated.
and the bank established with a large gold
reserve, we may expect new era in Austria.
In the mean time the situation has its
amusing aspects. Far from having an impoy-
erished appearance, business seems to be -four
ishing as it never did before In the early
part of June the country is already crowded
with tourists of all nations-Englsh, of course.
as always, in innsbruck; large numbers of
Germans, who find Austria about the onlv
country they can travel in; great many
Frenchmen, and growing numbers of Amer-
cans, who of all the tourists seem to be the
best liked
The shops are crowded-with everything
except stocks. If the exchange falls few
thousand against the kronen, lines form to the
right outside of all the plate glass windows
and passage becomes difficult through the
streets- In the mean time purchasers who
have succeeded in making their way within
the shops discover that prices have Jumped
90 or 30 or so per cent over the prices of the
day before. If there is good sized drop in
the exchange, the shopkeepers are not too
modest to raise the price of their articles 100
per cent.
Every one is in fever to turn kronen into
goods, since the money seems to have mn Sam.