Evening star., 1924-06-15
PRIEST, CLINGINC TO CELL,
HAS RESCUED AUSTRIA
Chancellor Seipel Attributes Nation,
Recovery to Control by
Middle Classes.

are made mp of professors and doe
tors and lawyers and artists and
writer's and opera singers, who some
how or other clung to their work and,
most marvelously of all, to theis
sense of right and wrong Theg
knew the futility of revolution.
Even with their stomachs empty
they remembered it's futility. 1t IL
them that we have to thank for our
political stability
Have these artists and profess
sional people been able to restore
Vienna's old cultural leadership in
central Europe?"
Yes" replied the chancellor, look
ing over the horn-rimmed spectacles
which perched quizzically upon his
large Roman nose, II suppose you
recall that only two years ago Vienna
was known as dead city Today
it is one of my greatest satisfactions
to be able to see Vienna a city full
of life, magnificent in its contribu-
tion to every field of human culture.
The sciences-especially our old med
ical school-are beginning to flourish,
in spite of their restricted resources.
Students from all over the east and
southeast are coming to study here
in larger numbers than ever before.
In the arts, music in particular, we
have reached our former position, if
not passed it. Our musicians are in
vited everywhere, and at this mo-
ment negotiations are in progress
concerning a season in London for a
part of our operate company. Finally.
our picture galleries! All. You do not
know how many treasures Of beauty,
collected during the centuries, are
cherished in our museums"
Austria's Present Needs.
What remains Austria's most es-
sential need in her present work OF
reconstruction? 1 asked.
Additional loans of foreign capj-
tai and free natural trade with our
neighbors." was his careful reply.
During the negotiations in Geneva,
out of which arose the Austrian re-
construction loan, the league experts
decided that we could not be perma-
nently reconstructed by the mere
grant of an international loan. They
expressly pointed out that stimuli
taneously with the restoration OF
state finances there must take place
a re-establishment of our industrial
system. This same necessity was
pointed out by several speakers in
the French Chamber before the rati-
fication of the Geneva convention.
Now, in order that our industry
may become completely sound and
normal we must have, first of all,
foreign capital. We need capital to
replace the machinery which has be-
come out of date or has rusted away
in our factories. We need ii to de-
velop our water power and thereby
render us Independent Of expensive
coal supplies which we now import.
Finally, we require foreign capital
to restock our farms, fertilize our
crops and bring back our rundown
agriculture to pre-war standards.
by strengthening our industries
DR.. Seipel went on rapidly, 1--WE
should be able to create fresh capital
in the country. Provided. of course,
that one other factor is favorable.
And that is our second important
requirement-freer trade and a nor
NAL exchange of goods, especially
with our neighbors whose territory.
economic unit until the treaty of St.
Germain shattered its unity with a
multiplicity of new frontiers.
Capital Coming In.
Since the stabilization of the
krone-that is, since the league Of
nations loan-an influx of capital
to Austria has in fact begun. We
look, however, for its vigorous con-
tinuation, and we are convinced that
foreign capital in our country can
do business just as safely as it is
profitable-and we wish it. Our com
merce has improved and the most
serious restrictions at the new from
tiers have ceased, partly through our
indefatigable initiative. But even in
this field much still remains to be
done. 1 hope that in the future every
American dollar invested in central
Europe will be accompanied by the
exhortation: Make trade free from
every restriction and promote your
own welfare by eliminating political
distrust and commercial jealousy
from your dealings with your neigh
bors.'"
Does Austria still desire union
with Germany" was my final ques-
ton.
Our relations with Germany" re-
piled the chancellor. "are determined
only by a single overwhelming feel
ing. We have the deepest sympathy
for the misfortune of our great sister
people and we are endeavoring, ac-
cording to our weak powers, to afford
help to the needy. The majority of
Austrians take full account, however.
of the fact that if we had accom-
plished our union with Germany
few years ago it! would have been
blessing neither for us nor for Ger
many"