AUSTRIA: Schillings

The schilling was adopted in Austria as a new unit of currency. The old crown became exchangeable at 10,000 to one schilling.†

Notes and coins are to be circulated within three months. The first bank notes will be in denominations of 100 schillings, replacing the 1,000,000 crown notes now in circulation.

At first, confusion between the two currencies is bound to occur, as prices are now quoted in schillings ; but as time goes on the disorder will give way to greater convenience and order than now obtained. In general, the change is hailed with enthusiasm.

†On the basis of paper quotations...

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