Foreign News: AUSTRIA

Owing to the increase of taxation and the reduction in the cost of administration a net saving in the budget has been effected of 2,350,000,000,000 crowns ($33,000,000). As result of these economies the exchange has improved from about 75,000 to 71,500 crowns to the dollar. The Reparations Commission has agreed to assist the country's rehabilitation by waiving for 20 years all rights to Austrian revenues under the Treaty of St. Germain.


Want the full story?

Subscribe Now


Get TIME the way you want it

  • One Week Digital Pass — $4.99
  • Monthly Pay-As-You-Go DIGITAL ACCESS$2.99
  • One Year ALL ACCESSJust $30!   Best Deal!
    Print Magazine + Digital Edition + Subscriber-only Content on

Learn more about the benefits of being a TIME subscriber

If you are already a subscriber sign up — registration is free!