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.


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