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Show . iUuc3l i "It Is by Hope That Nations Live and It Is of ; Despair That They Die" By DR. ZIMMERMAN, in New York Times. Austria can be and is being maJe self-upj)orting by the intensification intensifica-tion of her agriculture and the development of her water power to take the place of coal. Great projects for water-power development are already under way. The first stretch of railroad run by electricity will be opened this fall. The government monopolies of tobacco and salt both show a profit. The railroads are run at a loss, but are being reorganized ; they will still belong to the state, but with the advantages and economy of private direction. Austria's stabilized exchange, the only stabilized currency in Euioi cast of Holland, and the fact that she is being run on a business basis, is bringing in investors. The savings banks deposits show that for the first time in years the people are beginning to save. XoboJy could save or invest while the crown that was worth a cent one day might be worth the seventieth of a cent the next. For six months now the crown has been worth about 70,000 to the dollar. It will not fall and it must rise very gradually. What you see in this country today is not so much recovery at the hope of recovery. And it is by hope that nations live, and of depp.!f th&t they die. |
