VII
THE WARNING OF AUSTRIA

I

THE new Republic of Austria created by the Treaty of Versailles--that is to say, by certain elderly diplomats sitting round a table and rearranging the map of the world without much knowledge of the human hopes and agonies involved in their decisions--became a tragic object lesson of all that was most miserable, hopeless, and diseased in the malady of Europe after the war. All the economic evils that afflicted such a country as Italy and threatened many other countries like France and Germany, and to some extent England, reached their fullest development in Austria.

Other countries were overburdened by war debts, weakened by the decreasing production of labor, and poverty-stricken by the inflation of money, which was turned out easily enough from the printing presses but had not reality enough to buy raw material or the elementary necessities of life from more prosperous parts of the world, so that the value of this paper money dropped low in foreign exchanges, while prices soared to fantastic heights and wages struggled to keep pace with them--and failed. Even England was touched by that disease--England which was envied by all her neighbors as rich and fat in her prosperity--and France and Italy were seriously sick of the same economic malady. But Austria was more than sick-- Austria was dying.

-244-

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  • Title Page *
  • Contents *
  • I- Leaders of the Old Tradition 1
  • II- Ideals of the Humanists 50
  • III- The Need of the Spirit 83
  • IV- The New Germany 127
  • V- The Price of Victory in France 175
  • VII- The Warning of Austria 244
  • IX- The United States and World Peace 339
  • X- The Chance of Youth 370
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