Außenpolitische Dokumente der Republik Österreich 1918 bis 1938 (ADÖ) Band 5: Unter der Finanzkontrolle des Völkerbundes 7. Dezember 1922 bis 15. Juni 1926

Contribution to Publishing Costs D 3161 ADÖ, Bd. 5 Klaus KOCH, Walter RAUSCHER, Arnold SUPPAN 29.11.1999 The first years after the signing of the Genova Protocols were predominated by the reconstrucion of the economy of the Austrian state. The efforts of Ignaz Seipel for the economical restoration and his "Politik der Freundschaft nach allen Seiten" led different members of the Austrian governments to state visits in Budapest, Paris, London, Belgrade, Rome, Warsaw, Bucharest, Geneva, Bern and Berlin; whereas Vienna was also visited by numerous important politicians from abroad. The results of this "travel diplomacy" could be regarded merely as moderate. This policy mainly served for arbitrition agreements and trade treaties; but because of the protectionism of the neighbouring countries it brought nearly no decisive results for Austria. Seipel`s successor, Rudolf Ramek, a MP from Salzburg, finally was to act as federal chancellor from 20 November 1924 till 20 October 1926. After the restoration of the Austrian budget and currency the Viennese government set about a trade policy on the basis of free trade treaties. There were no measures of protectionism till the Great Depression at all. Until 1929 the Austrian economy on the one hand was interested in cheap import of food, combustible and raw material and on the other hand in the easier export of industrial goods and the subsidising of Vienna as a centre of trade. According to the miserable situation caused by the increasing problem of unemployment the prohibitive economic policy of the neighbouring countries the League Of Nations examined if the economic restoration of Austria could be seen as finished. Thus the report of the League of Nations from September 1925 regarded Austria as capable of living. At the same time it stressed the fact that Austria has to suffer from the problems of the new order in Central Europe. That is why it proposed Austria`s admission to a larger economic system. As a consequence the League of Nations guaranteed still during the same month that general commissioner Zimmermann will limit his fiscal supervising mission starting with 1926 as a first step and as a second step will terminate his entire duty in Vienna after the approbation of the national budget and the closing of accounts for 1925. On 9 June 1926 the League Of Nations accepted Austria`s financial situation to be stable and according to this Zimmermann was called away with the end of the month. Therewith Austria`s fiscal restoration was concluded by 30 June 1926. But unfortunately the Parisian post war order was questioned by the European economic crisis and the inability and the lack of cooperation of the successor states of the old Habsburg monarchy. The country most concerned was Austria.