The question of the scale of Hungarian payment is to
come before the Reparations Commission almost immediately. It seems that our rejoicings over the rehabilitation of Austria must now give place to be- moanings over the plight which, according to the series of articles in the Times, is rapidly overtaking Hungary. This is the more regrettable in that, up to now, in spite- of defeat, dismemberment, and revolution, Hungary has managed to avoid the extreme evils - which precipitated the collapse of both Austria and Germany. She has been enabled to do so partly by the productive capacity still left to her in her wheatfields and pasture lands, and partly by the Government's avoidance of inflation, by the restriction of imports in order to lighten the trade balance and of food exports to keep the internal prices down. But, in consequence, the whole trade of the country has been tied up. With a growing lack of confidence in herself, a big deficit, and now the fear of the exaction of Reparation payments, Hungary is on the brink of collapse. We feel that the Western Allies should do all in their power to induce the Secession States to moderate their claims upon her. At the same time, it must be said on their behalf that they renounced their claims upon Germany solely on the understanding that they would be indemnified by Austria and Hungary. The burden now falls entirely upon the shoulders of Hungary. But, admittedly, the consent of the Secession States must be obtained before any concessions can be considered, and these concessions will not be granted unless Hungary on her part unre- servedly accepts the territorial settlement of the Treaty of Trianon.
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