20 JANUARY 1917, Page 2

A propos of our remarks last week and the attitude

we took up in regard to Austrian possibilities, there comes a curious rumour vid Switzerland that the Austrian Emperor and the Imperial family generally have been transferring large sums in securities as well as jewels into the custody of banks in neutral countries. It is stated that the Austrian newspapers have commented freely upon such action, and that a bad impression has been created in Berlin. We should not be surprised if the story were true, though of course it in certain to be denied officially. Nor indeed, in the peculiar drew*. stances, could we attach any blame to the Emperor Charles. Tied as he is to the chariot of the Hohenzollern, a chariot with the spokes out of one of its wheels and with the axle of the other in a very weak condition, we are not surprised that he should fear a total breakdown and desire to take precautions to save something from the wreck. If he had made the war and run the war there would no doubt be something very base in an effort to save his own skin. But though it could be said to be the war of his predecessor, it certainly cannot be said to be the war of the present head of the House of Hapsburg. He is indeed a tragic as well as a youthful

figure. He has got to fight in a cause in which probably be does not believe, and under a dominance which must be hateful to the proud spirit of his House.