24 FEBRUARY 1923, Page 3

The Reparations Commission has released from the " first charge

" of reparations certain items of the Austrian Budget, which we trust means that it is co- operating with the League of Nations' Committee of Control in the great work of saving Austria. That splendidly energetic man, Dr. Seipel, is in Belgrade trying to negotiate a commercial treaty with Jugo- Slavia. If only the States of the Danube basin could agree to some sort of a Zollverein, there is absolutely no reason why prosperity should not return to them.