The action of the Vienna branch of the Rothschild house in saving from bankruptcy one of the leading Austrian credit institutions which was formerly the Imperial Court Bank, is praised highly in the Austrian press as an act of high patriotism coupled with business caution.
The bank, which specialized in land credit, was beset by difficulties and the new Prime Minister, Schober, appealed urgently to Louis Rothschild who was away on a hunting trip to return and see what he could do to save Austria’s credit abroad. Mr. Rothschild complied with the Prime Minister’s request and confidence was restored when the government issued a communique stating that the Rothschild house is lending its support to the credit institution and that the depositors at home and abroad are guaranteed payment.
It is stated that the Rothschilds are carrying through this transaction with the cooperation of their American business friends.
The laborite press took the occasion to attack the anti-Semitic government parties and in particular the Christlich-Soziale party which “had to call on a Jewish banker to save Austria.”
“Rothschild saved Austria” or “Schober and Rothschild saved Austria” is the note running through the Austrian press, including even the “Arbeiterzeitung.” It is pointed out that Rothschild’s action prevented the collapse of the second largest bank in Austria which would have inevitably ruined many important industries causing the unemployment of tens of thousands of workers. This is openly admitted by the Hakenkreuz press which, however carried simultaneously appeals for anti-Semitic meetings against “the Jewish capitalists and swindlers.”
The Archive of the Jewish Telegraphic Agency includes articles published from 1923 to 2008. Archive stories reflect the journalistic standards and practices of the time they were published.
