The news that equality for Jews was made a condition to Austria by London bankers before granting a loan to the Austrian government must not be misunderstood by Jews as a purely pro-Jewish act.
It is a well-known fact that anti-Semitism goes hand in hand with depression and economic anarchy. In a country where the economic machine is functioning normally there is no anti-Semitism. At least not in the government circles.
When the London bankers, before granting a loan, demand equal rights for the Jews in Austria it means that they wish first of all to be certain that their investments are safe. A government which cannot control the anti-Semitic forces in its own country is definitely weak.
A similar case occurred a few years ago when the Rumanian government negotiated for a loan in Paris. It did not obtain this loan, because at that time wild anti-Semitic events took place in different parts of Rumania and were not checked by the government. The Paris bankers took the attitude that since the Rumanian authorities were too weak to withstand the anti-Semitic forces they could not be trusted with a loan.
One of the secrets as to why the Nazi government in Germany is not discriminating against Jews in commerce lies in the fact that it does not wish anarchy in Germany’s economic system. It does not wish to undermine the economic machinery within the country nor its credit abroad.
This should perhaps also be realized by such countries as Austria and Poland, where Jews are discriminated against in commerce. It is only natural that a country whose economic system is dominated by anti-Jewish bias should not win the confidence of financial circles abroad.
The condition now put in London to the Austrian government that before obtaining a loan it must treat the Jews equally is not motivated by any fight for Jewish rights, but by the mere desire for a feeling of safety. The London bankers wish to be sure that the Austrian government will not face economic chaos and will not be dominated by elements whom public opinion abroad does not consider sufficiently responsible.
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.
