Saturday, May. 12, 1923
Seeks Loan
Count Bethlen, Hungarian Premier, arrived in Paris. His object in visiting France's capital is to place a proposal before the Reparations Commission whereby the finances of Hungary will be put on a similar footing to those of Austria,
It is understood that Count Bethlen, who is accompanied by the Finance Minister, M. Kallaw, will ask the Reparations Commission to suspend all claim to Hungary's income in order to enable her to float foreign loans. It is proposed to issue two loans: one of 50,000,000 gold crowns ($10,130,000) to enable the Treasury to meet immediate expenses and diminish the issue of paper currency; the other of about 500,000,000 to 600,000,000 ($101,300,000 to $121,560,000) gold crowns for the purpose of balancing the budget and stabilizing the exchange.