Tech: 
Außen 
High-grade 
joods typical 
for Austria 
Prices 
Ability to com- 
pete abroad 
No Dumpina 
nborn taste of the population which finds expression not only in the forms given to, and the 
inish bestowed on, objects of applied art properly speaking, but which lends a pleasing character 
;o articles of daily use, without diminishing their praetical usefulness, are further characteristics 
’»f Austrian manufacture. As in other cities, which for centuries were the theatre of the magnific- 
ance and splendour surrounding powerful courts and which were also the seat of many art-loving 
Jatrieian families (e. g. Paris, Florence), so in Vienna the luxury trades have developed particularly 
well. The artistic taste of the population, which has been referred to above, is the residue of the 
great historic past and is kept alive by far-famed collections and museums. The Vienna luxury and 
applied arts trade is not seeking expression, however, in traditional forms only. In view of the 
different culture zones, which have been intersecting in Austria, the Germanic and Romanic schools 
of art have come in close touch here with the sometimes more original artistic sense of younger 
nations and Vienna has been enabled thereby to develop forms of her own in the sphere of applied 
arts. Any person who has visited the Vienna Fair or a foreign fair where Austrian goods have 
been exhibited in sufficient numbers, is familiar with this fact. 
In regard to the prices of Austrian goods it is impossible to make a general statement in 
view of the large number of export articles, especially as the indices used by the statistical 
departments of the various states, in so far as these numbers refer to groups of goods, have 
not all been computed on identical prineiples and are therefore hardly comparable internationally. 
I£ Austrian wholesale trade indices for some classes of goods, which are of importance to inter- 
national trade, were compared with the respective indices of. other, states, nothing else would be 
Jlemenstrated. thereby, except the self-evident fact that Austrian wholesale prices follow, on the 
whole, the movement on the world market. The comparison, however, would not enable an inference 
to be drawn as to the absolute or even only as to the relative amount of prices. The large majority 
of Austrian export articles are, besides, finished products whose variety is very large and for 
which no indices can exist, of course, SO that the basis is lacking for.a comparison with foreign- 
made articles of the same kind. } 
This lack is not very severely felt. It is extremely improbable that a practical businessman 
will evince an interest in goods.from a certain country after having seen index figures only referring, 
as they always do, to a period which belongs to the past. If a price is acceptable or not is a 
Juestion to be decided in view of the quality which is offered and in this connection a favourable 
»pinion of the exporting capacity of Austria will generally prevail. It is not in contradiction 
therewith that the diminishing possibilities of exports to the Succession States are a frequent 
3ause of complaint in Austria. There is nothing unnatural in Austrian goods finding it diffieult to 
jump over customs barriers which were raised with the sole object of making the jump impossible. 
The question of prices should not. be discussed — and were it ever so suüperfieially — 
without reference being made of the fact that Austria is competing on foreign markets solely on 
the basis of her natural conditions of production, every kind of dumping being severely excluded. 
[t is important to mention this circumstance. Though the private interest of every buyer induces 
him to accept the lowest offer, other conditions being equal, irrespective of the causes to which 
‘he low price is due, work-givers and Labour in a collective sense are opposed everywhere to the 
Jumping competition of another country, as they see in it a danger to their existence. Their point 
of view is justified because any dumping, whether intentional or, in the case of a depreciating 
zurrency, unintentional, always resembles unfair competition. There is no dumping in 
Austria. The Austrian exchange has remained perfectly stable since October, 1922, and a 
tendeney to rise above the parity of exchange has even been noticeable since the schilling 
currency was introduced. This is strikingly shown by a table in which the monthly average 
quotations of some foreign (stable) currencies are compared with their parity of exchange in terms 
of the schilling. Amsterdam Berlin London Neaw York 
Parity of Exchange 28566 168°29 34°58 710°67 
Monchly Ava 
16828 34'391 
16838 34°38 
16867 34°39 
.68°58 34°37 
168:31 34'878, 
168:59 34:878/, 
168°20% 34:42 
168°2375 34'48% 
16851 34:49 
16846 834°52 
168:305 34'51 
16836 34°51 
168°57 34°'4925 
July 1926. 40 
August 1926 . 
September 1926 
October 1926 . 
November 1926 
December 1926 
January 1927 . 
February 1927 
March 1927 . 
April 1927... 
May 1927 . 
June 1927 
July. 1927 
Aa