The Archive · 1938

Budapest Is Panic

STRICKEN Populace Withdraw Their Deposits from Banks

Budapest, Mar. 12.

Quotations on the stock market dropped by about ton per cent. today because of Austrian events, while the panic-stricken populace Jwithdrew deposits amounting to several million pengoes from the banks.

Authorized circles declared that the Jpanie was unjustified. They are convinced that the Germans wish only {to establish their influence over the [Germans abroad, and are not con-jeered with the Hungarians, The German minority in Hungary Jamounts to 000,000 persons, but the problem of the German minority was ures dented that any military measures had been taken along the Austro-Hungarian borders. [They stressed that, panic was wholly Junjustifed since Germany and Hungary are bound by a treaty of friendship and that relations between the two countries have been exc

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