Page - 574 - in THE FIRST WORLD WAR - and the End of the Habsburg Monarchy, 1914 – 1918

574 How is a War Financed ? this reason, too, the picture that thus emerges is clear and confusing at the same time. One has the impression that it was precisely those sections of the upper aristocracy who with their agricultural goods, industrial investments and other interests were not among those whose livelihood was at stake when they subscribed to bonds, and were more or less automatically classified as belonging to the group of people who identified with the Crown and the Empire, who were frequently not foremost among those who linked the continued existence of the Empire to the ups and downs of their businesses and establishments. More pointedly : for those running small businesses, small Jewish firewood or animal feed suppliers, Bosnian victuals traders and not least their employ- ees and workers, it was in most cases a matter of course that they would combine their services to their ruler and fatherland with very personal contributions and give up their savings and at least tie them up for the long term. Perhaps they lacked sufficient foresight, succumbed to the temptation of the high interest rate, and ultimately the manifold pressure from society and from the authorities. At any rate, the conclusion was that it was not least due to the money transactions during the war and the financial debacle following the disintegration of the Habsburg Monarchy that the differences between social classes were dramatically intensified. And if in the new Austria the lenders were unable to redeem their war bonds by 15 May 1919, then they at best had a memento of the lost war in their hands in the form of bond documents and coupons that had become worthless. Every war bond was accompanied by extensive advertising. It was also made par- ticularly easy to purchase subscriptions, which could be made at banks, savings banks, finance authorities and, above all, post offices. In some cases, the post offices were open until 9 p.m., and on Saturdays, Sundays and public holidays. The Anglo-Austrian Bank erected thousands of collection points in schools. The military commands granted a two-day holiday in order to give soldiers the opportunity of subscribing to war bonds. Occasionally, it is likely that regular holidays were granted only after the applicant had carried out their ‘patriotic duty’,1336 and people were almost forced ‘to extrude one or two kronen from each individual ; and the people, who are anyway subdued as a result of the rough treatment by the officers, give willingly, if only to be left in peace again.’1337 Separate subscription officers conducted advertising, accepted applications and took money. For soldiers, the deadlines for subscription were more or less extended as re- quired.1338 The governors directed thousands of personal letters to members of the up- per classes. The chairmen of consortia were summoned, and if the bond subscriptions of the members of the consortium failed to meet expectations, official records were even made. Occasionally, specifications were issued to the municipal authorities  – as was the case with the fifth war bond in November 1916  – as to the sums to be subscribed. Before then, in other words, until the fourth war bond, the total amounts subscribed by the municipal authorities were for example as follows :