Rock Island Argus. (Rock Island, Ill.) 1893-1920, 1915-08-02
ITALYs PROBLEMS IN THE PRESENT WAR

A review Of Italy's economic con
diton before the war suggests the ma
ture Of the problems confronting her
in the present and forms d com
mentary of interest 10 Americans
upon the happenings in the south
western war theatre. IN considering
Iraly's pre-war condition, it must be
remembered that Hungary,
her opponent, has been considered by
students of finances to be in a bad
way for years. The main difference
is that the dual monarchy is a land
rich in natural resources, while Italy
is poor in those things that go to make
up an industrial nation Austrians
have invested heavily in futures with
considerable optimism, while the Ital-
ians have faced the problem Of hew-
ing out a way Of progress by better
organization, better technique and by
territorial expansion. a brief sketch
OF Italian commerce, industry and
finances is given in a bulletin just
issued by the National Geographic
society, which follows:
Italy was just getting into the
struggle OF international trade com
petition in earnest at the outbreak Of
the European war. OF course, Italy's
history Of economic growth as a ma
tion is q matter Of barely so years,
most of which time has been time Of
slow preparation. Step by step, in
her northern states. an industry has
been built up, and its development has
been in spite of great odds; for Italy
is a land poor in natural resources,
sheltering millions of poor citizens,
yet supporting a large national debt
and an expensive government.
Modern Italy is more a land of art
traditions than of art itself It is a
material nation, absorbed in its prob
lens Of commercial and industrial
growth, of higher standards of life for
its people. and of more practical and
efficient organization. The Italian
people are industrious. on the whole
well educated, ingenious mechanics,
and possessed of the keenest ambi-
lions for themselves and their coun-
try.
ITALY is credited with total ma
tjonal wealth less than one-tenth as
great as that Of the United States,
while its population is equal to four
tenths of the population of this coun-
try, It had at the beginning Of the
war a public debt considerably larger
than ours, and this debt bore interest
ranging from 8 to 5 per cent. Part of
its heavy government expenses came
from the task of developing of the
seventh largest navy in the world, and
the maintenance in peace times of a
standing army of 100000. These ex-
penditures are now increased enor-
mously.
1T has been said that the stream
Of money that has flowed from the
sons and daughters OF Italy working
IN the United States has represented
The margin Of comfort to the masses
of demonstrating Italians. The annual
remittances from this country have
been well over 500, 900. or about
equal TO the yearly interest the gov
eminent has had to pay each year
upon the national debt The credit of
the Italian government is good, and
the burden of interest carried by her
people was greater than that of the
United States or of Germany before
the war The amount OF money
brought into Italy from the United
States has been equal TO one-ffth OF
the amount raised by the nation as
revenue from all sources, or more than
Of the gross amount received
by the nation from its total export
trade, With the exodus from America
Of Italian reservists, this outflow will
be greatly diminished at a time of
greatly increased expenditure
There has been a tremendous emf
grafton of labor from Italy during the /
past years of peace, Some of this was /
.ransitory emigration. Seasonal work |
ers came from Italy to the United |
States and to South American coun-