The sun. [volume] (New York [N.Y.]) 1833-1916, 1915-12-06
F. s. Nitti, Former Minister
Of Commerce, Tells Of
Opportunities.
CHANCES FOR BANKS
Post Bellum Demand for La
Dor Expected to Check
Emigration.
Specfai cor,espondence TO TIE srS.

ioTTlctiy WlHlsteV Ot AofnIncTCe a'u
Agriculture, professor OF law at che
University Of Naples. Member Of Par
lament and one Of Italy's prominent
economists. when asked for an inter-
view.
you very probably want to know
whether Italy will continue his war to
the bitter end" he continued. land
whether there Is any likelihood OF q
separate peace. A separate peace ID
absolutely impossible. You can say in
America that we shall hang on to the
very end along with the people: who are
hghting for their civil and political In
dependence. Ii ought to be known in
America that this war has been a
necessity for us and that II n end
otherwise than with q victory. Germany
aimed at European hesemony when In
August. 1914. she threw herself against
unarmed ard neutral people and attacked
France and Russia without ANY reason
and even without any pretext. what
would have happened II Germany had not
met with any resistance? And what
would nave been the situation In America
rad Germany become the mistress Of
Europe with ideas and instincts OF harsh
conquest ana domination?
W nov sSNOby -VGous
II am certain Of our victory owing to
moral and material reasons We repre-
sent the Spirit OF independence and
liberty against German oppression. On
our side are the most morally and politi-
cally progressive peoples. because prog
ress does not only consist in material
wealth but in the conQuests Of the spirit
and in no development OF the sentiment
Of liberty. Just think OF the horror Of
Europe l: Germany were to prevail. All
the forces OF the past, reaction and
brutality arc on Germany's side. Her
victory would mean the victory OF
France. italy and Belgium have been
the cradles Of liberty. New democracies
have sprung from us and live with our
ideas and our lives, Find me a single
democracy outside of Europe that sides
with Germany!
And what Is Austria? Ten nation
alit!es forced into a MO under the most
autocratic system In modern civilization.
And Turkey? A country OF massacres
and violence in the hands OF a gang Of
murderers. the Young Turks. And what
are Germany's assets after fifteen
months of war? she has sacrificed two
small peoples. morally two great peoples.
the Bslg!ans and the S~erbians. and she
still holds the territory she occupied by
surprise. On the sea Germany could
not wage war except with submarines
insidiously. The Germans have shown
their cruelty in Belgium. The Turks,
wiser disciples in cruelty. again started
10 destroy the Armcnians
"Germany's victory. would II
mean? Europe would rave to submit to
the Teu,onic feudal miiitarism.
tionary Austria would Increase In terri
tory and pow er. Turkey, mistress OF the
East. would set up in Asia and In Africa
the old Moslem ferocity that the Anglo
saxon race ~vanquished. And then your
turn will come A democratic civiliza-
ton like that OF the United States Is In
compat BILE with q predominant German
spirit.
Sea Mastery Already Won.
Fortunately This IL only a dream.
| Germany will inevitably be defeated.
We must win also owing TO material real
! sons. The war is fought on land and
sea. On sea IL has already been won
by the Q%uadruple Entente. On land
t;,rmary had some notable successes on
the eastern and southeastern fronts. but
such successes are a sign or her weak
ness. TT. more she wldens her front the
greater her weakness. l mini that IL is
premature to make any forecasts. but IN
a year the situation OF VIII be
Mos serious ~ tllN W. ~ Wv
Allies TO insure victory Is TO set aside
ANY idea OF peace AID organize for 4
very long war.
Italy will stick 10 her post without
any weakness. | am not aware OF the
military reasons that prevented Italy
from sending troops to far distant fRht-
ing centres what Is certain Is that
Italy is now fighting on Austrian terri
tory and that the main effort OF the
LII - ,.f,a Isnlt. n = Snnp no
their Balkan enterprise allows them, II
IS well tina, Italy should be In n position
TO VIGOROUSLY resist any onslaught.
There il no doubt of our power OF re-
sistlnce. Italy is animated not only
with enthusiasm but with a conviction
n victory. The soldiers are admirably
doing their duty. Not only do the re-
serv!s,s rush to the colors willingly. hut
many VINO are exempted from military
service beg to he allowed 10 go TO the
front"
When asked about the effects OF the
war In Italy. Signor Nitti replied
"Of course the war Is painful All
who are at wal suffer. some give UP
their lives, others their wealth. Ger
many suffers more than us. and nobody
can deny that war demands great sacri-
fees. Still the economic damage OF the
war IS often exaggerated. Only
the armies destroy is actually lost. In
Belgium. East Prussia, Poland. Gal'cia,
northeastern France and In the balkans
wealth has been destroyed, Factories.
fields and Inhabited areas rave ceased
10 exist. but where there has not been
an invasion OF the enemy, social capi-
tai has remained untouched and pro-
duct,on has neither ceased nor dimin-
ished,
Economy In Italy.
"Resldes, in time OF war consumption
d,minishes. All try to consume less and
n great deal Of wealth is economical
that otherwise would have been con-
sumed. Never have Italian banks had
the amount Of money deposited they
have now. Italians are saving money.
hut they hesitate to Invest IN new en-
terprlses and as a result production
suffers. The Internal conditions OF Italy
are however. good despite n bad harvest.
which has caused more damage than
the war. II Is true that Italy has not
got the economic resources OF England
and France, but then the war costs less
in Italy than In other countries, because
the Italian soldier il frugal: and then
the war IL being tough. beyond our
frontiers, but not far away Perhaps
IL is owing to the fact that the war
will last long hat Italy has not car
ried the war into other countries"
and what will happen after the war?
What commercial rcgroupings will take
Mace and how will Italian emigration
be influenced" Signor Nitti was asked.
'"There will be a great change after
the war; he answered. There are at
least ten States that will have no com