Americus times-recorder. [volume] (Americus, Ga.) 1891-current, 1915-08-06

interest to Americans upon the hap
pening in the southwestern war the
alter. In considering Italy's pre-wal
condition, it must be remembered tha
Austria-Hungary, her opponent, has
been considered by students of finances
to be in bad way for years. The main
difference is that the Dual Monarchy
is 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 Italians have faced the
problems of hewing out a way of pro-
gress 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 compe-
titfon in earnest at the outbreak of
the European war Of course, Itaiy's
history of economic growth as nation
is 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, shelf
! ering millions of poor citizens, yet
supporting a large national debt and
an expensive government.
Modern italy is more land of art
traditions than of art itself. 1t is a
material nation, absorbed in it's prob
lens of commercial and industrial
growth of higher standards of life for
it's 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 country.
Italy is credited with a total ma
tional wealth less than one-tenth as
great as that of the United States,
while, it's napulation is equal to four
tenths of the population of this coun-
try. 1t had at the beginning of the
war. a public debt considerably larger
than ours and this debt bore interest
ranging from three to five per cent.
Part of it's heavy government expenses
came from the task of developing OIL
the seventh largest navy in the world,
and the maintenance in peace times off
a standing army of 100000. These
expenditures are now increased enoC-
mously,
at has been said that the stream of
money that has flowed from the sous,
and. daughters of Italy working in the
United States has represented toe
margin Of comfort to the masses Of
home-staying Italians The annual
remiHances from this country have
been. we'll over $190,OO0,00O, about
equal to the yearly interest the gov
eminent has had to pay each yearu pon
the. whole national debt. The oradft
of the Italian government is good and
tho. burden of intanest carried BIZ her
people was greater than that AZ the
United States, or of Germany before
the war. The amount of money
brought into Italy from the United
States has basa equal to, Qae-hfth Of
the amount raised by the nation as
revenue frem all sources, OF more than
one-half Of the gross amount received
by the nation from it's total export
trade. With the exodus from America
of Italian reseryists, this outflow will
be greatly diminished at a time OF
greatly Increased expenditure.
'There has been tremendous emigra-
ton of labor from Italy during the
past years Of peace Some of this was
transitory emigration seasonal work
ers came from Italy to the United
! States and TO South American coun-
\ tries. and returned with their savings.
Most of the emigration has been per-
manent, however. 1t has all been