The daily telegram. [volume] (Clarksburg, W. Va.) 1901-1926, 1915-08-02
But the People Are Industrious
and Economical and Not So
Bad Off after All.

WASHINGTON. Aug. "a re-
view OF Italy's economic condition
before the war suggests the nature
of the problems confronting her in
the present and forms comment
the happenings in the southwestern
war theater In considering ltaly's
pre-war condition, 1t must be re-
membered that Austra-Hung gary, 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
problem OF hewing out way OF
progress by better organization, bet
ter technique and by territorial ex-
pansion 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 nation is a matter of barely fifty
years, most OF which time has been
time of slow preparation. Step by
step. nher northern states, an in
drstry has been built up, and its
development has been in spite or
great odds. for Italy is land poor
in natural resources, shelterine mil
lions of poor citizens, yet supporting
"a large national debt and an ex-
pensive government.
1 Land of Art Traditions.
Modern Italy is more land of
4 art traditions than of art itself. 1t
/ is a terial nation. absorbed in its
| problems of commercial and indus
4 trial growth, OF higher standards OF
life for its people, and of more prac-
teal and efficient organization. The
Italian people are industrious, on
the whole well educated. ingenious
mechanics. and possessed Of the
| keenest ambitions for themselves
and their country.
Italy is credited with total
national 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 1t had at the beginning of the
war. a public debt considerably lar
gel than ours and this debt bore
/ interest ranging from three to five
per cent. Part of its heavy gov
eminent expenses came from the
/ task of developing of the seventh
| largest navy in the world. and the
maintenance In peace times OF
standing army of 100000. These ex-
penditures are now increased enor-
mously.
Streams of American Money.
| TT has been said that the stream
of money that has flowed from the
sons and daughters OF Italy workin
in the United States has represented
the margin of comfort to the masses
Of demonstrating Italians. The an
nual remittances from this country
have been we'll over 500, 100000 or
about equal to the yearly interest
the government has had to pay each
year upon the whole national debt.
The credit of the Italian govern
ment is good, and the burden OF In
terest 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-fifth of the amount
raised by the nation as revenue from
all sources. or more than one-half
o: the gross amount received by the
milton from its total export trade.
With the exodus from America OF
Italian reservists, this outflow will
be greatly diminished at time OF
great increased expenditure.
There has been tremendous
emigration of labor from Italy dur
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