Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1915-06-02
IMMIGRANTS FIGHTING ITALY'S WAR
How the Italians in This Country Are Furnishing the Snews
of War in the Millions of Dollars Which They
Send Home Every Year.
By ADALBERTo CAPoRALE

THE Italians residing in this country are
i financing, at least for good percentage,
the war which Italy Is now waging against
Austria for the recovery of the "Unredeemed
Lands" The immigrants will simply loan
to the Italian Government the money they
have deposited in the savings banks of Italy
and especially in the postal savings banks,
because the Government will in this way
invest their savings, which, 1t Is fair to
say, will not be in danger Of being lost by
those who have toiled hard to send them to
their country.
Let us see from statistics furnished
mainly by the Italian Government, the
truth of our statement. Emigration is
one of the most conspicuous assets of Italy.
The host of toilers that every year leave the
home shores to cross the Atlantic are respon-
slble for the making up of one-half of the
s24O,o0O0OO deficit that there is in the italian
economical budget; that is, the difference be-
tween importations and expectations.
Emigration as an Asset
During the year 1906, which was the record
year for italian emigration, 7SS,OOO persons
left Italy to seek better conditions of living
and better wages abroad, and nearly 100000
of them crossed the Atlantic and landed in
the United States, Canada or South America.
1t is believed that there are now in the
United States not fewer than 100000 per-
sons of Italian birth of parentage, though the
official figures are below 100000. These i'm
migrants or native Italian American citizens
are distributed in every State of the Union,
but mainly in the States of New York and
Pennsylvania, in some of the Middle West
and on the Pacific coast,
According to the estimate made by Prof
Luigi Rossi, ex-Commissioner General of
Emigration in Italy, the Italian emigrants
send every year to their mother country not
less than 100000, the bulk, perhaps $780,
100000 according to figures recently pub
lshed in this country, being sent from the
United States. A more recent inquiry made
by the Banca dItalia, which is the greatest
financial institution in Italy and is under the
control OF the Government, shows that Pro-
fessor Rossis estimate was correct.
According to Rossls report. the money sent
home by the Italian emigrants is invested
in the payment of small debts. in the savings
banks or other financial institutions in the
small trade, and in the purchase OF small
houses and small farms. But the influence
of the savings OF the emigrants Is mani
fold The deposits made in the postal saw
ings banks go to swell the funds of the Casa
Depositi Prestid, that loans TO cities
and small communities are made possible.
The money sent home by the emisrants con-
tributes TO the reduction OF the interest rates,
and. In fact, has made possible the CONVEX
sion Of several hundreds OF millions OF Gov
ernment bonds from to sh per cent. bonds.
It has made possible the return home OF an
enormous amount of Government bonds
which was in the hands Of foreign investors,
and. as we have already stated. goes to make
up one-half OF the difference between inn
portations and expectations.
Statistics published in the latter part OF
1918 show that in September OF that year the
postal savings banks of Italy were holding
deposits TO the amount OF S4O3 900 900, while
$50 O0O 900 was deposited in private savings
banks and s27s.OOc.0OO in other financial in
stitutions OF the country. These figures
show then total OF sl.1ss 900 deposited
in the various savings institutions Of Italy,
not including the money invested in com
mercial or industrial enterprises.
Millions Upon Millions
We have not available statistics TO show
exactly what portion OF this huge total be-
longs to emigrants. and more diheult Il
would be to discover the percentage belong
ing TO Italians residing In this country or
those who have made their money while
working in the United States. The only
available figures in this respect are In fact,
those published BY the Banea d Napon. an
other big financial institution controlled by
the Italian Government ana taking charge
Of good percentage OF the money sent 10
Italy By her emigrants These figures, which
refer only 10 the Banea d Napoli ana there
fore. are necessarily Incomplete. ahow that