Arizona republican., 1916-12-21

WORRIED
 BECAUSE MONEY
 |SDEPREC|AT|NC
[Republlcan A. p. Leased wirel


 ROME, Dec. 20.-The big commercial and financial problem now disturbing Italy Is the depreciation of her money in foreign markets. Notwithstanding the success of her armies and the con fidence at home and abroad that her territory cannot be invaded, the lire ,19.3 cents) has continued to drop fin value ever since Italy entered the war.
 At the beginning of the war an American dollar was worth five lire fifteen centimes. During the present year this dollar in Italy has had an average value of six lire fifty ccntimes. This same general depreciation applies -o every country in Europe.
 The lire. before the war quoted at par with the French franc, has lost 10 o l5 per cent of its purchasing power there. In other words. during the present. year 1t has taken an average of ll2 lire to buy loo French francs. Ihe lowest average value of the lire on he Paris BouTse since 1871. When the present Italian government had just firmly established itself by the taking of Rome.
 In calling attention to these facts, Italie. Of Rome, points out that the lire In Switzerland loses 2S per cent of Us value and is worth no more in propor- ton than the German mark. whereas the Spanish dollar og five pesetaa than the 5-lire or G91D- -wwar piece. having less actual silver in it than the 5-lire or 5-franc piece. is now worth in Paris francs
 The Popolo Romano in recent dis cussiOn of the situation stated that the general reason for the depreciation oI he lire was the excess Of purchases la s,ft Il an excess which it estimates for ihe year 1916 as $333. .O0G.00o This excess Is due to war supplies bought abroad to the destruction Of the tourist trade of peace times. and to the necessity of keeping at home articles of food or clothing formerly exported
 In practice this excess means tha, If an Italian merchant imports q quantity of American shoes at Sf each. ne must nay an exchange rate that makes each pair really cost him Sa.21. The po3olo romano states that unless some solution l. found to the problem. he country will after the war. face disaster and will not then be in any better position 10 increase the e1- change value of it's money than now II predicts that all the available noneys and bonds will be drained out of Italy by this species of war lax. It urges an arbitrary fixing among the allies Of an exchange standard until after the war IL states that the final solution of the problem lies in domestic economy the limiting of imports and. immediately after the war. the increase of Italian industrial exports tO the orient
 Temporary measures adopted re- gently by the government are tend- Ing to force economy in the consump- tion Of all articles that must be purchased in foreign countries. IL has placed an arbitrary price of 50 cents the two pounds on sugar. which is regarded as a luxury in Italy. has taken charge of an beet sugar fac tories in Italy and of all sugar i'm ported and has so limited the supply that even at this price sugar cannot ie purchased in more than two pound lots. Each week a certain mum per 1f carloads or sugar is assigned 10 each large city and when this supply Is distributed. sugar cannot he had for any rnOneN
 The government has also so limited the imports of coal that coal is now -etailed at S60 the ton and the greater part of the population will be unable to use ii at all this winter. While meats. particularly mutton may be loind on the market at 70 to 60 cents pound. n recent decree has forbid den the sale on Thursdays and Fri- days of each week. Another decree provides for the closing of stores at s.@0 at night and the dmming Of street lamps at 10:30
 the lire continues it's reprecia- ton in value. other national economies may be forced upon the people O. italy this winter.