Evening star., 1917-11-25
mercial Future of Italy Hangs i'm the Balance

been heard Of tho workings of this
subordinated to military necessities,
but 1t Is in existence and Is declared to
be ready for business after the war.
Discussion Of the relative financial in
Italy reverts somewhat to the scope
OF the industrial enterprises that may
be fomented. az well as to the markets
Of the country.
italy lacks the raw material Of basic
industries. which are comprised in the
category Of iron ore, coal and copper
Industrial coal is an expensive propo-
sition. Before the war the bulk of 1t
was imported from England, although
the United States. which was sending
coal for the state railways and for
the navy. also was beginning to supply
some Of the industrial plants. With
coal having to be imported, and with
no iron ore. the limited possibility for
Notwithstanding the lack of ex-
tensive copper deposits, Italy had de-
veloped an important electrical indus
try. Its products found a market in
Europe as well as in South America.
The Importation of copper from some
of the overseas countries. including the
United States. formed one of the ele-
ments of Italy's foreign commerce.
The textile industries were well de-
veioped. Italy used a part of her raw
She also developed a very successful
cotton industry Some of the raw cot
ton was imported from the coarse fiber
OF India, some from the fine Egyptian
of the United States.
Italy's imports consisted of vari-
Gus foodstuffs and of miscellaneous
articles. in addition to primary raw
materials. such as copper and coal.
Though some wheat Of a high quality
is raised in Italy. it is far from being
sufficient to supply the entire popula-
ton. Large quantities have to be i'm
ported. In normal years this came
from Rumania and Russia, from the
Argentine Republic and from the
United States.
The Italian merchant marine was eX-
tensive enough to serve as cargo car
riers for these imported food products.
as well as for the distribution of the
tropical agricultural products which
were exported, although the shipments
were not confined to vessels under
italian flags since England. Germany
and France shared in the traffic.
The silk crop was one OF the most
important of Italy's export crops. as
well as of domestic utility. The olive
crop was largely exported in the form
Of olive oil. The citrus fruits found
a market in the United States and in
European countries. Last years silk
crop and lemon crop. it was understood.
were financed by the British govern
ment. possibly with some help from
the United States. In order to keep
them from falling into the hands of
the Germans
During the period when Gen. Cadorna
was making his advances into Austrian
territory and the possibility Of Ger
man invasion was remote, Italian
h,rc cd al
mulating a commercial policy which
was in consonance with the greater
italy" of which they dreamed. They
planned for Italy to become CONNER
cial power, which would place her on a
plane with other countries of Europe.
1t was assumed that trade relations
with the Levant. where there are large
Italian colonies. would become much
would be the center of Italian trade in
the near east. Their plans also includ-
ed expanded business through the Suez
and the far east. closer trade inter
markets in South America. as well as in
the United States. 1t was assumed that
with increased territory there would be
a natural expansion Of the trade Of that
territory.
In pursuance of the general policy, a
commission was making study Of the
commercial treaties which Italy had in
force. All of these were to be abrogat-
ed and a new series negotiated which
would be of a broader character, based
on Ita1y's enhanced Industrial and COM
mercial status.
This means that Italy will look to the
United States. This country already
has made a heavy investment in the
form of war loans. American capitalists
may find 1t desirable to supplement
these government loans by investments
Of private nature. That 10 the nat
ural basis for increasing tho trade of
the United States with Italy.