Evening journal., 1920-02-17
A Message From the Government
ofHaIy to the american People

Nobody who is familiar with ltaly's
economic position can fail TO appreciate
the exceptional nature Of the financial
strain which the war has placed upon
her. The main features Of italian eco
nomic structure are such that the con-
seduences OF the war were bound 10
weigh more heavily on her than on
any other country. All agricultural eN-
ports-a most important item in her
foreign trade-had 90 be suppressed, a.
the food could not be spared from
home. Her greater dependence upon
the markets Of Central Europe, the
shortage OF tonnage and shipping Ia
ellities the deficiency Of raw materials
OF every kind, the grave submarine
menace 10 which the Mediterranean
was exposed, these not only severely
curtailed, but almost killed, her indus.
fGal export trade; while the tourist
trade and emigration. which played in
her trade budget a more important role
than in that OF any other country
were completely destroyed.
Italy suffered from all The economic
disadvantages OF the war, but she en-
loved more OF the advantages which II
brought. England, for instance, had 10
become a manufacturing emporium Tor
the Allies. which implied an immedi-
aie economic benefit TO her people.
Prence had the tremendous advantage
~ the presence Of the Allied armies
on her soil, which meant a steady IN
fux Of fresh blood into her economic
orranism 'Nothing Of this kind oc-
Cured in Italy.
INT Il must be remembered that the
greater the compression, as compared
with other countries. Of our export
trade the greater will necessarily De
the margin OF our recovery. fhe ieWer
the war industries Italy was put III
position TO create during the war lhe
less complicated viii be the difficulties
of Transportation The higher the pro-
portional cost OF freight on our I'M
norts, the more noticeable Will be the
benefit which, in time, we shall derive
from the lowering OF the cost OF trans
nortation. The greater the disadvan-
tage Of the displacement or supplying
or imposing markets during the war;
,he more conspicuous, In due course
win be the benefit Of the return to nor
mai conditions. In other words, ltaly
eventually will benefit from the Sc
verify OF her past sacrifices. Ihsn'
again. Italy's future Is assured, more
perhaps than by any other factor, by
ihe proporiionately larger amount Of
labor which she has available while
the value OF labor, as a factor IN the
general economy OF nations, is certainly
higher than It ever was before.
II is not possible TO show in Few
words how remarkably we'll Italy has
done. and is doing, in the way OF her
economic recovery For the moment,
wish TO call attention 10 two con-
splcuous features Of our situation: the
steady increase Of our export trade
and the courage Of our fiscal policy.
During the last few months not
single strike Of any importance has
taken place in Italy. The great mass
OF the country has been and is hard at
work. In many instances, in several
Italian industries, the workers, at their
own request, are working more than
eight hours daily, and production is at
full speed. Increased expectations Is
o. course resulting from increased
production. This increase IS relatively
greater than in any other European
country. From the monthly statistical
bulletin Of the Supreme Economic
Council the following figures are taken
showing in thousands OF pounds ster-
ling the expectation from the United
Kingdom, France and Italy:
United
Kingdom, France. Italy
1913 Monthly av.. 4377O 22,934 1872
1914 Monthly av.. 1898 1929 1868
1915 November ... 1929 H,l6i $3.50