The Pensacola journal. (Pensacola, Fla.) 1898-1985, 1920-08-14

of that body in the early part OF July.
went to Italy where he made an ex-
tended survey of business and financial
icouditions.
In attempting to estimate conditions
in Italy," he said, 1T must be remem-
bered that when Italy left the triple
alliance. she not only severed her poll
teal associations with Germany and
Austria, but also relinquished the chief
sources Of her food supplies AMI raw
materials for industry. Her action
served notice upon the teutonic coun-
tries that from that time forward her
industrial and banking enterprises were
to be diStinctively Italian. This
amounted to complete change in the
course which the commercial life of
the country had taken.
The efforts which Italy has made
since the armistice to fulfill the ma
tional ambition which was expressed
In her reputation of the triple alliance
have occasioned many severe trials.
She began, however with certain ex-
ceptional advantages. Italy has always
had surplus Of high grade lbor She
has always been and will continue 10 be
an exporter of labor. but the love Of
the Italian for his home country, which
is as intense as any in the world, makes
1t possible for Italy to look complacently
upon the emigration of labor in the
assurance that the wealth created in
other countries by the efforts of these
men and women will eventually re-
turn, and so be tantamount to the ex-
poItation of materials. This situation
IS also associated with the facs that
It1ly,cannot supply her own food neces-
stiles. 1t is therefore economically
sound that Italian labor should live
abroad and remit its SURPRISES TO the
homeland
"Since the armistice Italy has re-
sumed her industrial life with consid-
cradle rapidity. She has not been free
from the uncertainties of radical po-
litical action, but there is every evil
dence that these are on the decline.
Italy is at work as completely as any
nation in Europe and more so than
most of them. Her wealth in hydro
electric possibilities is being developed
at a rapid rate. The current for IN
dustrial purposes, which absorbed as
quickly as it is produced. is extremely
cheap. and In few years II VIII ne
abundant. The whole country is De-
ing interlaced with electric lines. me
various companies engaged in TINS
work are well financed and are work
ing tremendously in both plant ana
line extensions. The men engaged ID
This business are young, energetic ana
canable business men, highly represen-
tatiye Of the new spirit that has pos
sessed the industrial life. Of the eoun-
try The identification OF the Italian Gua
railways now proceeding involves 4'ooo
miles of additional trackage. The cost
Of the current Is not so great proDieIh
as the cost to the government OF con-
verting the necessary equipment but
the mileage already converted IS con-
siderable and the equipment is OF
very high order.
"Heretofore the port facilities In
northern Italy have been largely re-
stricted to Genoa, and these are now
TOO small for the industrial position OF
the country. The task OF providing
greater facilities has therefore been
undertaken and a new port is in pro-
cess of development at Venice, about
five miles from the old city, and so
laid out that the new industrial area
surrounding it will not mar the beauty
or destroy the romance OF Venice, while
being at the same time of great as
sistance in moving raw materials and
industrial manufactures to and from
northern Italy"