Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1922-02-22
Italy's Reasons
for Slow Payment
| of Her War Debt

tariffs against Itallan gOOuS anu re-
strictiye laws, against Italian immi-
grafton are stumbling blocks In
Italy's way toward the payment of
her debt resulting from the world
war, Senator Vittorio Rolandi Ricci,
Italian Ambassador to the United
States, declared tonight in an address
before the Philadelphia Rotary club
If Italy cannot export her products to
America and cannot send her laborers
here, he said, she will never have the
means to pay her debt.
"Those are the horns of an inevita-
BILE dilemma" said Ambassador Ricci.
IF you wish to protect your agricul-
ture, your industry and maintain
your standard of wages at any cost,
you must give up the idea of collect
ing your debt from Italy because your
customs and immigration policies
make it impossible for her to pay.
If, on the contrary. you wish to be
paid, you must not prevent Italy
from doing so even though it will
take her a long period OF years.
Italy is under the impression that
the question of labor immigration has
not been we'll understood in this
country. The fact that the same law
applies to every kind of immigration
seems illogical. Italy feels that her
regulated immigration should be
treated with benevolence by the Unit
ed States where so many of her sons
make their homes. The rules and
regulations in regard to Italian i'm
migra ton to Lmerica should be q
matter of mutual understanding be-
tween the federal government and the
economic benefit of such an UNDER
standing is obvious"
Discussing the establishment of
commercial relations between Italy
and Russia, the Ambassador pointed
out that his country, quite apart
from any political influence or any
question of recognition of the Sow
cts" had found it desirable to resume
trade relations with Russia as a
means towards a resumption of eco
nomic activities and of the supply OF
much needed wheat. He said that
italy had no prejudice against the
recognition of the Soviets and that
they would be recognized. when it is
in Italy's interest to do So
Recent expressions of opinion by
the Italian Parliament" the speaker
declared, "have been to the effect that
the government should he given full
liberty of action and full power to de-
eide if and when such recognition
was to be accorded"
Italy, I've added, had monarchic
parliamentary government whose OPP
Grafton no foreign power could con-
troll without infringing upon her po-
litical independence. ANY question
ing Of the legitimacy of the Italian
form of government by a foreign
power" he said would be considered
her own affairs"
Speaking of the depreciation in
Italian exchange, the Ambassador
said that the lire was actually worth
much more than the value placed on
it in foreign markets. Its under
valuation" he said, can only be eX-
planned On the basis of mistaken cal
culations, ignorance or speculation.
The best evidence that the exchange
on the lire is unjust consists in the
fact that. while you value your dollar
at twenty-five lire, you can buy in
Italy many more useful and neces-
sary things for twenty two lire than
you can buy here for one dollar"
Ambassador Ricci said he did not
think it logical or just" that Amer
lea decline TO have anything to do
with European affairs. at is not log
ical," he declared, because if you
have a credit against some private
person YOU do not certainly feel that
YOU must decline to interest yourself
in his circumstances, but you are
rather inclined to help him pay you
his debt i'll the shortest possible
time. 1t is not just. because if you
find that the peace treaties signed in
Europe are Intellectual, either on ac-
count of exaggerations or deficiencies,
YOU must not overlook the fact that "a
man who spoke and acted in youl
name had q preponderant part in
making them. Therefore, if YOU
find that we have not attained q real
peace you must also consider that
Europe is not alone to blame for it,
and that justice requires that you act
With US to correct our common mis-
takes
The Ambassador referred briefly Ia
The Washington arms conference, de-
clarins that now that naval arma-
monts had been reduced, he was con
vinced that all nations eventually
would curtail their land ornaments
Let us hope" he said. that little by
little we may reach our goal and that
the Christian, principle of human
brotherhood may prevail among ma
tons: guiding their governments t.
save mankind from wars even moro
terrible and destructive than the las,
one"