New-York tribune., 1922-02-19
Internal Calm,
ArOuses a Anew
Hope i'll Italy
Political Strife Ebbs: Wide
Wealth Distribution OF
sets Radicalism; Many
Industries Strengthened
Foreign Capital Is Needed
American Money Reported
Involved in the New Port
Development at Palermo

so-c+o, Foreign rs'ascto' Correspond
ROME, Feb 3.-puring this las.
period not only have the encounters and
rnunists decreased, but also in
the newly annexed provinces, such as
Trentino, Trieste and Istris. tho c,tv
elections have taken place in perfect
order notwithstanding the discord be-
.ween italians. Slav. ard Germans
Italy IS essentially county Of
small landed proprictoYs. According "a
the 1911 census we have 3.7o6.56l land
and house propretors, hardworkinp and
thrifty, interested in the maintenance
Of order Furthermore, the wealth in
fhe country rs widely distributed. For
:netance, Italy mas only 5llS million
sires and they own 10000 900 600 liro
vhich Is not even tenth of the ma
tiona' wealth. These facts exnlajo
Why italy seems to run nttlc risk Of
a revolution. and in 1921 it has been
possible. without great difficulty. to
reduce wages by an average Of i ner
cent.
In December, 1921, there were about
100000 unemployed, $4,000 working at
reduced time and $4,000 WORKING in
turns, but with the spring many unem.
ployed. now in the cities will return
to the farms, and it is hoped that
many industries handicapped by the
drought will return to full time. In
1871 the soundest industries endcsv-
ored TO strengthen financially. and ~
that period 773 companies Increased
their capital by 2.50O,o0O000 lire.
Cable to South America
Cables and wireless are not 20 he
considered as concerns in connection
With one another. bat rather as supp1e
Mentlng each other and Italy has not
hesltated IN signing Il convention with
a private company for a direct cable ia
South America. The work is to be fin
ished within three years, at an esti-
mated cost Of s000O,O00 gold lire. The
government IS also planning further
wireless Developments. At present
Italy is negotiating for direct cable
10 the United States.
One OF the principal points of in
tercst this week is the question OF re
organizing the Banca Itaiiana u
sconto- The industries which had been
financed by the bank favor (; new bank.
shlch would continue with more wis
dom the same form of credits. Ia this
connection the advisability Of accent
ing the help Of foreign capital in order
TO get the money necessary for the
new enterprise is widely discussed.
Before the war the investment of
foreign capital in Italy amounted to
about 900 600 600 lire, OF which 1872,
100000 represented the capital of for
e'gn companies for financial operations
N this country.
re larger Investments were made
BY beleiar capital. 67,oo0ooo, fol
iored BY France with 124000, 900 Eng.
nsd 10000 600. Su'ltzerlan 5000
goo and after Russia came the United
states, with only l.lS0,0 600 lire
Chance for L. S. Capital
The roat-~ar statistics are not avail
sble, but there is no doubt that Ameri-
can capital could easily take the places
u Russian and German capital.
Foreign capital would be especially
welcome at present after the war has
used up so much wealth and when
public opinion IS cxasperated at the
bad economic result OF state bureau
cracy.
1t is rumorcd that American capital
g interested in the Piedmoutese Elec-
.rlc Company and in the construction
o. the new port at Palermo. The gov
crnment will not place any restrictions
as 70 passports, customs and naturali-
zstlon N regard to foreign capital look
ing Tor luyestment in this country.