Evening star., 1926-10-14
BACKGROUND OF EVENTS
BY PAUL Y. COLLINS.

| smoothed out their differences as to
| those islands, Greece acquiescing, per
| force, in Italy's present retention. At
no time has Turkey had anything to
do with the dispute between Greece
and Italy.
Italy is prospering under the rule
Of Fascism, led by the most inde-
| fatigable worker she has ever known
-Mussolini. She has no labor prob
| lem like those of England, for in
| Italy there is tribunal before which
all labor disputes must come for COM
| pulsory settlement. Striking Is made
! crime, and strikers are summarily
| jailed. There are but 100000 unem-
ployed in the country.
The Fascist government Is sup
ported in Parliament by three-quarters
of the members. and throughout the
masses Of population by an over
whelming majority-claimed to be
practically unanimous" Industry
and export commerce are f1ourishing.
Since the settlement Of the war debt
with the United States, the stabilizing
| Of the Ira has progressed steadily,
and def1ation Of the currency has been
| going on for the last two months,
gradually. not precipitately as in Ger
many, where billion marks were
destroyed in one day. In Italy in
the last two months some 100000 Ira
have been destroyed, to stabilize the
currency, and a settled policy of de-
f1ating at the rate of 100000 a year
has been declared. The result is a
rise in the value, averaging 5 points
a day.
If now rumor that Italy was about
] ho%
| the provocation-gainedc credence, the
Ira would suddenly drop in market
| value, and the spectators who had
| started the report would be the first
to profit thereby, for they would sell
short.
| While Italy has not undertaken to
| introduce new industries since the
| World War. she has discovered vast
iron and coal resources in Sardinia,
and Vaster resources in her own water
| power especially in northern Italy.
| This saves coal, for which she had
been paying foreign countries. Half
| of her railroads are already equipped
with hydro-electric power; all soon
will be.
| ** **
| Greece has met tremendous changes
since the World War. and especially
| since the Smyrna disaster of the
| Greco-Turkish War. and the ensuing
| exchange of nationals between Greece
| and Turkey The net result Of that
exchange added immensely to the
| population of Greece, and while i'm
| poverishing thousands of individuals,
it has brought into Greece many valu.
| able industries formerly monopolized
| by Turkey.
For example, most Of the weaving of
| Turkish carpets" was done in Asia
Minor by Greeks who have now been
forced to come to Greece. They have
! brought the art with them, and Turk
| ish carpets" will hereafter largely
| come from Greece.
| While Greece makes no claims to
important production from it's farms,
1t does claim that much Of the pure
Italian olive oil' is grown in Greece
| and extracted in Italy. because Greece
has no machines for making it. Also
| much of the pure Turkish tobacco
| comes from Greece, as we'll as the
currants for which Corinth is famed.
| Greece is neither Industrial nor agri-
! cultural, but is pre- -eninently COM
| mercial. The newly received Greeks
| from Smyrna had been accustomed to
| the great commerce of that city and
| naturally are ready to work in SINH
lar commerce in Athens. Macedonia
has great plains, penetrated by the
River Struma. When present enter
| prises of drainage of that region
! (rnostly under American management
| are completed, vast fertile territory
will be developed, capable of growing
enough wheat and other grains to feed
| the entire Balkans
| The recent overthrow of Pangalos.
| the dictator, by Kondylos, restores
normal. constitutional government to
the country. A general election will
! take place November I. restoring the
| Parliament. chosen by all the people
Peace, therefore, holds out to both
Greece and Italy far richer prizes than
war of conquest upon Turkey.
GCepysigAt. 1eo6, bv paui y. CellinAA