Evening star. [volume] (Washington, D.C.) 1854-1972, 1930-07-06
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Continued From First Page)
| his intervention the position of Italy
among the great powers of Europe was
! not little humiliating to those patriots
who remembered her past glories. We
were admitted to the fellowship of the
great powers, certainly-but only on
those occasions when they required our
aid. When 1t was our turn to receive
aid We met with little recognition at
their hands.
Change Wrought by Fascism.
Since the advent Of Fascism all this
in changed. Italy has become unques-
tionably great power, and our TO-
900 900 emigrantS. scattered in Europe.
| America and other parts of the globe
now take conscious pride in belonging
to our great race. In fact, I would go
so far as to say that those critics who
seek to depreciate our country are &C
tuated solely by a feeling Of uneasineSS
at her growing strength.
In short, the strenuous efforts Of
| MuSSolini have regenerated Italy and
the Italians, and the spirit of his reforms
has penetrated the entire nation, right
down to the young children-the organ
ization of the Balilla, whose unbounded
| enthusiasm for our cause gives us some
| indication of what our national strength
will be when they have grown to man
hood.
The main reason Of Fascism's weak
ness is the fact that this absurd and
| paradoxical system Is in opposition to
all laws of economy. Above all it is q
torpid and costly body which makes all
production difficult.
Ohicial statistics are usually imper-
feet, and tell us little. Nevertheless,
- fhA aV1t ~ a~IA ~
italian economy as consequence Of the
work of the FaScists.
The oflcial journal (Gazzetta Uf1-
ciale) has printed tables which testify
to the disaster. During the years since
| 1924 the excess of imports over exports
has increased greatly. The composition
of this trade is even more alarming. In
the heterogeneous decrease in imports
of raw materials and increase in i'm
ports of certain of the most essential
commodities we have q proof Of the
weakening Of home products.
Italy is q debtor country. She has
insignificant credits abroad and big
debts. Thus It is very difficult to strike
balance for the payments.
Revenues Listed as Compensation.
In the past the balance was compen-
stated by three revenues: Expenditures
Of foreigners, money sent back to italy
| by emigrants and freightages collected
by the merchant navy. Now, owing to
the Fascist policy, these three sources
| Expenditures Of tourists, who are con-
| tinually more reluctant to visit Italy
and remittances from emigrants have
been nearly cut in half, and the 1tanar
merchant marine faces o serious crisis.
Settlement of the commercial balance
has been made by debts. Nearly .$470,-
| O0O, 900 was borrowed in America In nve
years. The best italian industries have
the capacity for contracting debts mas
been almost exhausted.
The 100000 Italians in foreign
countries, workmen and peasants, with
| the exception of small minoritieS, are
violently anti-Fascist. They no longer
invest money in Italy nor do they remit
| any of their savings.
Mussolini has applied the Fascist
method. the cudgel and castor OIL: 70
| economic life. Everything must be done
through Fascist corporations, everything
must be controlled by the state.
| The Italian Ira has been stabilized at
a level which cannot be maintained
Consequently, the export trace mas
grown very difficult, while the burden
of taxation and debt has become unen-
durable. The crisis Is now making ~
self felt through the whole economic
| system.
Order Relating to Bankruptcy.
| The Italian law courts have been In
structed not to publish bankruptcy cases
unless requested. This restriction was
found necessary to avoid the bankruptcy
of great numbers Of commercial frms
yet. in spite of this, Italy has mac
numerous bankruptcies and many pills
of exchange have been unpaid on falling
due. Two thousand bills of exchange
have been protested daily and left un'
paid. The number of failures In trade
in spite of the restriction, has beer
| 600 q month. There are far more
bankruptcies in italy than In England
France or Germany.
Unemployment is high; wages arr
among the lowest paid in Europe anc
the life of the people is very hard.
The state credit is badly shaken
Nobody knows the true situation OF tn'
budget because of the present system!
of accountancy. SURPRISES are an
nounced, whereas, on the contrary
there are very large deficits-and. Will
1