The Waterbury Democrat., 1939-10-24

Q Mussolini's government has of many contracts which the belligerent nations received before the war began but which they are now unable to fulfill.
 To meet these new demands, fac- tories throughout the country are operating at full speed. New factor ies are being rushed to completion to increase production of Italian ex- ports.
 Italy doesn't intend to limit her. self to expanding her exports solely among those goods in which she al- ready holds a pre-eminent position. plans are being put into operation for the enlargement and encouragement of fashion and dressmaking eStab- lishments which will attempt to sup plant the arisian Haute Couture Houses in setting new styles.
 Increase Italian Films
 Another export that Italy plans to increase is Italian films. With French, English and German movies out of the running Italy considers herself the only serious competitor of Hollywood. The Italian movie industry has greatly enlarged plants and equipment at "Cinecitta"---the Fascist Hollywood-counts on sup plying films for all sections of the world market that prefer continent- al to American films.
 Although Italian shipping was suspended for a few days at the beginning of the war, Italian vessels have now resumed all regular routes. As Italy is the major Euro- pean power remaining neutral and with the probability that Congress will forbid American ships from en- tering the war zone, Italian ships may be the only ones with regular schedules on which both passengers and shippers of merchandise can feel safe from sinking or capture, Fascists say.
 S500,OO0 In Fares
 Each New York bound trip of the Rex or Conte Di Savoia, 1t was brings in over $500, 900 in fares. High wartime tl- surance premiums have resulted In the cost of passage being increased 8 bout 60 per cent. All passages must be paid in foreign currency. Italian boats to South America and the Far East also are full.
 Most Italian airlines have been resumed including those to belliger- ert countries. Italy hopes to capture a profitable airmail and air-freight traffic between Europe and South America with the new Italian air. line that connects Rome and Rio re Janeiro.
 While expanding her exports, Italy is determined to reduce her imports excepts where raw materials are directly needed for industries supplying manufactured articles for AS far as possible, Italian raw materials will be used and, among other textile products, will try to push sale of recently invented artificial woolsns goods.
 Wool Made of Milk
 Made of mill. this synthetic wool is not as durable as the real thing but its packers say it is guaranteed to wear more than half as long as real wool and costs 50 per cent less.
 Italians al see in the war an to create a favorable trade balance which, in turn, would put Italian finances on a flrmer bolster the treasury and perhaps in a few years enable Italy to relax the rigid self Sufilciency which deprives the people of all luXuries.
 Authoritativ: circles say Italy lost very little " the fall in value of belligerents' currency at the out break of the war as Italy never kept large reserves of French francs or reichmarks and had been getting rid of English pounds since last spring.
 No Foreign Currency
 When the war began, Italy had no foreign currency on hand except American dollars. To- day the only currencies Italian ex- porters deal in are dollars, the South American monies, Swiss francs, Dutch guilders and-Gold.
 Foreign money that comes in will probably be diverted partly to buy ing gold to replenish the national treasury. One Italian businessman explained 1t this way We want to do what Americans did between 1914 and 1917. Only we shan't lose all our profits at the end by going into the war"