Foreign News: Dip Into Gold

One of the major moves by which Benito Mussolini jacked his country above the status of a second-class power was to put the lira, previously a wobbly joke currency, squarely on gold (TIME, Jan. 2, 1928). Soon at Pesaro the Lira Monument was reared, cut deep with II Duce's promise to defend the gold lira to the last drop of Italian blood. Since then nothing has occurred to convince the Dictator that any other statesman who inflates, debases or trifles with currency values is not dead wrong. Last week with U. S. President Roosevelt,...

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