National Affairs: Italian Debt

The Italian Debt Mission, headed by Count Volpi, last week got down to business with the American Debt Commission, headed by Secretary Mellon. Observers remarked that the Italians appear to be a new kind of debtor—different at least from the other major debtors who have come to Washington to arrange their debts:

The British came like one banker coming to meet another. There was very little question of capacity to pay. The British were too proud to admit that they might be unable to pay any debt they had contracted. The negotiations were...

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