British Commonwealth of Nations: Italy's Debt

Chancellor Churchill of the British Exchequer struck hands with Finance Minister Count Volpi of Italy last week; signed and sealed an agreement with him that Italy is to pay the following sums to Great Britain in liquidating her debt:

Fiscal Years..........Annual Payment
Last half of 1926*.....£2,000,000
1927 and 1928...........4,000,000
1929 through 1932.......4,250,000
1933 through 1987.......4,500,000

First half of fiscal year 1988....2,250,000
Total over 62 years....£272,250,000

Special Clauses. 1) After Sept., 1928, Italy may exercise the option of postponing the...

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