ITALY: Prudent?

Since the Italian debts to the U. S. and Britain have been heavily scaled down and funded (Italy paying the U. S. a doubtful 25c on the $1), the Italian government found itself last week in a position to undertake enterprises and expenditures which otherwise would not have been financially prudent. Examples:

Loan. Premier Averescu of Roumania announced that the Italian government has "voluntarily and unconditionally" offered to the Roumanian government a loan of 200,000,000 lire (some $8,000,000), to be amortized in 15 years (Italy is given 62 years to make part payment...

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