GERMANY-ITALY: $20,000,000 Visit

"King by the Grace of God and the Will of the People" is what astute, courageous, popular Vittorio Emanuele III was long before Il Duce added the title of "Emperor." Last week His Majesty surprised casual foreign observers—not Italians—by making Adolf Hitler's visit to Italy the occasion for visibly demonstrating that Benito Mussolini is not the whole cheese in Italy—although he is of course The Big Cheese, as Neville Chamberlain is in England.

Up to a few weeks before the 1922 March on Rome, Fascist Mussolini was an avowed Republican pledged to upset...