ITALY: Brutal Frankness'''

Count Giuseppe Volpi, brilliant, suave, self-made Finance Minister, spoke to the Senate, last week, with what he styled "brutal frankness." The Government, he said, had put the lira on a gold basis (TIME, Jan. 2), but it will not go further and issue gold coins. Secondly, the Government will shortly lift most of the restrictions on foreign trading and exchange transactions with private Italian interests. Thirdly, notice is again given that Italy will continue repaying her debt to the U. S. only so long as her receipts from German reparations continue.

During his address Count Volpi strikingly exhibited the fact...

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