ITALY: Pumping & Pruning

Still a stranger to many otherwise well posted citizens of the world is the new Benito Mussolini, the Duce who has taken to digesting balance sheets, mastering trade statistics, engineering huge combinations of Italian industry and grappling intelligently with the octopus of hard times. Last week, without turning to foreign bankers, Il Duce floated a new $50,000,000 loan entirely in Italy, kept the lira still at par, surveyed the foreign bond market on which Italian issues remained strong and perhaps congratulated himself.

The new Duce has steadily emerged as Italy's years have...

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