Financial Improvement

If Fascism has frequently indulged in pyropolitics to its moral discredit, it has at least vindicated itself on the practical side of its policies.

Finance Minister Signor de Stefani recently published a few facts and figures concerning Italian finances. Since July 1, the internal debt shows a reduction of 1,175,000,000 lire* and a reduction of 25,007,000,000 lire since the Fascist! seized power. The internal debt now stands at 91,968,000,000 lire and liquid funds at disposal of the Treasury have been increased during the same period by 300,000,000 lire. For the first semester of the current fiscal year (July 1924 to June 1925), receipts have exceeded budgetary estimates by 679,000,000 lire, but a deficit was shown of 183,000,000 lire against 700,000,000 lire for the corresponding period of 1923. The budget for 1925-26 is expected to produce a surplus of 198,000,000 lire.

*The lira is worth approximately .0412 dollars at present.