More Toes

Premier Benito Mussolini stepped on his Finance Minister's toes when he unlocked the deadlock on the Bourse occasioned by Finance Minister De Stefani's decree against speculation. This immediately led to rumors of Signor De Stefani's resignation and it was presumed certain that the Premier would have to reshuffle his Cabinet before the next Parliamentary session; for, having virtually forced General di Giorgio, Minister of War, to resign (TIME, Apr. 13), and having accepted the resignation of the Under Secretary of War, it was conceded impossible for the Premier to sustain the loss of De Stefani without making changes that will alter the entire complexion of the Cabinet.

The Bourse trouble was that the De Stefani decree limited the number of stockbrokers to about 33% of the existing total, thereby forcing many to liquidate their businesses and throw upon the market a large number of securities for which there were no buyers. Mussolini agreed to end this state of affairs by allowing all brokers to continue their profession, but he barred new ones from admittance to the Bourse until present numbers were reduced.