Word: lira
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Dates: during 1930-1939
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...Duce's view inflation or debasement is a slick way of cutting wages and prices under the pretense of raising them. For an undisciplined nation such slickery may be the only way, but it is not the way of a Mussolini. Once before, when Il Duce stabilized the lira on gold, he cut Italian wages and prices (TIME, May 30, 1927). In 1930 he forced every salary in Italy, all rent, light, heat, food and transport charges down between 10% and 12%. Details of the new cuts were being worked out last week by the Ministry of Corporations...
Word has been received from the Vatican City that George D. Birkhoff, Perkins Professor of Mathematics, has been awarded the biennial prize of 10,000 lira by the Pontifical Academy of Sciences for his memoir on the systems of differential equations. The prize award was conferred by Pope Plus XI, and in Professor Birkhoff's absence it was accepted for him by Professor Tallio Levi-Civita, member of the Pontifical Academy of Sciences...
...hold the bag and two to enjoy the joke. Edouard Daladier is firmly determined that if the London Conference is a snipe hunt, it will not be France that is left holding the bag. She is already holding the gold standard bag, with pound, dollar, mark and lira all cut loose. She cannot devaluate her money further without risking violent insurrection from hard-bitten French investors, who have already seen 80% of their savings swept away in the inflation and demonetization of the franc in 1924-28. And France has few bargains to offer foreign countries in tariff trading. Most...
...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...
...quotas approved by the State in speculative efforts to cut each other's throats. The silk trade, on the other hand, reached a pass of despair last year in which honest worm raisers began to burn their mulberry trees. The State stopped that with a bounty of one lira per kilogram of cocoons, but the silk, metal and several other trades must be thoroughly overhauled. Such jobs take money. Hence last week the $50,000,000 loan...