Word: lira
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...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...
...Germany today the Government rashly advertised last week by seizing the Berlin bank account of famed Erich Maria (All Quiet on the Western Front) Remarque and accusing him: 1) of having established a residence in the Netherlands and 2) of banking outside Germany his dollar, pound, franc, lira and other royalties...
...interested Wall Street. No gold shipment of such size has cleared from the U. S. for Italy this year. Smug, the Bank of Italy (having probably obtained its U. S. gold via France) would admit only that Italy had got it, would use the precious stuff to keep her lira on the Gold Standard...
Since II Duce organized his country as "the corporative state"* there had not been a single open strike in Italy until last week. Suddenly the weavers of Parabiago and Legnago walked out of their mills, struck against a cut which reduced their wage to twelve lira (62?) per day. For its first four days the strike was like any other, then bands of Fascist militia began to converge upon the district. In a sense, II Duce's "corporative state" was on trial. Presumably his blackshirt militia would break the strike...