The financial statement presented to the Italian Chamber by thaTreasury
Minister last Saturday appears to have given general satisfaction. Signor di Broglio can point to a surphis of- 21,648,000 of revenue over expenditure for 1901, after spending 2300,000 in_the redemption of Debt and £720,000 in railway construction. A surplus of 2500,000 is calculated for the current year ; the floating Treasury Debt has been reduced by 22,500,000 within the last three years; Consols are at par; the gold premium is reduced to 2./ per cent. ; Posts, telegraphs, tobacco and sat monopolies, Income- tax, duty on manufactures, and the tax on business trans- actions are yielding increasingly satisfactory results; and "the rising tide of pensions" has been checked. The Rome correspondent of the Times, while eulogising the statement as 'an-" honest document," gives Signor di Broglio a character which is curiously like that of Sir Michael Hicks-teach. Altogether,- the new Budget adds force to the contention Of Mr. Bolton King in this month'e Contemporary that the new reign in Italy has been coincident With a Marked improve- ment in the social, economic, and politicalcondition of Italy.