THE ITALIAN DEBT [To the Editor of the SPECTATOR.]
Sia,—Now that the Italian debt to England is being again discussed I think it not useless to show that a part of the difficulties originates from the fact that Allied public opinion knows nothing of the decisive importance of the Italian co-operation to the common cause and of the immensity of the Italian sacrifices.
Italian neutrality permitted France to demobilize Italian frontiers and so utilize at least six army corps in the memorable epoch of the Marne. What would have been the result of this great battle if France had been deprived of six army corps ? Once entered into the War, Italy with more than 4,500,000 soldiers kept engaged and faced the greatest and best part of the Austrian army. What would have happened if Germany, on the Allied front, had been able to dispose of such a manoeuvring mass as the Austrian army—i.e., some millions of excellent soldiers, above and beyond her own millions ?
The Italian financial endeavour was, in a compara tive way, much greater than that of any other belligerent, as Italy sacrificed more than a quarter of her national wealth, besides
that which is represented by debts. She had provinces invaded and completely devastated by the enemy. The Italian
sacrifice in blood was also superior to any other, as is shown in the following table :-
Population Killed Percentage
States. (approx.) in War. of killed.
France and Colonies 87,000,000 1,071,300 1.2 England and Colonies 430,000,000 689,246 0.16 17.8.A. and Colonies .. 105,000,000 72,951 0.07 Italy and Colonies .. 39,000,000 596,921 1.3
The War waS an economical, a financial event, and Italy, already poor, had the smallest of the economic rewards among the great nations. She was compelled to renounce all colonial rewards and to accept the smallest share of the German indemnities. So, poorer in the beginning than England and France in capital and colonies, Italy was made still poorer. Italy's inability to pay is, then, the direct conse- quence of the position into which England and France put her.
- But, apart from all that has been said above, the question can be looked at as follows : Italy's entry into the War was decided exclusively by the generous impulse of helping the cause of the right and the just. Therefore, no haggling, no particular pact for the expenses ! Italy, in consequence of the solicitations of the Allies, was even pushed to anticipate the date of her interventlbn, which really fell in a particularly critical moment for the Allies. She gave the best she could, viz., unequipped soldiers. The Allies provided the means of equipping the generous Italian material.
To put the question in a nutshell—Italy was the man who lent his car to his friend in an emergency. The friend supplied the fuel. Is the owner of the car in debt to his friend ? Will generous, rich England, trample on logic and sentiment for a financial interest quite small for her ?—I am, Sir, &c.,
AN 1w...tux.
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