S. Rattazzi has once again affirmed in the most solemn
manner that the Italian Government does not intend to reduce the interest -on Italian Rentes. He says he can raise no loans outside Italy, and his policy, therefore, is to raise money in Italy by bonds which will be accepted in payment for Church property. This property will be sold in small plots, and very slowly, and this loan is, therefore, guaranteed on land. He promises, moreover, reduc- tions by the next budget. This is all very well ; but his promises -do not extend to the production of the necessary equilibrium, which will require an almost revolutionary energy. He made, too, a promise quite unnecessary, not to touch any but the landed property of the Church—a pledge which strengthens the idea that the King is in communication with the Vatican.
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