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May 20, 2012

1937 Italians’ Deficit Nil

ROME — Combining a “soak the rich” with a “pay as you go policy,” Italy has been able to meet the cost of the Ethiopian war and the deficit of the past two budgets out of extraordinary revenues, Count Thaon de Revel, Finance Minister, revealed today [May 20]. The patriotic Italian people turned into the state enough to cover 12,111,000,000 lire, the estimated cost of the Ethiopian war from 1934 to 1936, and the deficit for 1934 through 1936 as well, -- 100, 75, 50 Years Ago - NYTimes.com

Posted by gerardvanderleun at May 20, 2012 7:09 AM. This is an entry on the sideblog of American Digest: Check it out.

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