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Sometimes I wonder whether the Italians do not immerse themselves a little too much in these means of war and lose sight a little of the ends, but over nine-tenths of Italy's frontier the war is Alpine, and it must be allowed that Italian soldiers have brought the art of mountain fighting to a degree of perfection which it has never attained before.

In the Near East, where so many of Italy's interests are now concentrated, the Societa Commerciale d'Oriente of Constantinople, being one of the agencies of the Banca Commerciale, was also one of the canals through which this influence passed.

It has been rumored, though with what truth I cannot say, that the Allies have agreed, in the event that they are completely victorious, to a rectification of the Tunisian and Egyptian frontiers, thus materially improving Italy's position in Libya, as the colony of Tripolitania is now known.

In a relatively short span of time foreign competition in Italian markets was checked, German products ousted those of their rivals, and at last the very sources of Italy's economic life were in the hands of the Teuton, whose continued goodwill became almost a vital necessity to the struggling nation.

That will be a fine day it will have to be, when first you set eyes on Italy.... That's as far as we go." "Can't we go down into Italy?" "No," he said; "it won't run to that now. We must wave our hands at the blue hills far away there and go back to London and work." "But Italy " "Italy's for a good girl," he said, and laid his hand for a moment on her shoulder. "She must look forward to Italy."

There is no doubt that Germany, recognizing the danger of flouting Italy, brought strong pressure to bear on Austria to surrender at least a portion of the regions in question. Austria, however, bluntly refused to heed either Italy's demands or Germany's suggestions. She refused even to discuss the question of ceding any part of her Italian provinces.

And thus the disaster was great indeed when France, learning of Italy's alliance with Germany, withdrew her 800,000,000 francs in less than two years. The Italian banks were drained of their specie, and the land and building companies, being likewise compelled to reimburse their loans, were compelled to apply to the banks of issue, those privileged to issue notes.

To the average Russian, therefore, the bulk of the Balkan peninsula is as much Russia Irredenta, as the north-east coast of the Adriatic is Italia Irredenta to the average Italian; and as a matter of fact there is a good deal more to be said for Russia's case than for Italy's.

For half a century this dangerous flaw in the national edifice and its pernicious effects on Italy's international relations had been patiently borne with, but Baron Sonnino considered that the time for repairing it and strengthening the groundwork of peace had come.

Who would substitute the rush of a new nation, the struggle of an awakening power, for the dreamy sleep of Italy's desolation, for the sweet silence of melancholy thought, her twilight time of everlasting memories? There is the case, stated with beautiful lucidity, of the somewhat ghoulish dilettantism which, enjoying tombs, would condemn all mankind to breathe their atmosphere.