OCR Text |
Show Italy Has Plenty of Money. Rome, Dee. 2. In the discussion on the budget, Tuzzeti, minister of the treasury, said that excessive expenditures and an over estimation of receipts had caused the budget for 1S91 to show a deficit of l,0iK),(X)0 lire, which the new economics and financial measures would amply cover. Siguor Tuzzeti Tuz-zeti added that, in the budget of 1S!2, the revenue would cover all the expenditures and give a surplus of over 9,000,000 lire. This is the first time in the history of Italian finance that such a result will be achieved, bnt, to secure this, parliament must accept all the" government' s proposals. He said that the treasury debt now amounted to : 457,000,000 lire. Instead of meeting the debt in the usual course by an issue of rentes he proposed to issue treasury bonds for seven and a half years, redeemable annually, to be subscribed for only in Italy. , Able financiers here consider that Minister Tuzzeti Tuz-zeti has over estimatep the government's income in-come by 3,000,000 lire. |