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Foreign News
May 30, 1911
The Detroit Times
Detroit, Wayne County, Michigan
What is this article about?
In Rome, Italian businessmen fear a major financial panic amid inflation, failed Jubilee Year tourism expectations, and widespread labor unrest disrupting business.
Clipping
OCR Quality
98%
Excellent
Full Text
ROME, May 30.-Italian business men are becoming greatly alarmed at the prospect of one of the worst financial panics their country has ever seen.
The nation has been passing during the past few years through a period of almost insane inflation. At just about the time when the bubble seemed certain to burst there comes the nearly complete failure of the jubilee year celebrations. Every one had expected an enormous inrush of tourists for the festivities, but the tourists are not coming. Things are, in fact, not so lively as usual. The prodigious sums spent on preparations for the visitors' entertainment at fancy prices are consequently going to be lost.
Another trouble is that the masses of the people have not been allowed to share in the prosperity of the upper classes and labor troubles have reached such a point as to interfere with every kind of business.
The storm threatens to break any day, and when it comes there is every sign that it will be terrific.
The nation has been passing during the past few years through a period of almost insane inflation. At just about the time when the bubble seemed certain to burst there comes the nearly complete failure of the jubilee year celebrations. Every one had expected an enormous inrush of tourists for the festivities, but the tourists are not coming. Things are, in fact, not so lively as usual. The prodigious sums spent on preparations for the visitors' entertainment at fancy prices are consequently going to be lost.
Another trouble is that the masses of the people have not been allowed to share in the prosperity of the upper classes and labor troubles have reached such a point as to interfere with every kind of business.
The storm threatens to break any day, and when it comes there is every sign that it will be terrific.
What sub-type of article is it?
Economic
What keywords are associated?
Italy Financial Panic
Inflation
Jubilee Year Failure
Labor Troubles
Where did it happen?
Rome, Italy
Foreign News Details
Primary Location
Rome, Italy
Event Date
May 30
Outcome
prospect of a severe financial panic threatening to break any day.
Event Details
Italian business men alarmed at impending financial panic due to years of inflation, failure of jubilee year tourist influx leading to lost preparations costs, and labor troubles interfering with business.