Booklet 6

• Who was the first Fascist finance ministers?

  de Stefani.
• What did de Stefani support?


  Supported laissez-fair economies and free trade, and so did Mussolini
• When was de Stefani removed?


  Removed in 1925 when Mussolini wanted more control over the Italian economy.
• What policies did de Stefani have?

  - Privatised telephone sector and other national industries, as well as deregulated the economy and cut tariffs.- He was successful between 1921 and 1924 as Italy's manufacturing improved and achieved a budget surplus.
• Who was made finance minister after de Stefani?

  Giuseppe Volti in 1925.
• What policies were involved with the Battle for the Lira?

  In 1927 the lira was fixed at:19 to $192.46 to £1.
• What were the consequences of the battle for the lira?

  It resulted in a range of deflationary measures, massive prices reductions and cuts to wages. Export industries suffered the most as the policy overvalued products overseas.
• What aspect of the corporate state occurred in 1925?


  All unions other than fascist unions abolished.
• What aspect of the corporate state occurred in 1926?


  Rocco Laws ban strikes and Ministry of Corporations is established.
• What aspect of the corporate state occurred in 1927?


  Charter of Labour asserts worker's rights.
• What aspect of the corporate state occurred in 1928?


  Fascists unions split up.
• What aspect of the corporate state occurred in 1930?

  National Council of Corporations is set up.
• What aspect of the corporate state occurred in 1934?


  22 corporations of major economic sectors are established.
• What aspect of the corporate state occurred in 1939?


  P is replaced by the Chamber of Fascist Corporations.
• What were the effects of the corporate state for workers?


  Benefits:- Allowed a say in economic planning. - Charter of Labour asserted worker's rights.Drawbacks: - Rocco laws banned strikes. - Unions dismantled in 1925. - Industrialists still had a large amount of control.
• What were the effects of the corporate state for industrialists?

  Benefits: - Rocco laws banned strikes.- Fascists had to rely on them for spending.- Unions dismantled in 1925.Drawbacks:- Had to share economic power with workers.
• What were the effects of the corporate state for fascists?

  Benefits: 3 Fascists oversaw each corporation, meaning they had a tighter control over the economy. The corporate state was a top-down system of control, allowing them to retain greater control over Italian society. Drawbacks: Had to surrender some power to workers and industrialists.- Made spending on the war harder, as it meant that businesses and workers had to consent to this.
• What was the primary success of the corporate state?

  It presented the illusion that Mussolini had found a third way between Capitalism and Communism.
• What happened as a result of the Great Depression?


  - Stocks fell by more than 35%.- Manufacturing dropped 14%.
• What was the Fascist's solution to banks struggling to repay loans?

  The IMI was founded which provided credit to banks, as the government had purchased shares.
• What was the Fascist's solution to businesses struggling due to a fall in demand?


  Cut worker's wages by 12% in 1930.Cartelisation and mergers were encouraged.
• What was the Fascist's solution to businesses struggling due to foreign competition?


  Lira de-valued in 1936, which led to a boost in exports and autarky.
• What was the Fascist's solution to unemployment rising from 300k to 1 million during the Great Depression?


  Large public works schemes in roads, houses, electrification of railways + welfare was increased.
• What were the aims of autarky?

  - Too many imports would mean that Italy would be left vulnerable to economic sanctions.- The Great Depression encouraged many countries to turn towards self-sufficiency.
• What policies were involved with Autarky?

  - Strengthening Italy's control of foreign currencies.- Conducting trade through bilateral agreements, to ensure the value of imports matched that of exports.- Minimising imports, to avoid use of foreign currencies and gold reserves.
• What successes were involved with Autarky?

  - Requirement that imports and exports were matched, ensured less use of foreign currencies and gold reserves.
• What failures were involved with autarky?


  - Italy lacked raw materials and relied on imported coal and oil.- National deficit increased as Italian products were cheaper to import.
• What were the aims of the Battle for Births?

  - Belief that the pop. of 40 million would not be good for a war. - It would help to create more competition for employment, that would help to keep labour costs low. - Believed that it would improve labour quality, relations with the Catholic Church and increase the number of consumers.
• What were the policies of the Battle for Births?

  - Tax reductions for families and mothers.- Loans for married couples were cancelled for each child.- From 1928 employed men were given tax concessions if they had families 7 or larger.- Bachelor Tax introduced in 1927.- All forms of birth control banned through the Rocco Code in 1930.- Fathers given better opportunities.
• What were the aims of the Battle for Grain?


  - Boost production of cereal to make Italy self-sufficient in grain.- Reduce trade deficit, freeing Italy from 'slavey of foreign bread.'- Make Italy less dependent on imports when war came.
• What were the policies of the Battle for Grain?

  - Wheat imports fell by 75% from 1925-35.- Cereal production increased from 1922-1939.- Production rose from 5.39 million to 7.27 million from 1925-1935. - Italy became self-sufficient in grain by 1940.