The figures for Italy are as follows:
Excess of Monthly Imports Exports Imports Average $1,000 $1,000 $1,000
1913 60,760 41,860 18,900 1914 48,720 36,840 11,880 1918 235,025 41,390 193,635 Jan.-Mar. 1919 229,240 38,685 191,155 Apr.-June 1919 331,035 69,250 261,785 July-Aug. 1919 223,535 84,515 139,020
 In the last two returns of the Bank of France available as I write (Oct. 2 and 9, 1919) the increases in the note issue on the week amounted to $93,750,000 and $94,125,000 respectively.
 On October 3, 1919, M. Bilinski made his financial statement to the Polish Diet. He estimated his expenditure for the next nine months at rather more than double his expenditure for the past nine months, and while during the first period his revenue had amounted to one-fifth of his expenditure, for the coming months he was budgeting for receipts equal to one-eighth of his outgoings. The Times correspondent at Warsaw reported that “in general M. Bilinski’s tone was optimistic and appeared to satisfy his audience.”
 The terms of the Peace Treaty imposed on the Austrian Republic bear no relation to the real facts of that State’s desperate situation. The Arbeiter Zeitung of Vienna on June 4, 1919, commented on them as follows: “Never has the substance of a treaty of peace so grossly betrayed the intentions which were said to have guided its construction as is the case with this Treaty ... in which every provision is permeated with ruthlessness and pitilessness, in which no breath of human sympathy can be detected, which flies in the face of everything which binds man to man, which is a crime against humanity itself, against a suffering and tortured people.” I am acquainted in detail with the Austrian Treaty and I was present when some of its terms were being drafted, but I do not find it easy to rebut the justice of this outburst.
 For months past the reports of the health conditions in the Central Empires have been of such a character that the imagination is dulled, and one almost seems guilty of sentimentality in quoting them. But their general veracity is not disputed, and I quote the three following, that the reader may not be unmindful of them: “In the last years of the war, in Austria alone at least 35,000 people died of tuberculosis, in Vienna alone 12,000. Today we have to reckon with a number of at least 350,000 to 400,000 people who require treatment for tuberculosis.... As the result of malnutrition a bloodless generation is growing up with undeveloped muscles, undeveloped joints, and undeveloped brain” (Neue Freie Presse, May 31, 1919). The Commission of Doctors appointed by the Medical Faculties of Holland, Sweden, and Norway to examine the conditions in Germany reported as follows in the Swedish Press in April, 1919: “Tuberculosis,