Reduced Rents

Signor Benito Mussolini's Cabinet passed a series of decrees last week compelling all Italian landlords to reduce rents on their properties by July 1, 1927, thus:

1) 15% on apartments of not more than five rooms;

2) 10% on apartments of more than five rooms and less than nine rooms;

3) 20% on the premise's of shops selling "foodstuffs and household necessities";

4) 10% on stores in which "luxury merchandise" is sold.

Significance. When Signor Mussolini became Premier, five years ago, he found building at a standstill, due to the restrictions imposed by previous regimes upon landlords. The Fascist regime immediately removed these restrictions, and building has progressed rapidly in consequence. Now Premier Mussolini's new restrictions, supplementing others of a less drastic character (TIME, May 2), tend to pinch the very landlords who responded to his earlier appeals for rapid building. Did Il Duce, then, trick as well as pinch Italian landlords last week? Those who thought that he did not, declared that, by raising and stabilizing the gold value of the lira (TIME, Sept. 13), Signor Mussolini has made the new (lower) rentals which must be accepted by landlords worth as much (in gold) as the rentals they have been allowed to charge thus far.