To sum up: The policy of Italy must be inspired first of all by the defence of her own interests, though, at the same time, due note must be taken of considerations and needs of a general order. It is a question whether, by a more exact valuation of the conditions put forward in the Italian Memorandum of London, the grave complications which exist to-day would not have been avoided. At any rate the Italian Government will take careful and speedy measures to avoid any further difficulties and re-establish as soon as possible a release of tension throughout Europe, which might make it possible to face the problem of reparations and debts under other conditions. (The Cabinet at the end express entire approval of the line of foreign policy adopted by the Prime Minister.) THE RUHR, THE CONFERENCE OF LAUSANNE AND THE PORT OF MEMEL Speech delivered at Rome, 1st February 1923, before the Cabinet. _The Prime Minister._ With reference to foreign affairs, the situation, as far as Italy is concerned, cannot be said to have altered much in the interval which has elapsed between the last Cabinet meeting and to-day. The German resistance on economic grounds has provoked aggravation of the measures—both military and political—which are being taken by France and Belgium, but from which Italy, following her previous line of conduct, has kept apart. The complications which were—or could have been—feared, so far have not occurred. Fresh factors have not entered into the close duel which is being fought on the Ruhr. Russia has not altered her attitude as a State, although the dominating party continues to give clamorous verbal demonstrations of solidarity with the German proletariat. The serious disquietude which had been manifested by the Powers of the Little Entente is diminishing. There had been rumours—more or less without foundation and spread, perhaps, with the object of producing complications—of plans for repeating in Hungary what France had done on the Ruhr, which were attributed to one State or another. These have given Italy the opportunity of confirming and clearly establishing her attitude of opposition to any movement which could extend the conflict to other zones or give the opportunity of attacking the validity of the treaties of peace already concluded. The Italian Government has been and is following attentively the coal situation on the Ruhr, above all as regards its reaction on other events. I can say that all internal measures, reduction of the train services, including those from abroad, and contracts for fresh supplies, have been quickly and diligently carried through, because, whatever may happen, no paralysis of our industrial activity or of our communications must result. In connection with the supplies of raw materials, I have the pleasure to announce to the Cabinet that the Italian Government has succeeded in concluding a favourable agreement with the Polish Government for oil.