Baron Sonnino had to take into account not only the unsteadiness of the ground on which the Government stood, owing to these parliamentary regroupings, but the general effects that would ensue from the country's financial position. When, in spite of the victory and the approach of peace, the exchange price of the lira dropped 2 to 3 points towards the end of November, this may have had, contrary to what was thought by many, no connection with a revolutionary movement. The fact that in Triest the authorities had been obliged to isolate Italian ex-prisoners on their return from Russia, since they were imbued with revolutionary principles, at any rate were uttering loud revolutionary cries, may have been the mere temporary infection caught from their environment. But that of which there was no doubt was the entire truth of Caroti's statement when that deputy declared at Milan that while Italy had been triumphant in the military sphere, she had been economically overthrown. Bankruptcy had not been announced, though it existed. Sonnino may therefore have been impelled not only by imperialism, by his inability to adjust himself to the new international situation, but by the hope that through his policy the new internal situation might be tided over. If the thoughts of his fellow-countrymen could be directed elsewhere than to bankruptcy and possible revolution, it might be that in the meantime adroit measures and good luck would brush away these disagreeable phenomena. And he would then be rightly looked upon as one who had deserved well of his country. So he set about the task with such a thoroughness that he turned not alone the thoughts of men, but their heads. Professor Italo Giglioli addressed a letter to _The New Europe_ in which he said that he was claiming now not the territories given by the Treaty of London, but considerably more. He wanted all Dalmatia, down to Kotor. In foreign hands, he said, Dalmatia would be an eternal danger, and besides: "What in Dalmatia is not Italian is barbaric!" It was a melancholy spectacle to see a man of Giglioli's reputation saying that Dubrovnik, the refuge of Slav culture in the age of darkness and the place in which Slav literature so gloriously arose, was, forsooth, throughout its history always Italian in culture and in literature. "Among thinking people in Italy," proclaims the Professor, "there are indeed but few who will abandon to the Balkan processes a region and a people which have always been possessed by Italian culture and which constitute the necessary wall of Italy and Western Europe against the inroads of the half-barbaric East." He protests that it is ridiculous of _The New Europe_ to assert that the secret Treaty of London is supported by a tiny, discredited band of Italians; and indeed that Review has regretfully to acknowledge that many of his countrymen have been swept off their feet and carried onward in the gale of popular enthusiasm.