Banking in a country undergoing so rapid and vigorous an economic development as Italy is very different from the banking we simple English know of at home. Banking in England, like land-owning, has hitherto been a sort of hold up. There were always borrowers, there were always tenants, and all that had to be done was to refuse, obstruct, delay and worry the helpless borrower or would-be tenant until the maximum of security and profit was obtained. I have never borrowed but I have built, and I know something of the extreme hauteur of property of England towards a man who wants to do anything with land, and with money I gather the case is just the same. But in Italy, which already possessed a sunny prosperity of its own upon mediaeval lines, the banker has had to be suggestive and persuasive, sympathetic and helpful. These are unaccustomed attitudes for British capital. The field has been far more attractive to the German banker, who is less of a proudly impassive usurer and more of a partner, who demands less than absolute security because he investigates more industriously and intelligently. This great bank, the Banca Commerciale Italiana, is a bank of the German type: to begin with, it was certainly dominated by German directors; it was a bank of stimulation, and its activities interweave now into the whole fabric of Italian commercial life. But it has already liberated itself from German influence, and the bulk of its capital is Italian. Nevertheless I found discussion ranging about firstly what the Banca Commerciale essentially _was_, secondly what it might _become_, thirdly what it might _do_, and fourthly what, if anything, had to be done to it.