Chapter IX. The owners of fascists Italy

The policy of Italian fascism, although in fact of any fascism, is always determined by the interests of the oligarchs, whose interests, in the case of Italy, were called state, national interests. In the 15 years of fascist rule, Italian share capital has more than doubled. However, this table is as meaningful as phrase “Average human have one breast and one testicle”. In reality, small and medium-sized businesses did not receive much. Basically, all the benefits for them from the fascist regime came down as a protection from the communists and the socialist revolution. Most of the production went to the country's largest entrepreneurs - the oligarchs of industrial and banking capital. These included:

Chemical concern Montecatini. It controlled the production of chemical fertilizers, pharmaceuticals, oil hydrogenation, dyes, explosives, aluminum, bauxite, and so on and so forth. In 1925, Montecatini's share capital was 500 million lire, in 1934 - 600 million, in 1939 - 1.3 billion, and, finally, during the Second World War, the capital of the company grew to 2 billion lire.

Interestingly, this industrial concern was one of the main supporters of fascism before it came to power. Montecatini's love for terrorists is explained in an extremely banal way. After the First World War, the concern, like many others, was on the verge of bankruptcy. To prevent this, in 1920 it was decided to rely on the agricultural sector. The entire future of Montecatini was put on the modernization of the production of chemical fertilizers. A fairly decent amount of 100 million lire was allocated for this business. It is not hard to guess how Italian chemists reacted to the “red biennium”. The company's board fully approved and supported the actions of the fascists in the village. Maximum terror, maximum blood.

Edison Electric Company. In addition to electricity, this company was engaged in the construction of electric railways and tram lines, the gas industry, mechanical engineering and industrial equipment, real estate, after all. In 1921, the capital of the company was 180 million, in 1938 - 1.6 billion, and by the end of

 

 

World War II - 2.6 billion. Edison's firm exists to this day, in 1966 the company ingested Montecatini.

Firm Pirelli. Monopoly of the Italian rubber industry, which also controlled various companies in the electrical, telephone, construction, metallurgical and chemical industries. The share capital in 1938 was 300 million. In 1940 it was 400 million. Today it belongs to the Chinese.

Acciai Speciali Terni – the Italian Krupp. The company's capitalization doubled in 1939-1940. Since 1994 Terni has been controlled by the German ThyssenKrupp.

Fiat company. Today it is part of the Fiat Chrysler Automobiles holding. In those years, Fiat was behind not only the production of cars, but also aircraft, engines for ships, weapons, electrical equipment, etc. There is no information on capitalization, but there is a table of profits for the five-year struggle for autarchy. In 1934 the company earned 24 million lire, in 1939 - 43.5 million.

Moreover, for the same period:

- Montecatini double growth in profits;

- the Edison firm, it could be assumed, remained with its own, but this is only an appearance. In 1939 the company was split into two legal entities. According to information from other sources, the total profit of the Edison firm in 1940 was 260 million lire;

- Pirelli's company - a twofold increase in profits;

- the concrete monster Italcementi - also double growth;

- however, gunsmiths from Terni failed to double their profits;

- on the other hand, someone managed to achieve a threefold increase in profits and even fivefold.

All these super-profits are the result of the autarkic policy of fascism.

While every year an increasing number of small joint-stock companies were closing their balance sheet with deficits, for large companies the results of fascist policies were expressed in the fact that their declared profits increased continuously and the faster, the bigger their capital was.

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The aforementioned companies, as well as many other joint-stock companies, were, in fact, in the hands of a small handful of oligarchs, who, in fact, were the real masters of fascist Italy. Some of these people are:

Giuseppe Volpi. Managing director of almost 40 companies, including an Banca Commerciale Italiana, as well as a number of large electrical, insurance, shipping, iron and engineering companies. An exemplary owner of factories, newspapers, ships. Member of the Grand Fascist Council - the highest body of political power in the country. In 1925-1928. finance minister of fascist Italy. President of Confindustria from 1934-1943

Guido Donegani. General director of the Montecatini chemical concern in 1910-1945, business partner of I.G. Farben. Co-owner of the Banca Commerciale Italiana, Southern Electric Company, aluminum companies and so on. Donegani was one of the earliest and most ardent supporters of fascism. A couple of years after the heroic fascist revolution, Donegani declared:

When the Blackshirts arrived in Rome in October 1922, we, industrialists, rejoiced and welcomed the government of Benito Mussolini, which had restored the state and its laws to full power.

Alberto Pirelli. In addition to his company, Pirelli was involved in the management of such giants as Edison and Montecatini, and also controlled several electrical, telephone, mining, insurance and rail companies. Alberto Pirelli was a supporter of Italy's participation in the First World War, as well as one of the first investors in fascism. Under Mussolini, he combined politics and business.

Giacinto Motta. Chairman of the Edison Company and leader of many other electrical, rail, financial and other societies. One of the leaders of the bank Credito Italiano. In 1929-1934. businessman Motta was a member of the fascist parliament, and since 1939 a member of the legislative chamber of fasces and corporations.

Giovanni Agnelli. Founder of Fiat, co-owner of Credito Italiano bank and a number of other joint-stock and financial companies, owner of Juventus football club. Under the Nazis, he was appointed as a lifelong senator in the upper house of parliament.

Vittorio Cini. One of the owners of the Ilva steel plant, as well as a number of shippings, insurance, credit and electric companies. Senator of the upper house of parliament since 1934. Minister of Communications of Fascist Italy in 1943.

 

Now we need to return to the Institute of Industrial Reconstruction (IIR). This government office was also controlled by the Italian oligarchs. Until the end of 1939, the IIR was headed by the chairman of the Southern Railways Society, a member of the administrative council of Montecatini, Edison and other companies – Alberto Beneduce. In addition to Beneduce, representatives of the same major concerns were in sessions at the governing bodies of the IIR: Montecatini, Edison, Terni, Ilva, Ansaldo, Breda, and so on.

In 1939, the President of the Italian Commercial Bank writes:

In our time, when every day it is discussed about the need to be closer to the people, a financial oligarchy is being created, which resembles medieval feudalism in the field of industry. Most of the production is controlled by several teams, led by one person. Agnelli, Cini, Volpi, Pirelli, Donegani, Falk and a few others, who literally dominate various industries. In Italy we have over ten thousand anonymous companies engaged in production activities, which represent a nominal capital of forty billion: of these 32 are grouped in just 500 companies, that is, four-fifths of the capital is owned by five percent of the anonymous companies; and even in this humble faction, the same names circulate all the time.

But if it was only about industry and banks, there would be a similar picture in politics. After the war, the Italian General Confederation of Labor conducted a study on the structure of Italian monopolies during the Fascist era. This is what they wrote as a result of their research:

Of the 400 deputies elected in 1929, 175 held paid posts on the administrative boards of large joint stock companies. The meaning of this will become even clearer if we consider that one deputy collaborated in 43 joint-stock companies, one in 33, one in 28, two in 26, one in 23, one in 20, one in 19, three in at 18.

In 1940-1941, the connections became even more numerous and deeper. It can be argued that there was no significant joint-stock company or group of companies that did not have one or two representatives of political power on their content.

Italian oligarchs are the economic and political masters of fascist Italy.