For their part, J. P. Morgan and other bankers “were anxious” that “stabilization should proceed whenever possible and Italy should naturally be [the] next place”— i.e., whatever interventions were necessary to stabilize the currency should be taken (cable of J. P. Morgan to Norman, November 8, 1926, G1/307, fol. 15).

Clara E. Mattei, The Capital Order, loc. 1454