Monetary policy effects on the real exchange rate are likely to be temporary, but may be of sufficient duration to have a transitional effect on exports and imports.
His political language is also to be remembered: he countered the “madmen of the rally” with words extolling preparation and good administration as features essential to the achievement of desired results. In 1852 he brought about a radical reform of the State’s financial administration and accounts, which would subsequently form the basis of the legislation in this area in unified Italy.