Borgoni: National Loan 1917.


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Mario Borgoni National Loan 1917. Drama on the Izono front illustrated by an Italian swordsman rescuing the battered Italian flag  in a lethal tug of war.  Italy began World War I as a neutral but declared war on Austria-Hungary in 1915 hoping to annex the South Tyrol  and Izono River. 39×28 near mint, conservation backed.