Fascism is a political movement, and therefore it's a combination of both action and thought.  Of course, to understand it, we must look at the thought behind the action.  Mussolini (or whoever wrote the article) tells us several things:

• Fascism is a historically determined theory (system of thought) arising out of a specific historical situation.  In other words, fascism is the historical result of the economic, political and cultural developments of the 1800's and early 1900's.
• Fascism emphasizes the will in the sense of molding oneself and one's destiny to fit the values belonging to the core culture of one's people. Hence, the importance of education as the transmitter of culture and of work as the molder of reality. The people are not a race, nor are they necessarily individuated geographically: rather, they share a common culture and a common political will.  So, at least in 1932, fascism is not a racist doctrine: it is culture, not genes (Hitler's "das blut") that makes one a fascist.  The people are carriers of culture, not of genes.  In this respect, while nazism looks at the past (the Aryan blood heritage), fascism also looks at the future as culture changes and develops, as it must in order to live.
• Each culture, each people, each state contributes to human history by making its will and its values felt on the basis of specific historical circumstances.  So, in a period of war, the will of the people (or its political embodiment, the state) will manifest itself militarily;  at other times it will manifest itself in peaceful activities (art, economy, religion, etc.)
• Fascism approaches life 'spiritually" in two related senses:
1. it rejects the idea that we are by nature individuals moved only by the satisfaction of individual pleasures. On the contrary we are what we are by culture.  What's valuable in me is not my possessions, the satisfaction of my desire for pleasure, or even my own life, but the values, the mores, the culture that make me what I am.
2. it identifies the individual in the proper sense of the term with the state, the political manifestation of the will of an ethnic group with its own culture, values, tradition, mores, art, etc. This is because individuals conceived independently of their culture are but an abstraction: without one's culture, one is nothing.  Hence the need to sacrifice ourselves for the state, which is the historical embodiment of the values and ideas that make us what we are and gives us value.  Hence, fascism is totalitarian because the fascist state embodies all the values that characterize the people. It must penetrate both the will and the understanding of the individual: it is "the soul of the soul."
• The will of a people is to be determined qualitatively, not quantitatively. So, the will of one person may embody the "correct" values of a people more than the will of the majority.  For example, suppose we buy into the rhetorical claims about the US being the land of freedom, and consider a period, say the 1830's in which the majority of citizens did not abhor slavery.  Suppose now one individual (I mean one!) who took it upon itself to protest this, marched (alone!) in front of the White House, petitioned congress, etc. to abolish slavery.  Who embodied the true ideals of the US , the majority or that lone demonstrator?  The answer, of course, is that the demonstrator did.  So, fascism rejects democracy as a procedure to determine what the state should do.