LONG HOSTILITIES.

Ashburton Guardian, Volume 60, Issue 104, 12 February 1940, Page 8

LONG HOSTILITIES.

ITALIAN OPINION OF THE WAR. GERMANY’S' • RESISTANCE. ' LONDON, January 23. “The policy openly voiced by Mussolini does not put Italy outside the Avar,” states Signor Gayda, who is regarded as Signor Mussolini’s mouthpiece. In’an article in the “Sunday Dispatch,” Signor Gayda says that Italy hopes the extension of the w r ar will be unnecessary, but if Communism advances too far Fascism will know how to reply. Signor Gayda’s article explains Italy’s intentions at length. “We think the war probably will be long, uncertain and exhausting,”'he writes, “but so far the belligerents have not commenced an implacable' destructive air Avar because they fear reprisals.

“Tlie democracies, because their men are less abundant than money, intend to conduct the Avar on an economic and political basis. Thus, they expect auctory by a static siege of Germany Avhich gradually Avould ho exhausted by consumption of resources uncompensated by ncAV supplies.

“The democracies must oalculate on Germany’s capacity for lengthy resistance, because resistance cannot be measured by statistics, as Avas shoAvn in the fatal sanctions warfare against Italy. Furthermore, , Germany at present Has not only abundant spirits, but has accumulated vast stocks of iron, copper, rubber and cotton. “In addition, Germany has great cash reserves consisting, firstly, of gold currencies accumulated during the mark crisis, Avhen, profiting by ivorld-wide speculation, she changed her own worthless money for gold and goldshacked currency; secondly, United States'commercial credits; thirdly, favourable trade balances OA r er years; and, fourthly, the transfer to the Reichsbank of Austria’s and Czechoslovakia’s abundant bank reserves. Signor Gayda continues: “Static Avar permits Germany to save Avar materials and increase munition production, hut there is no doubt that Germany’s resistance might he worn out in the long run.

“Similarly this method of Avar might seriously, and even irreparably, damage the Allies. Therefore, the Avar, from my Italian ‘viewpoint, is uncertain. “Wo hope an extension of the Avar will he unnecessary. Russia’s advance toward the Danube, plus the pressure on the Balkans., brings new problems. Italy intends to prevent the expansion of Communism which, if it advances toAvard Italy’s and Europe’s vital zones, will discover that Fascism knows lioav to reply.”