EFFECT ON BRITAIN.

Manawatu Standard, Volume LV, Issue 302, 19 November 1935, Page 7

EFFECT ON BRITAIN.

LOSS OF IMPORT TRADE.

EGYPT AND ARGENTINA CO-OPERATE. Received Nov. 19, 11.35 a.m. RUGBY, Nov. 18. The economic sanctions imposed on Italy by the League of Nations, and agreed to by 50 States, will take effect to-day. Trade between Britain and Italy is thus virtually suspended. During the past ten months the imports into Britain from Italy and her colonies have represented a value ol £6,000,000. Lemons and cheese accounted for nearly £1,000,000 of this total and, although most of the imports were natural products of Italy —fruit, wine, nuts, olive oil, marble, etc. —certain manufactured or semimanufactured articles were also included, notably’ leather gloves, oi which the value in the current year was £373,687. All imports from Italy are now discontinued, and exports from Britain to Italy of certain metals and key products are also suspended in accordance with the sanctions order. To-day was the day appointed by tile League of Nations for the inauguration of concerted economic pressure by the League States in favour of peace in the Italo-Ethiopian war. The fifty or more State engaged in fulfilling tlieir obligations under Article 16 of the Covenant are now putting into execution the proposals of the League s Co-ordination Committee. A certain number of States who had been prevented from an earlier application of the other proposals, such ns the financial embargo, have brought them into force simultaneously. Of the States who are non-members of the League, Egypt has informed the League Powers that she is associating herself with their action, while the measures taken by the German and United States Governments in virtue of their neutrality will go some way to facilitate the action of the member States. A Geneva Press message state that Argentina lias notified the Secretariat that she is extending the proliibition of the export of key products to oil, coal, iron, and steel, and at Geneva the decision is considered highly significant as initiative which may lead to a general movement among the League States to limit the export especially of oil to Italy. , Orders issued in the last few days by the Treasury in connection with economic sanctions provide for the payment to the newly-appointed controller of Anglo-Italian debts of sums duo to Italian exporters which are covered by the Order-in-Council of November 9. With regard to the latter provision, the German Government has made representations against the requirement of certificates of origin for goods coming from Germany, which it alleges is contrary to the Anglo-German commercial treaty. The British Government does not accept this view, but it is understood that it has agreed to suspend the order in respect of Germany exports pending further discussions between the two Governments.