EFFICACY OF TRADE BAN

New Zealand Herald, Volume LXXII, Issue 22240, 15 October 1935, Page 9

EFFICACY OF TRADE BAN

ITALY'S NEED OF RAW MATERIALS FEW OF HER EXPORTS ESSENTIAL (Received October 14, 9.35 p.m.) , LONDON. Oct. 14 Few of Italy's exports are essential to the recipients, says tike Financial News, discussing sanctions, except some Italian wines and foods—exports easily obtainable elsewhere. Moreover, even supposing States not participating in sanctions and nonmembers of the League increased their purchases from Italy, they would be able to absorb less than a third of Italy's present exports; thus the loophole would be insufficient to preclude the efficacy of sanctions. Italy's vulnerability in raw material supplies makes the most favoured object for the trial of sanctions, because she relies on overseas sources for her entire supplies of mineral oil, non-ferrous metals, iron ore, cotton and rubber, 95 per cent of her coal and 80 per cent of her wool. The Financial News adds that, although Italy's present gold and foreign credits would be sufficient for 1 5 months without an embargo on her imports, the effectiveness of such a ban is evident in the percentages of her essential imports which are drawn from countries favouring sanctions, namely, wool, iron ore, lead and tin, 100 per cent; manganese ore, 95 per cent; mineral oils, 85 per cent; copper, 70 per cent; iron and steel, 65 per cent; nickel, 60 per cent; timber, 60 per cent.