ETHIOPIA'S FUNDS

New Zealand Herald, Volume LXXII, Issue 22256, 2 November 1935, Page 13

ETHIOPIA'S FUNDS

MILLIONS AVAILABLE EMPEROR'S ENTIRE FORTUNE LONDON. Oct. 31 The Sun-Herald news service says that Ethiopia is not impoverished, according to correspondents, including Mr. Stuart Enemy, who, writing in the News Chronicle, states that at least £50,000,000 is available for arms and ammunition.

Most of this money was shipped in silver and gold to European and American banks. The EmperOr Haili Selassie's entire fortune, estimated at £30,000,000, which lie inherited from his father, has been placed at the disposal of the Government. SOUTH AFRICA ACTS WAR MATERIAL EMBARGO Times Cable LONDON, Oct. 31 Tho Pretoria correspondent of the Times says a proclamation has been issued placing an embargo on tho export of all war material to Italy and prohibiting the transit through South Africa of any such material. Financial transactions • with the Italian Government or its subjects are also forbidden. Contravention of these orders will be punishable by a fine not exceeding £IOOO or imprisonment not exceeding one year, or' both. ACTION BY NEW ZEALAND APPLICATION OF SANCTIONS [BY TELEGRAPH —I'RESS ASSOCIATION] CHRISTCHURCH. Friday, "It is our intention to carry out whatever decision is come to by the Council of the League of Nations," said the Prime Minister, Mr. Forbes, 'when'explaining the enforcement of the arms and financial sanctions against Italy by the Dominion in the opening address of his election campaign at Hanmer this evening. Mr. .Forbes told the large audience that already sanctions 1 and 2, dealing respectively with the supply and export of arms and finance, had been enforced by the Dominion through an Order-in-Council. The League had asked that they should be put in operation forthwith. Sanction 3, prohibiting the import of Italian goods, .and sanction 4, prohibiting the export of key products to Italy, were being considered by the Council of tho League, and tho Now ifcaland Government expected to receive its decision in a few days. x

Mr. Forbes explained the Dominion's obligations under tho Covenant of the League. "Wo all know the dreadful effects of war, and everything should bo done to prevent the horrors of war coming to us again," Mr. Forbes said. New Zealand, by signing the Covenant, had thus expressed her desire for the maintenance of peace through the League. The challenge by Italy could not oe allowed to go by. Unless the League had acted, people could have said good-bye to it, and every country would have started arming to the teeth. He felt that in carrying out her obligations under the League New Zealand would bo doing something toward securing peace. When asked whether Parliament, if the timo came, would send men overseas to meet any development in the Italoi-Abyssinian situation, Mr. Forbes was emphatic that at present there was not tho slightest likelihood of the necessity arising.. "But I am certain," he said, "that if tho necessity arose to send men away thero would be so many volunteers offering in the country for any likely servico that their numbers would provide all the men we would want. I don't think that at the present time there is the slightest chance of New Zealand being involved in the war or taking any further action than that provided under the sanctions proposals."