CONTROL OF IMPORTS

Taranaki Daily News, 22 February 1935, Page 14

CONTROL OF IMPORTS

ITALY’S ADDITIONAL MEASURES. MAINTENANCE OF THE EXCHANGE. By Telegraph— Press Assn.—Copyright. Rome, February 20. Supplementing measures to maintain exchange, the Government has issued a decree controlling imports.' The goods affected are not specified at present, but it is understood that the decree covers a large number of imports, including wool, cotton and goods not strictly necessary. It also foreshadows trade agreements. On December 8, the Italian Government issued a drastic decree demanding that all Italian residents in Italy must surrender within 10 days all credits held abroad, for which they would be compensated in lire. There were severe penalties for those who did not comply, including the possibility of imprisonment, transportation and fine. The decree also empowered the Foreign Exchange Institute to use the credits of Italian banks and individuals abroad, which must also be surrendered in exchange for lire, so that Italy might make payments to foreign countries. SUBSTITUTES TO BE FOUND. GOODS HITHERTO IMPORTED. Rec. 12.10 p.m. London, Feb. 20. The News Chronicle’s Rome correspondent says it is asserted that substitutes will be found for goods hitherto imported into Italy. Foreign finished products will practically be banned. Italy’s future policy will be one of barter agreements with individual countries.