ECONOMIC MEASURES

Taranaki Daily News, 17 October 1935, Page 5

ECONOMIC MEASURES

GENEVA MAKES PROGRESS SANCTIONS SACRIFICES LIGHTENING OF BURDEN Geneva, Oct. 15. The sub-committee for the organisation of mutual support between the States in regard to financial and economic measures against Italy under Article 16 consists of Spain, France, Greece, Poland, Rumania, Britain, South Africa, Russia and Yugoslavia. Senor Cantos (Spain) will preside. The sub-committee’s object is to find means for lightening the burden of sacrifices made by certain countries in applying sanctions. The League secretariat is preparing statistics of Italy’s foreign trade, according to classes of commodities, to be in readiness for the next meeting of the sub-committee. Senor Cantos explained that there was no idea that certain countries should obtain compensation for sacrifices they have to make nor that others should give such compensation. “We are all called on to make sacrifices for the restoration of peace,” he said. “Peace is well worth sacrifices. It demands less sacrifice than war, but in accordance with paragraph three of Article 16 we must have an agreement to minimise loss and inconvenience.” A British Official Wireless message says that the financial measures against Italy which have been appoved by the co-ordinating committee will have effect from to-day, subject to necessary action by the Governments concerned. Meanwhile the provisional embargo on certain key imports for Italy may be imposed immediately. A committee of jurists is at work considering constitutional and legal difficulties which might arise in the application of collective measures. These questions include that raised by the Argentina delegate. There is a general expectation at Geneva that the work of the various subcommittees will be sufficiently advanced to be brought before a- meeting of the full co-ordinating committee, which consists of one representative of each State member, on Saturday. NO RELIEF FOR ITALY GENEVA RESERVATIONS WORK OF COMMITTEES (British Official Wireless.) Rec. 5.5 p.m. Rugby, Oct. 15. The reservations made by the Hungar-. ian and Austrian delegates at Geneva with regard to the application of the financial proposals constituting a refusal of credits to Italy will offer no relief to Italy as those countries are debtor and not creditor States. Members of the League agree under Article 16 of the Covenant that they will mutually support one another in the financial and economic measures in order to minimise the loss and inconvenience which may result. They will also mutually support one another in resisting any special measure aimed at one of them by a Covenant-breaking State. The sub-committee for mutual assistance is examining the possibility of oppning new markets in favour of countries suffering the loss of exports through the trade embargo against Italy. The economic sub-committee is considering the imposition of an embargo on exports to Italy of key products, also the refusal by League Powers to receive exports from Italy. The position of countries which have declared themselves unable to fully discharge their obligations in collaboration with their fellow League members is also being considered. One suggestion, according to Press messages, is that exports of key products to these countries might be restricted to their own actual needs so as to leave no room for reexports to Italy. The Prime Minister (Mr. Stanley Baldwin), accompanied by the Undersecretary for Foreign Affairs, received to-day two small deputations from Conservative members of both Houses, one brought by Mr. L. C. M. S. Amery and the other representing the Imperial Policy group. The purpose of their visit was to put before Mr. Baldwin their views on foreign policy, with special reference to the Italo-Abyssinian dispute and its treatment at Geneva. Mr. Amery has in recent speeches given voice to some misgivings regarding recent developments in the international situation, and it is assumed he explained his doubts at the interview today. He is also expected to speak in the debate on foreign affairs when. the House reassembles on October 22.