DATE FOR EMBARGO

Taranaki Daily News, 28 October 1935, Page 5

DATE FOR EMBARGO

FINANCIAL PRESSURE READINESS OF FRANCE PROHIBITION OF EXPORTS DANGERS OF A BLOCKADE By Telegraph—Press Assn.—Copyright. Rec. 8 p.m. London, Oct. 26. A British Treasury order fixes October 29 for the commencement of the financial sanctions. It is expected other world financial centres will adopt the same date, enabling the maximum collective action. An order in council has been also published prohibiting the export of arms and war materials to Italy, also the import of Italian goods after such a date as the Board of Trade may determine. Contravention of the financial sanctions is punishable by imprisonment not exceeding two years and a fine not exceeding £lOO in the case of companies. Officials approving or facilitating contravention are liable to punishment. Exporters contravening the export sanctions are liable to a Customs penalty treble the value of the goods or a fine of £lOO.

The French Government has notified the League of its readiness to apply sanctions against Italian exports of raw materials similar to the British sanctions list, but it required a few additional days to take the necessary steps.

Mr. Stanley Baldwin opened the deration campaign when he broadcast from the Chequers the first of 12 broadcasts from the party' leaders. The Prime Minister emphasised that the Government's main objective was peace throughout the world. He recalled the League’s difficulties in trying a new path which was difficult and even dangerous. He added that the severest sanctions would lead inevitably to a blockade and bring in non-League members. Accordingly he would not agree to Britain entering a blockade unless he knew the attitude of the United States. The brunt of any trouble in the event of the application of a blockade must at first fall on the British Navy, possibly alone if we are unfortunate. MODERNISED NAVY. “Consequently,” said Mr. Baldwin, “we must modernise the Navy, especially, as we possess only thre>n post-war capital ships. The remainder belonged to the time before aerial attack had to be considered. Moreover, many of the cruisers are obsolete.” They did not want huge forces, he added but the best obtainable for the safety of 'their men. He warned his hearers that the opponents would increasingly exaggerate the expenditure and size of armaments, but it would be all guesswork as the questions were still being examined. The strengthening of the defences, which were non-aggressive, would not divert the Government from the programme of improving the conditions of life for the people. He emphasised that the Government had restored confidence, which the Labour policy would destroy. Lancashire is experiencing a minor boom owing to the diversion of cotton spinning orders from Italy. The new Albanian Government at tne meeting of Parliament declared its fidelity to the treaty of alliance with Italy.