The Ely miner. [volume] (Ely, Minn.) 1895-1986, 1936-02-27

increases. the difficulty becomes appar-
ent. Lastly, some of these substitutes
have TO be mixed with imported petrol,
anyway.
There is plenty of ground for the sup
position that the cry for oil sanctions
has subsidized considerably with the in
dications that Italy is achieving vic
tory far from complete in East Africa.
If such sanctions do come, it is likely
now that they vii not be complete, but
will only apply to shipments over and
above the normal shipments
The member nations are in ticklish
position; of that there can be no doubt
Mussolini has told them in no uncertain
terms he will consider oil sanctions
acts of war, and viii reply with acts
of war. Whether saving Ethiopia and
saving the face of the League will be
worth the risk of fighting an honest
to-goodness war with Italy is poser
that is holding up immediate action
Limit u S. Export.
If the United States does adopt the
kind Of neutrality law advocated by
President Roosevelt and Secretary of
State Hull, the League could then
be assured that Italy would not receive
more than about 100000 tons of oil
annually from American producers.
If American shipments are unlimited,
the League has another card which it
could play, however Most of the oil
tankers in use are owned by British
and Scandinavian interests American
shipments might be materially cut by
denying the United States the use of
these tankers.
Meanwhile. Italy has been adding to
her own feet of tankers. According to
the League transport subcommittee
estimate, Italy now has 81 ships which
total approximately $4,000 tons.
There are tankers In the Italian navy
which might be included. and which
would add another 10000 tons. It has
been estimated that Italy might herself
be able to transport some 100000 tons
annually from ports on the Gulf of
Mexico.
Undoubtedly, If sanctions on oil are
declared, the League would declare a
prohibition on the sale of tankers TO
Italy. thus preventing her from build
ing up her tank feet any more than
she has already done Also, it is prob
able that the League would forbid the
movement of tankers sailing to Italian
ports To accomplish this and to pre-
vent the shipment of oil in containers
carried by other types of vessels, it
would probably be necessary TO de-
clare naval blockades. This is too
much like war, and the League is ex-
ceedingly wary about invoking the
blockade.
There is little likelihood that new
| tankers would be purchased by Amer
| lean interests to carry on a wartime
trade with Italy. The policy of the
administration is too clear against aid
ing a nation at war at any time.
The usual amount of RECOMMENDATION
of a people under a dictatorship has
multiplied many times since the 53
nations declared economic sanctions
] on Italy.
The government has declared i'm
A
| port monopolies on hundreds of items.
from meat and fish to things like NOV
| ing picture films. To protect the gold
reserve the National Institute for For
eign Exchange was authorized to con-
troll all transactions involving the
| precious metal. Citizens or corpora
| tons may not sell or exchange gold
until they have offered it TO the gov
eminent, which agrees TO return il in
the same amount and quality within d
year, with interest at per cent
| Royalty Sets Example.
| Italy's king and queen set an ex-
ample by sending their wedding rings
10 Mussolini and the populaee quickly
| took up the idea. thousands upon thou
sands of persons turning over their
own gold rings and receiving iron rings
in exchange, in colorful and. indeed.
pitiful ceremonies throughout the coun-
try.
After the depletion of the gold re-
serve TO point somewhat under $780,
! 100000. the Treasury department has