Show League General Staff Scans Financial Penalty GENEVA Oct 14 UP The he I league of nations' nations sanctions committee committee committee com com- of 18 today accepted a proposal proposal pro pro- by Captain Anthony Eden of Great Britain to make October 31 the time limit for lor various governments governments governments govern govern- ments to ratify the leagues league's financial financial financial finan finan- cial and economic penalties against Italy Edens Eden's proposal was made after Argentina and other Latin Ameri can nations had indicated the proposed proposed proposed pro pro- posed sanctions would require endorsement endorsement en en- of their parliaments some same of which are in recess so that several months might be required for ratification Eden suggested that all states able to apply economic sanctions immediately do so while those encountering encountering encountering en en- countering constitutional difficulties difficulties difficulties ties try to apply them by October 31 or notify the league on what date they could Six drastic financial penalties against Italy aimed at the rupture of financial and credit relations by byall byall byall all members of the League of Nations Nations Nations Na Na- were adopted by the general staff of the league penalties committee com com- toda today The They are arc to be followed according according accord- accord ing ng to plan by a severe trade boycott boycott boycott boy boy- I cott designed to cripple if not paralyze paralyze para- para Italy's exports and imports as the next step in the leagues league's work of punishing Ital Italy for tor its war on Ethiopia Thus the Immediate plan is in three steps Step one an arms embargo embargo embargo em em- bargo has been voted The general staff adopted step two today Next come step three the trade boy boy- cott A resolution outlining the credit blockade lockade of at Italy was drafted for submission to the entire penalties committee of the league the big committee of 52 nations The general staff committee of 18 agreed to meet again to begin at once to prepare economic sanctions sanctions sanc sane including the interruption of exports from Italy and the stoppage of shipments to Hal Italy of numerous key products Seven penalties were recommended recommend recommend- ed to the general staff by its financial financial finan inan- cial subcommittee These were re revised revised revised re- re and consolidated into a preamble preamble preamble pre pre- amble and five specific points They were reported on an reliable authority to be as follows fallows Preamble Prohibitions adopted are to apply not only against Italian government and persons and corporations corporations corporations cor cor- on Italian soil but also against third countries or persons or corporations In third countries acting as intermediaries for Italy 1 Prohibition of loans to the Italian government and subscriptions subscriptions to loans floated by the Italian government 2 Prohibition of or bank credits to the Italian government 3 Prohibition of loans to Italian Halian public institutions corporate bodies or persons and prohibition of subscriptions subscriptions subscriptions sub sub- to loans floated by the classes of oC persons and companies named 4 Prohibition of oC the emission of shares to persons or corporate bodies bodies bod bod- ies on Italian soil 5 Prohibition of all bank or other credits to private persons or corporate bodies on Italian soil or any continuance of execution of existing ex ex- sting credit contracts League men believe if everything goes according to plan the they are arc going going going go go- ing eventually to force Premier Bonito Benito Mussolini to abandon his AfrIcan African Af Al- rican campaign |