New York, July 27.
Considerable interest in' the exlension of the licensing system to oil Jand scrap iron exports is indicated by United States wireless comment alors.
All agree that the step constitutes a virtual embargo on such exports to Japan and Spain.
The well-known commentator, Mr. Raymond Gram Swing. points out that President Roosevelt has avoided any criticism or outright hostility to Japan. thereby relieving Japan of any necessity for "face-saving." but declares that the effect is the same since the embargo weakens Japan's The step, he adds, is not of direct assistance to Ching, but shows an entirely new spirit in United States foreign policy.
In connection with reports that Spain has been importing oil to pass fon to Germany or Moly, Mr, Swing slates that Rumania would not solve Herr Hitler's oil problem or make up for the loss of Russian supplies. He asserts that Germany has not hough oil to carry on the war very Jong at full blast, and that Germany's foil reserves are believed to be steadily sinking.
Text read from the printed page and cleaned; old type leaves the occasional error.