JAPANESE TRADE OUTLOOK

Dominion, Volume 13, Issue 276, 16 August 1920, Page 5

JAPANESE TRADE OUTLOOK

DEVELOPMENT OF FOREIGN

COMMERCE

CURRENCY SYSTEM REMAINS STABLE

By Telegraph-Press Assooiation-Oopyrighl (Rec. August 16, 5.5 p.m.) , r T _ Tokio, August 14. Mr. Inouye, Governor of the Bank of Japan, m an interview, said that the live yeara of war witnessed a great change 111 tho financial and economic situation of Japan, primarily in tho re-m-arkable development of foreign commere©, Tho increase of iior specie reserves resulted in an expansion of bank note circulation, which naturally conti*u)ute<t to the enhancement of industrial and business activities. .Imports and exports increased to tlireo times what they were before the war. But foreign commerce in the near future would probably show a decrease in imports and exports, although imports would still continue high, and possibly would exceed exports for Mjme years. Japan's merchant marine tonnage was three million tons. The preponderance of imports over exports in the future constituted a menace to Japan. "Our pre-war foreign Investments were negligible," he said. "They now total about 2200 million yen. It is, therefore, inconceivable that Japaneso business men will be faced with tho necessity of vaising money to meet an unfavourable balance of trade, or that our specie reserves will suffer too heavy a drain. Japan's currency system wilt Ije quite as stable as ever."—Aus.-N.Z. Cable Assn. FOREIGN AFFAIRS .CAUSE CONCERN. (Reo. August 16, 0.50 a.m.) Tokio, August 15. Japan is expected soon to call a national mass meeting of its citizens to obtain their views on foreign affairs, owing to the increasing gravity of tho international situation. Tho Japaneso Press' considers that the Chinese Cabinet is decidedly pro-American and antiJapanese in sentiment. Cablo Assn.