WORLD FINANCES

Evening Post, Volume CXVII, Issue 106, 7 May 1934, Page 9

WORLD FINANCES

JAPAN NOW A FACTOR

PEACE WITH THE LEADERS

WASHINGTON, April 26,

Japan's huge trade gains have given her a new ranking in currency con-, siderations. J,Many officials in Washington aye now convinced that.boforo world -cuiToncy..-stabilisation, can., bo attained Japan must be included in any agreement.

.; The so-called "Big Throe?' of world finance—Britain,: France, and the United States—must; it is held, open their ranks to Japan, making a-"Big Four" leadership hack- to stability.* The importance of Japan in this respect was first publicly discussed in Washington by M. Frederick' H. F. van Vlissengen, Dutch textile magnate and president of the International Chamber of Commerce, who has just 'returned to Europe. He had visited Washington to '■ cjmfer with the Secretary of State (Mr. Cordell Hull) and the Secretary of Commerce (Mrr Daniel C. Itoper).... ~-. ■~.... ... ..-,. ..

M: van Vlissengen suggested that lowering tariffs and other trade barriers was one way of breaking the vicious circle of growing trade strangulation, but that an easier way to break it was by stabilisation of currencies. Four Powors, instead of 20 or 30, could effect tho stabilisaion. -

The speaker said he added Japan to tho "Big .Three" because "her rapidly expanding exports in depreciated yen causes new competition with many other nations." Many other leading pxperts in Washington have said they agreed -with him.