BRITISH & FOREIGN NEWS
CUV TELEGIIAni- -PEIt- PRESS association’. JAPAN’S CRISIS. TOKIO, April 23. The Minister of Finance announce: that there will be no further artificia support Of the yen; no further ship ments of gold, and no lifting of tin gold embargo. The situation is unchanged, except that it is passing from the hysterical stage to a bitter realisation of new conditions for everyone, and of tin stupendousness of the undertaking with which the Administration is faced . The newspapers frankly assert thai the situation is most dangerous, and that the crisis has not yet been reached unless the entire country has been brought to a realisation that permanent conservative building upon pre-war foundations must commence at once. They say that the process of reconstruction will he a matter of twelve or fifteen years. The consequences of the upheaval show the closing of twenty-nine hanks, with total deposits of eight thousand million yen. The exchange situation is not serious, but Takahashi is quoted as saying that the yen must he allowed to find an accurate level. Meanwhile all larger business has stagnated. A protective announcement of a bank holiday was followed by an Imperial ordinance, ordering a moratorium for three weeks and complete suspension of all regular bank transactions throughout Japan. RANK OF GENERAL. LONDON. April 22. Sir George Kirkpatrick has been promoted to the rank of general.
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Hokitika Guardian, 26 April 1927, Page 2
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227BRITISH & FOREIGN NEWS Hokitika Guardian, 26 April 1927, Page 2
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