FAVOURABLE REACTION IN JAPAN
FINANCES ADJUSTED By Cable. —Press Association.—Copyright TOKIO, Monday. Both Houses of Parliament were prorogued to-day after having passed the Finance Bills. The first Bill authorises the Bank of Japan to adjust the situation. As regards the opening of the Bank of Formosa and the other closed private banks which show solvency, the limit to the guarantee totals £70,000,000, in addition to the £20,000,000 authorised at the close of last session.
Both Bills have been signed -by the Emperor and will be gazetted to-day. Preparations will then be begun immediately for the ending of the moratorium.
The final action of passing the Bills and closing the special session caused an immediate favourable reaction throughout the country.—A. and N.Z.
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Sun (Auckland), Volume 1, Issue 41, 11 May 1927, Page 9
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121FAVOURABLE REACTION IN JAPAN Sun (Auckland), Volume 1, Issue 41, 11 May 1927, Page 9
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