CHINESE CUSTOMS

Wairarapa Times-Age, 4 May 1938, Page 7

CHINESE CUSTOMS

f TEMPORARY REGULATION . BY JAPAN STATEMENTS IN LONDON AND TOKIO. RESULT OF NEGOTIATIONS. (British Official Wireless.) RUGBY, May 2. Temporary measures to be taken by Japan for the regulation of customs matters in the areas occupied by the Japanese forces in China during the period of hostilities are dealt with in official statements issued in London and Tokio. According to the arrangements, which will be subject to reconsideration in the event of a radical change in economic conditions, all revenues collected by customs at each port within areas under Japanese occupation are to be deposited with a Yokohama special bank. From the revenues thus deposited the foreign loan quotas will be remitted to the Inspector-General of Customs to meet in full the servicing of foreign loans and the indemnities secured on customs revenue.

The arrangements are the result of negotiations conducted by the British Ambassador in Tokio with Japan since last February and, having regard to the military situation in the Far East, they appear to Britain to offer the best guarantee obtainable for safeguarding the interests of holders of China’s foreign obligations secured on the customs revenues and thereby to assist in maintaining China’s credit.