A. There is to be no increases of State Loans above the amount registered at the year end. Future! issues of local government loans are to be restricted, and sinking funds fare to be increased. the proposed financial ro-forms pre-suppose the release of the gold embargo, the Government will remove the ban as soon as the! necessary preparations have been completed.
Special investigations will conducted for the purpose of improving social, trading, tariff and administrative' condit Other policies outlined include features to improve political administration, official discipline and education.
Regarding the gold embargo policy, close observers interpret the "necessary preparations" referred to by the Government as including. the trimming of the present budget and the drawing up of next year budget, It is therefore, unlikely that all the preparations for the removal of the gold embargo will be completed until Following the retrenchment policy announced "this afternoon the Ministry for Overseas Affairs has cabled instructions to all overseas! authorities to suspend all _programmes of work under construction, The Financial Policy Osaka, July 10.
The statement issued by the Japanese Government yesterday on its financial policy is generally by bankers and merchants, chiefly because of the proposed reduction of public debts, Other authorities on economics, however, point out that while the Governmient proposes to curtail ex; penditure in a wholesale manner, there is no mention of any reduc: tion of taxes. Therefore, they be-Yieve that the Government wi.l depend upon a curtailment of consumption on the part of the. people generally to bring about lower prices and to check imports and thus restore a favourable trade balance and prevent the drain of; Tapan's gold "reserves. around that, while fe i easy The fear is gradually _gainin
Preach economy, it is dificult tu ut it into practice, If wholesale postponement and abandonment of Dublic undertakings, both Govern: mental and municipal, are actually' carried out, such a policy will be ound to cause serious unemployment.
Furthermore stress is laid on the fact that the Government lacks majority in the Diet and th therefore, " general election early next year is inevitable, the result. of which it is difficult to force: but which will not necessarily gi the Minseito Party a working ma-Jority to carry through its schemes for a readjustment of the country's finances.—Reuter, anking Paper's Opinion Nanking, July 4.
Commenting upon the change of the Japanese Cabinet, the newspaper "Chen 'a semi-officio! organ of the National Government, while expressing the hope that the policy will be more sympathetic towards the aspirations the Chinese people than the policy of the 'Tanaka' Cabinet, emphasizes the fact that. in order to strengthen its position the family of nations, China must continue its revolutionary programme and must work out its own, salvation.
"The fall of the Tanaka Cabinet" the paper continues "marks an. important development in_ international relations, Baron Tanaka went into office at a time when the People's revolutionary movement in was at its height. If he had ki he political insight of a modern diplomat, even though he refrained U from ce-operating with the Kuomintang, he should never have attempt.
to interfere with the progress of revolutionary movement in Following the traditional ohoy of the militarists in Japan, the chief object of Tanaka's policy the annexation of China.
these two precious years which might have been used for the. promotion of Sino-Japanesa friendship were not only wasted, bat also witnessed some extremely.
Text read from the printed page and cleaned; old type leaves the occasional error.