The modern monetary system largely dependent upon credit and when credit is suspended it has to he replaced The Bank of Japan's notes in circulation usual-range from a 1,000 million yen to 1,200 million ten but in the pre~ it has swollen to 2,300 and the Bank's stock fof notes became exhausted, The Bank is now issuing new 200 yen and 50 yen notes, It is believed, however, that a further expansion of the of notes in circula tin is unlikely as confidence has been restored and the run on the parisd 28 business must be done Chiefly in case, cheques, promissory notes, bills of exchange, etc... not Being used as much as in normal The Diet Opened Tokyo, May 4 coach, under cavalry escort, Driving to the Diet in a State peror to-day formally epeeed the] Specigl session of the Diet, which has been convened to consider the Government's two proposed relief measures covering the general fipectively.
Particular interest attaches to the fact that not only is this the frat occasion that the new Emperor has opened a Diet session since he a3- conded the Throne, but it is the first time for a decade since an Emperor of Japan has attended the opening ceremony in person.
On the conclusion <f the cere-many, which lasted barely ten minutes, the Lower House held the first session, though it only elected committees." No special business will be transacted till to-m when the Premier, General Baron Tanaka, will announce the new Government's foreign and financial policies and present the relief Bills.
Text read from the printed page and cleaned; old type leaves the occasional error.