General Depression Prevailing in Industrial Circles 's estimated total budget for 1628, recently prepared by the finture, according to telegraphic. ad vices received by the Japanese Commercial Attache.
Yen 180,000,000 has been set in this new budget as. ddiexpenditure solely for the development of foreign trade. The authorities contemplate floating 4 further loan of Yen 199,000,000.
Gereral depression is. prevailing throughout industrial circles, Owing to the non-readjustment of the sev loral banks which recently suspended business, smaller industrial concerns may be' faced with considerable] dificultien at the close of the year. The Showa Bank, which opened to business on December 1, contem. plates paying creditors part of their opposite at the banks which have! sesperded payment.
Foreign trade during the Novem-Ler quarter. resulted in exports the value of Yen 186,000,000, showing an excess of exports over imports of Yen 15,000,000. The adverse trade balance amounted Yen 160,000,000, which, compared with the corresponding period. Last Year, shows a decrease of Yen! 172,600,000.
With regard to the recent weak tone of foreign exchange, the Fin. ance Minister is reported to. have aid that the prevailing, tendency due to seasonal phenomena based on conditions of international accounts. "He is reported also to have écctared that the Government has rro intention whatever of resorting to artificial measures to relieve the present position, but indicated that may be necessary to adopt emersency measures if depression in international accounts continues, caus-
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