The Archive · 1930

Japan's Gold Embargo

Tokyo, Jan. 8.

After 11 years' suspension, Japan's gold coinage will be release ed for free circulation beginning on January 11, the date of the abolition of the' gold export ban. In anticipation of the possible demand for old coins on, and after the date of gold release, the Bank of Japan has minted 100,000,000 yen worth of gold in the Government Mint.

These are part of the total of} '950,000,000. yen's worth of gold coins manufactured by the Government in preparation for lifting the gold embargo.

Jan. 9.

With only two days left before the removal of the gold export ban, financial circles in Japan are feeling anxious over the slump of silver and the consequent decline in the share quotations on the stock market.

That Government circles are pay-ug serious attention to the unstable financial situation arising out of the depreciation of silver is revealed in the fact that the Premier, Mr, Yuko aguchi, yesterday caused his private secretary, Mr. Yadanji Nakajima, to interview the Finance Minister, Mr. Junmosuke Inouye, and inquire into details of the entice situation, The explanation given by the Finance Minister with reference to existing unstable financial condi-ions is something as follows:

(1) The primary cause of the slump of silver can be traced to.the revision of the monetary system in

Text read from the printed page and cleaned; old type leaves the occasional error.

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