Editor of the Nowri-Ciniva Dany News"
Sm—During the summer vacation I have been making a careful stuly of Japanese trade developments and among other matters coming up for review that of finance has loomed large. If my deductions are correct the internal purchasing power of the yen Is such that Ju international nance Japan is left with an estou ing financial advantage. To. take a typical case—an English im can purchase goods in Japan at one-sixth the price at which the same goods can be purchased In Great Britain while conversely a Japanese firm wishing to purchase goods in Great Britain. would have to pay six Unies as much as for the corresponding Woods in Jnpant If this be true reasons for Japanese trade expansion and the tendency for: Japan. to purchase raw materials. abroad. and pay for them with manufactured goods in which labour pays a large: part are clearly in evidence, particularly as affecting Japan's relationships with Australia, What, I term the accident _of nance" which has given Japan this advantage if an actuality must be" dominant factor in commercial Me ter course, But is it an actuality? This question 1 would ike to put to your 3 and In order that this may be done I enclose Appendix 1 to my. Thesls which fully deals with this waceldent of nance." I shall be truly grateful for the comments at any of your readers who may be interested, Avoneo F, Banker, Shanghai, Oct, 21,
Text read from the printed page and cleaned; old type leaves the occasional error.