Cabinet Decides to Abandon It: Draft of Ordinance Prepared Tokyo, Dee. 15. partments have been officially ap-'The long expected action of Jepan pointed, including Viscount T. Iwagi, in temporarily abandoning the gold Vice Minister for Foreign Affairs, Standard was Brought neater to-day it., Matsuno, inister_ for ty the new Seiyukai Party Govern: home Affairs, Mr. Z. He View ment of Mr. Zvuyoshi Tnukal, the inister for'Finance, and Mr. M. Hotta, Vice Minister of War. The [Counsellors to the various Ministers nce proclaiming. the abandonment Pathe Tnpertal Orda Emergency Imperial Ordinaalso have been" appointed.—United the gold. standard, temporarily, Press, has been drafted," It has been Paris, Dec. 16. falifed by His Imnperial Japanese Mr. Kenkishi Yoshizawa, the! Majesty, Emperor Hiohito, end it Japanese Ambassador to France and tins "bern submitted. to" the Privy the Chief of the Japanese delegation Eoanell for study before being, pro to the League of Nations Council, formally announced today that he "The ordinance was drafted by Mr, {has accepted the appointment as the Takahashi, the Minister Minister for Foreign Affains in the Kinance, Mr. Tomita, the Director of the Finance Bureav, Mr. Okubo, new Seiyukai Party Government in Japan headed by Mr, Tsuyoshi the Director of the Bureau of Bank-Inukai, the Premier. ing, and Mr. Kukai, the Vice Pre-'Mr. Yoshizawa, who is the son-in. sident of the Bank of Japan, law of IMfr. Inukai, announced that The ordinance will temporarly Within a few days he will proceed suspend Articles from Paris to Tokyo via the Trans-Bank Note Regul Siberian Railway. He will be acprovide for provisional and special companied by Mrs. Yoshizawa and measures by which bank notes may their three children be exchanged for gold specie only 'A former Minister to China, Mx. with, the permission of the Minister Yoshizawa is recognised as an ex-Pert on Sino-Japanese relations. first regular meeting He will succeed Baron K. Shidehara, yesterday afternoon the Cabinet the Foreign Minister in the late! Council, acting upon the recom.
Japanese "Minseito Party Governmendation of Minister of Finance ment of Baron Reijiro Wakatsuki, 'Takahashi, determined to abandon which fell Inst week, the gold standard, The action fol-For nearly three months (Mr. lows swiftly that of Sunday after-Yoshizawa has attracted interna-toon' when the new Government retional attention because upon him: imposed the ban on the export of gold. Decision to place has rested the burden of presenting. Japan's case to the Council of the bargo on gold exports and to aban-salon the gold standard was reached League of Nations as that organise. because the gold specie reserves of lon sought to arrive at a caution the Bonk of Japan, are now valued of i ese conflict Tess thea 500,000,000.
Government has issued Note Conversion Suspended the gold. standard to prevent fur-necessary to ther shrinkage of the specie reserve.
An Imperial Ordinance sespendh Tt ig expected that the Privy the "convernlon. of bank note had rial Ordinance suspends
Council will approve the ordinance been issued and St becomes effective and make possible its promulgation immediately. although in some quarters the qu "The Premier, Mr, Mala, is quoted as intimating that if the Diet fails priety of waitil fo give post facto approval of this important a matter by the Diet, Ordinance it i hie intention to dis, which Is scheduled to convene on salve the Diet and calla" general December 26. No less. than nine election, committees of the Privy Council are The Cabinet has also had under studying the ordinance. consideration to- Tapanese The New Cabinet budget, As there is no time in which "completely to recast the Dec, 15. budget of the late government for To facilitate administration the the next fiscal year the Cabinet, new Government has decided to today decided to adopt the main point four Ministers without port-outline of the budget as it stands folios to the Cabinet, The new jand make a number of modifications. Vice Ministers of Government De-'The most
Text read from the printed page and cleaned; old type leaves the occasional error.