Proposed Measures for Control of the Yen i Tokyo, Dec. 1.
An emergency meeting called by the -Vice-Minister of Finance was held yesterday afternoon to discuss methods for stabilizing the Japanese currency. The following measures were drawn up, and will be submitted to the Finance Minister (1) Foreign currencies and bonds possessed by Japanese nationals to be forcibly bought up by the Government; (2) To raise the rate of the guarantee deposits. requited bs members of the Dairen tock Exchange, to such an ex: tort that Daiven merchants. would not be able to force down the yen ce-operating with Shanghai merjehants; and (3) To strictly. enforce the Law for the "Prevention of Flight of Capital, especially us re-ards the restrictions on speculative sales among the banks.—Rengo.
Tokyo, Dec. 2.
Unless the frenzied speculation in foreign exchange subsides, the Ministey of Finance will administer both foreign exchange and foreign, reade, Mr. Takahashi, Minister Finanice, said to-day.
'The Government has done everything possible, short of taking over actual supervision, to check specula. tion, My. Takahashi said but. the speculation has continued, with a consequent decline of the Xen, tool banks both domestic' and foreign, have been asked to report daily' all the details of their foreign exchange business, Even that mea: sure failed to serve its purpose, ho said, In other circles, it was reports the Governnient had decided to issue decree compelling the banks to sell to the Government foreign cur-rendes totalling. something more than $1,000,000,000, This. pure hi according to the reports which are not confirmed, will be completed im January.—United Press.
Text read from the printed page and cleaned; old type leaves the occasional error.