Consequently the government some months ago enforced what Is known as Its "export control policy" on cotton shipments to the United States. By this the Japanese Cotton Cloth Exporters Association agreed to fix its prices not more than one cent per yard below the market price in the United States.
No sooner was this policy put into practice than Japanese textile ex: ports slumped. During the first half of the year Japan exported an aver age of 4,081,000 yards of bleached cotton cloth @ month but in July the figure dropped to 1,030,000 yards. In August conditions grew much worse and only 210,000 "yards were exported. September set an all-time low for the year with only 200,000 yards, At this stage the cotton cloth manufacturers and exporters who understood that they would be able to export in the neighborhood of §,000,- 000 yards a month If they listened to officials of the Foreign Office and the Department of Commerce and Industry became furious.
Text read from the printed page and cleaned; old type leaves the occasional error.