The Archive · 1935

Golden Rule Modification

They desired to know what the government intended to do about matter. The government was extremely sympathetic. The best it could do, however, was to summon the advisers of the Trade Bureau of the Department of Commerce and Industry who had recommended that Japan curtail its exports voluntarily.

Lengthy discussions were carried One result of the meeting was thi conclusion the golden rule does not apply to international trade, "The golden rule," the Japanese officials resolved. "must be modified. The Voluntary control of Japanese exports to countries where they are hot welcome out of concern for the altitude of such "countries ig ike hhandeuffing oneself." they decided.

Of course even if the manufacturers had succeeded in selling 5,000,000 yards to the United States monthly, this would still be a mere drop in the bucket as far os Japan's total cotton textile exports are concerned. The figures for September, for instance, reveal that no less than 230,- 000,000 yards were exported during that month.

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

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