Tokyo, Mar. 23.
A new Japanese foreign policy, to meet with the situa~ tion' in Europe arising from Germany's action in Czechoslovakia, may be decided by the Government in the near future, according to well informed circles here, It is, reported that at a meeting between five Ministers, held last night in the official resi-donee of the Prime Minister, Baron Kiichiro Hiranuma, the chief topic' of discussion' was that of a new foreign policy. It is understood that the conference will be continued in a few days, when Japan's new foreign policy will be formally decided.—Reuter, signing of a Japanese pact this week, the belief that Germany wants more than she is willing to reciprocal Present negotiations for German trade agreement are falter ing because Germany wants gold payments instead of a barter arrangenent.
The Japanese Foreign Minister understood {0 feel that a more satisfactory escape from Japan's current difficulties could be found through cooperating with Britain and the United States, although there evidence at present that such cooperation is possible. Mr. Arita is understood to be willing to re-open the Yangtze River to Third Power commercial shipping if some. substantial compensation is forthcoming. The re-opening of the harbour at Tsingtao was regarded here overture in that direction, particularly toward Britain, If the United States were to come Imperial Household and that the Emperor had, gone through the routine of secking advice. The de-the Tia Europe, The decision simply express '508 the conviction which representatives of the armed forees cannot endorse without admitting that those forces are not what they were thought to be—that Japan dare not be on the losing side of a world struggle. She cannot gamble on anything but a sure thing and she has yel to be shown that Herr Hitler and
Havas.
Signor Mussolini are sure winners."
Text read from the printed page and cleaned; old type leaves the occasional error.