Referring to the economic aspects of the Japanese campaign, the correspondent states that in North China there is known to be a field of really cheap mineral ores and raw materials.
Thus, he declares, there is heard economic arguments from Tokyo in favour of a North China campaign "to secure an economic penetration (at the point of a bayonet), to tap a new field of probable wealth, and, at the same time, to buttress the economic situation at home by a system of exchange and import control on the German model that is the admitted plan of industrialists in favour of the campaign."
These military industrialists may be called the middle school of Japan, the correspondent continues. To one side of them are the militarists who hold the reins, while to the other side are the industrialists and traders who believe a peaceful penetration may secure greater gains at smaller costs. This group, he concludes, is said to be growing, but hardly fast enough to deflect the militarists from their course—Reuter,
Text read from the printed page and cleaned; old type leaves the occasional error.