Troops is Serious Problem: Hardship Ahead Tokyo, Jan. 19.
'APAN'S present situation was the gravest she had ever faced and it must be weathered at any cost, said Baron Seinosuke Goh, the President of the Japan Economic Federation, a semi~ official body which controls trade and industry. The nation, therefore, must be prepared to undergo hardships in the future, he added.
Baron Goh also warned the country that demobilization of the troops when they.returned from China would also present; an important and delicate problem.
"It is difficult," he continued, "{o make any predictions regarding Japan's international, political] or financial future.
'The present moment is really the gravest the country has ever faced and weather the storm' must be our motto.'
'A bitter struggle against fortune was necessary, Baron Goh declared, and with the' strengthening of control over all elds of- business and life, the people of Japan must be prepared for hardships.
"The amount of expenditure that will be necessary to carry out the war." he proceeded, "is likewise dif. ficult to foretell. Everything will depend on futtire developments, Whatever the outcome, an enormous amount of money will be needed. Tt will be necessary for the Government to Issue bonds to raise the money."
Jor the Diet in the near future. The, higher taxes are to remain in force for a period of twelve months after the "termination of Sino-Japanese An outline of the tax programme is given by the Chugai Shogyo. a leading financial paper, as follows:
Income taxes, inleuding the "North hina "incident "Fox," will be Increased fp. mininwim o¢-20 per cent, to reali Dewteon ¥.1f000.000 one -1s0.00,500
Text read from the printed page and cleaned; old type leaves the occasional error.