Also, the journal continues, sales of Japanese "colton textiles in. the interior' of China formerly were based on sen, but now are based on Sapanese army notes. The chaute has aided tireuation of the army notes, special currency that has value only inthe. occupied areas iv China, but thas reduced the demand for ordinary jon currency.
At the same time, it_is pointed out, the flow of yen into China has been decelerated by" the" increase in the number of Japanese going over for Warlotis purposes, taking with them The "AsahI" also believes that the CChinaking Government, "king ade Vantage of the restricted market for Yen, has been attempting. {0 hamper ihe etreulation of Japanese. currency In'chinn in retaliation for the estate lishment of the China Development Gommereial "Bonk." "tan Hsing Whatever the cause, the newspaper asserts, the decline of the yen is living rise to illegitimate trading and Duying of yen with foreign currencies from abroad that normally would ome to China but now are being sent to Shanghai for conversion into yen fat the low rate. This is. happeni Says the "Asahi," despite all the efforts being made by the authorities to prevent it, The journal believes that the Gov ernment can take steps, that will be more or less effective, in restoring the exchange situation to normal, but warns that "they can at best be first-aid treatment sind cannot reach the Foot of the trouble."
Tokyo, May 31.
The French Commercial Attache has notified the Japanese Government of the French Government's decision to include Morocco in the French Aeeree, published on May 3, banning Imports" into France proper and French colonies of Japanese goods, with the exception of raw silic and camphor, without certificates of origin issued by French Consuls or the Commercial Attache in Japan.
Hitherto, Morocco has been ex-eluded from the colonies affected.
The notification is drawing considerable attention here to the fact that the French Government is extending the application of its decree fo Morocco desire the Argeles Agree ment, In this connection, the French consular authorities in iXobe say that the French decision will not have much effect on Japan's exports to Morocco, in view of the fact that the French consular authorities in Japan have always willingly given certificates. of origin to Japanese goods exportable to French colonies.
Cotton spinning industrialists Osaka are optimistic regarding the fulure of Franco-Japanese trade relations, believing that the French consular authorities in Japan will show a friendly attitude in. giving certificates of origin to Japanese often textiles exportable to Morocco, According to trade returns for 1938, Japan, exported—¥.137,780,000 "worth of cotton goods to Morocco, which was 75 per cent. of Japan's total trade with Morocco—Reuter, Severance from Shanghai
Text read from the printed page and cleaned; old type leaves the occasional error.