"As the exchange proceeds from ELE re ces exports are falling into the hands of Japan, a large part of the original und, in effect, has been handed over to Japan, while another large portion has been handed over to. facilitate exchange speculation and capital export.
"Although the latter Joop-holes are now closed, it will still be necessary to institute' sil more rigid contro! of imports to ensure that they are not paid for simply with Japanese currency.
"Provided that is done, further assistance might possibly achieve ins fend, for currency conditions in China are still by no means chaotic.
"It is sincerely hoped," the "Finan dal News" concludes, "that a way Will be found round the difficulty, for the tone of Jananese comments leaves ttle doubt that any. withdrawal the very moment of the Tokyo negotiations would be interpreted as sign of British weakness."—Reuter,
Text read from the printed page and cleaned; old type leaves the occasional error.