business, against which a very serious 1 way next the (nen of the import blow. war-strick, when on June 26 new Import regulations were brought into force, whereby the Federal Reserve Bank was given complete control over same, and goods could amy. pass through' the Customs and fenter the country against a permit Yssued by this bank. In addition, foreign importers of piece goods have been forced to Join aspect al Japanese Cotton Goods Associations, before their Application for an import certificate could. be even considered by the Federal Reserve Banik, not to mention ranted, Th any uso, as the regula fons governing the granting of im: port. Hieences appear to be entirely Indegnite nnd arbitrary and are un= derstood neither by the Importers nor even the bank liselt. the import wade hho to come to an' almost complete stand But the worst was sull to come. For fon etcher 1, a final mortal blow has been struck against the export trade by some now regulations. IL appears that the "Japanese army in north China has now decided to take a tinnd the export business, and the com= pany that will engage in this busi hess fx the Shimizu Company. Only.
it Is business sponsored by the army, it is not called a "compan; but is referred {0 in the new re Mons as a. "unit." Just as read daily in the, paper how the "Saito," for "Oshima," oF some other, unit me Mieted a crushing blow on the Chinese forces, This "Shimizu unit" is to have the sole and unquestioned right to decide what export goods it wants to deal in, (Cotton, flax, ides and king are mentioned), "Miliary Supplies"
Only, again, as it isa military concen, its method of choice gore by the "more distinctive phrase of "classifying them as military. supplies." "It the "Shimizu Unit" decides that certain raw materials are mili tary. supplies, then these goods will bbe acquired by the company (i mean unit) at a price to be fixed by the Army. The regulations do not explain, however, on what basis the Army intends fixing Its prices. Pre~ sumably they will not be at a very extravagant rate.
In order to enable the "Shim unit" to conduct its business with a minimum of trouble, it is authorized fo enter the premises of any firm, foreign or Chinese, and. inspect the ods lying in the godowns. "And if, aller, due" inspection, the "Shimia Unit" decides that the goods are classifiable as war supplies, why, that IL he "just too bad for you," if happen io be the owner, If, on th other hand, Shimizu find they do not want them, you may, if they" happen be in a good temper, obtain a permit from them, graciously allowing you {0 remove your own Hoots onl of your own godown. "And, final-such methods, or the wrongs and sorrows of the exporters concerned, this latest policy would seem to be. somewhat short-sighted. If meant to be carried out in. all serious ness, then, no doubt, for the first few months the "Shimizu Unit" will reap. a fine harvest gathering in all the Yaw materials which are at present! Tying tu the godowns of the exporters. But aller these have been taken over, there will, of course, be no. fresh
Text read from the printed page and cleaned; old type leaves the occasional error.