Shifted to the dollar, the yen will rise on any further decline of the pound sterling and this will create undoubted difficulties for Japanese trade in many of its most important markets, such as Australia, the Dutch Indies, and British India. If it were not for this, the shift to the dollar would have been made long ago, But wartime conditions have apparently forced the change, despite its advantages, To overcome them, Japan will have 1o stimulate its exports to the United States in order to create the necessary dollar balances to cover increasing purchases here. The products Japan used in its barter deals with Germany can scarcely find a market here and the soy bean market has been cut away by domestic production.
Meanwhile, firms engaged in the trade are making no commitments until the treaty relations are clarified and all contracts that are concluded contain clauses relieving the American buyer or seller from bearing any additional charges that may ensue after the treaty expires—Havas, Soya Production in
Text read from the printed page and cleaned; old type leaves the occasional error.