"Our Government should take proper advantage of the present industrial trend for the purpose of establishing a new order in East Asia. No one can deny that cotton textiles and raw cotton stocks have played an important role in financing the China Incident.
"But with the general advance of commodity prices, light industries cannot escape a tendency toward ever-mounting production costs, and therefore too much cannot be expected of our cotton industry in the future.
"At this juncture, the Japanese spinning industry should move to the Asiatic continent, where labour costs are very cheap. For this reason, its transfer must be given serious consideration from the standpoint of national policy.
"It is true that there are many who oppose the move, but, in point of fact, if the Japanese cotton spinning industry continues at the present rate, there is no other alternative than ultimate ruin.
"Backed by American and British capital, the Chinese cotton industry is about to make new advances. So, in any event, the time has come for Japanese spinners to think a little less of their own advantage and unite for the best interests of the State'"—Reuter.
Text read from the printed page and cleaned; old type leaves the occasional error.