Osaka, Dec. 7.
Increase in the note issue of the Bank of Japan by 20 per cent. in the past year was disclosed by Mr. Toyo-taro Yuki, Governor of the Bank of Japan, in am address at the Western Japan Bankers Conference here yesterday.
Mr. Seihin Ikeda, Minister of Finance, who also spoke, concurred with Mr. Yuki in the belief that the increase did not reflect an inflationary tendency, but was in keeping with the remarkable expansion of the economic fabric and the capacity for production.
The Finance Minister observed that a fairly large amount of Bank of Japan notes were also in circulation in North and Central China.
Mr. Yuki dwelt on the favourable absorption of Y.4,930,000,000 in government bonds issued since the outbreak of the China hostilities of which he said that.¥.750,000,000 were underwritten by the postal savings bank, Y.100,000,000 by a banking syndicate and Y.3250,000,000 were underwritten and sold by the Bank of Japan.
Wholesale prices were about five per cent higher than last year although retail prices of some commodi. ties showed a tendency to rise abruptly owing to the decrease in peacetime industries and the restriction on imports.—Domei. unsatisfactory, and it is so far reasons which are only too much present in the minds of Your Lordships.
"The Government is prepared to consider all measures for safeguarding British interests.
"None of Lord Elibank's proposals have escaped the British Government's attention,
Text read from the printed page and cleaned; old type leaves the occasional error.