scope of our business in Japan dire There ie' change the, ing 1090.""A. considerable: sapansien {ook place "inthe valle of foreign trade," and exports to" what Japation' call the Yenbloe coun'
were exceptionally highs thet "to China, Manchoukuo and. the Leased Territory. It. i clear, however, that the economic in Japan is undergoing severe and It Ts by" "Mo mean Cas to judge how' developments, wil work out Inthe present year. The European war us benefited the: country, but not yet so much as Was hoped, Japan is certainly ina better position to take advantage of the opportunities now opening to the Far East w° a result of the war than others, but the many and me creasing diftculties " resulting. from {he conflict with China are a serious 1 have little to xay about the ther in the East where we have hes, Up to the on the war' conditions were Teaturcless, and it isa cynical reflection of the tragic state the world that when war broke out trade once improved in India, Malaya, the Philippines and "the Netherlands Indies. We trust that these countries will reasonable advantages from the rise in the prices of the primary: commodities which thes bred they will at the sume time remem:
the lessons of the past. It satisfactory that the Home Gov ment, as well as local' authorities, fare "taking measures to cheelt speculation. a which 0 rampant in the last. war ana resulted in sch xentlemnen, T want phasize the comi distribution of profits and are conserving our re. sources in order that we may" fice the uncertain future with a reserve firms will do likewise, for there few signs of any striking change the better being likely to come polities! situation out here europe in the near" future, been warned by Our Government of the difficulties ahead, The Chancellor of te Exchequer (recently that the nation will in probability have to swallow drastic. me to escape the dis cases which very seriously threaten None of us can tell what this mad world holds in store afew months ahead. 'This being immensely important that we should concentrate all attention helping to bring the war to a satis. factors' conclusion. star Some 40 of our staff employed in' London at the outbreak of ware are. ow in the armed forces, and a few others are gradually being mobilized, Moreover, the source of supply for our Eastern staff has now dried up, so the the may come, and undoubtedly will "come, when we shall have to put up with serious dislocations and inconveniences, When this it necessary we shall nol complain, T am quite sure that British subjects in Hongkong and the East generally are heer called upon that will help our cause.
Wwe do not
Text read from the printed page and cleaned; old type leaves the occasional error.