Reviewing all aspects of the national finances in his New Year's Day message to the nation, Toyotaro Yuki, Governor of the Bank of Japan, did not hesitate to warn the public and Government to beware "the red signal of currency inflation."
The figure given above shows that currency circulation in Japan has in-fated by more than Y.1,000,000,000 over the total of December 31, 1938. Moreover, according to Japanese financial circles, all indications are that the "brakes" applied by law to counteract any trend toward inflation were not working properly throughout the past year.
Text read from the printed page and cleaned; old type leaves the occasional error.