JAPAN IN WARTIME.

Auckland Star, Volume LI, Issue 195, 16 August 1920, Page 5

JAPAN IN WARTIME.

RAPID DEVELOPMENT. HEAVY INVESTMENTS ABROAD NEW YORK, Augu.t 15. Tlie Tokyo i-orre_j>ondent of the New j York ■Times'' interviewed Mr. Itiouye. (Jovcrnor of the Hank of Japan, who i said that the five years of war had witnessed a jrr.-nt change in the financial , and economic situation in Japan, primarily n remarkable development in her foreign commerce. The increase in her specie reserves had resulted in an expansion of the hank mite circulation, wliich had naturally contributed .to the enhancement ut her industrial and business activities. Imports and exports had increased Li three times what they were before tlie Mar. Japan's foreign comI iiieree in Uu- near future would probably | show a decrease in imports and exports, although imports would still continue high and 110-. ibly exceed the exports for some veins. Her merchant marine nowtotalled ,1.1)110,00(1 t Hi--. Mr. In-iiiyo stated thai tlie preponderance of imports over exports in tiej future would »»t constitute a menace tn j Japan. Her ore-war foreign investments I I were negligible. They now totalled' I about £-___(). lOOjOOO. ll was. therefore, j ' inconceivable that Japanese business, ' men would i.c faced with the necessity of . | raising uioiiev to meet the unfavourable! | balance of trade or that her st.ecie re-j serves would suffer 100 heavy .. drain, 'japan's currency system would remain ! unite n. stable as ever. (A. and N.Z.I I