MONEY CRISIS
POSITION IN JAPAN
CAUSES OF THE REACTION.
(AUSTRALIAN - NEW ZEALAND CABLE ASSOCIATION.)
(Received May 24, 1 p.m.)
NEW YORK, 23rd May.
• Tokio financiers are convinced that the financial situation in Japan is .well in hand. The Bank of Japan has advanced forty million yen to a syndicate of banks which is aiding traders. The recent reaction is said to be due to the abnormal war-time prosperity and over-production, the creation of war-time concerns in which large investments were made, and the decline of exports..
The Yokohama silk and cotton yarn markets are weaker, and the metal and rubber markets are stagnant. The cost of living has advanced sharply. Most lines of manufacture are virtually paralysed, owing to the tight money market. Ten small banks in Osaka suspended payment until the larger banks came to the
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Bibliographic details
Evening Post, Volume XCIX, Issue 122, 24 May 1920, Page 8
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137MONEY CRISIS Evening Post, Volume XCIX, Issue 122, 24 May 1920, Page 8
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