Bankruptcy For Japan

Manawatu Times, Volume LIV, Issue 7271, 26 September 1933, Page 7

Bankruptcy For Japan

Manchurian Activities And Tariff Barriers

MILITARISTS SEEK STILL FURTHER EXPEDITURE

(United Press Association —By Electric Telegraph—Copyright.) Received Monday, 9.30 p.m. LONDON, Sept. 25.

Tho Daily Herald says: “Japan is facing financial and economic bankruptcy as a direct result of the huge sums for financing operations in Manchuria, where she staked everything on a gamble and all tho indications arc that sho will lose.

“Japan carried her policy of depreciation too far and there is a growing demand all over the world for Governmental action to prohibit the importation of cheap Japanese goods. If action is taken, it will force Japan into bankruptcy. “She is faced with a Budget deficit of approximately £.100,000,000 at par and only 55 per cent, of the Budget requirements can be met out of the noimal revenue; yet the military party is pressing for additional expenditure.”