JAPAN’S FINANCE
PROPOSED BOND ISSUE OMINOUS WARNINGS SOUNDED CONFIDENCE THREATENED (United Press Association) (By Electric Telegraph—Copyright) LONDON, Jan. 6. (Received Jan. 6, at 9 p.m.)
The Daily Telegraph’s Tokio correspondent says: ,r Ominous warnings of Japan’s financial condition are being sounded by Japanese business people and financiers, the most striking of which was given by Mr Kobayashi, president of the Tokio Electric Light Company, and one of the most powerful men in Japan s financial and industrial world. He declares that the Government seems to think it can mobilise and distribute national bonds so as to stabilise national finance, but he says confidence is even more important, and he fears that this is threatened in Japan. He believes the Government will have difficulties in disposing of its proposed bond issues before March 31, and adds that the stock market has so fai failed to reflect the war boom. ‘ This is because Japan’s financial circles have not enough confidence in the Finance Ministry. Even a child knows that adjustment of the international balance is an essential factor in maintaining Japans financial stability.’ ”
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Otago Daily Times, Issue 23393, 7 January 1938, Page 7
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181JAPAN’S FINANCE Otago Daily Times, Issue 23393, 7 January 1938, Page 7
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