JAPAN’S COSTLY CAMPAIGN

Timaru Herald, Volume CXLIV, Issue 20966, 19 February 1938, Page 11

JAPAN’S COSTLY CAMPAIGN

ENORMOUS BURDEN IMPOSED

SUBSTANTIAL INCREASE IN NATIONAL DEBT United Press Association—By Electric Telegraph—Copyright TOKIO, February 17. The Japanese Ministry of Finance has fixed the supplementary army and navy budget at £282,000,000 according to the newspaper "Asahi Shimbun.’’ Expenditure on the China campaign to March 31 ds estimated at £149.000,000 and is calculated to be increased to £432,000,000 by March 31, 1939. The cost of the war is being financed by bonds for £257,000,000 and also by increased taxation. The Tokio correspondent of “The Times” reports that the supplementary Budget expenditure on the Chinese campaign exceeds the entire national debt in 1932 and only one third of the total is yet raised. HOUR OF NATIONAL EMERGENCY DEMAND FOR UNITY OF PARTIES United Press Association—By Electric Telegraph—Copyright (Received February 19, 1.29 a.m.) TOKIO, February 17. Three hundred uniformed members of the National antl-Communist Federation arrived in motor trucks at the headquarters of the Minseito and Sieyukai political parties, and demanded interviews with the leaders in order to discuss the merger of all parties to meet the national emergency. They met with a refusal. They unrolled their bedding, preparatory to besieging the headquarters, until the parties changed their mind, but they dispersed after a recommendation from the police. Foreign Interests Threatened

The industrial daily news foreshadows the exclusion of non-Japanese goods from Chinese areas, under Japanese occupation, the abolition of customs, gold unit unification in North China, currency parity, yen enforcement, exchange control. This will probably coincide with the opening of the North China Reserve Bank on March 1.

Meanwhile the Peiping Government will restrict the importation of foreign goods suppliablc from Japan. JAPANESE CAMPAIGN PROCEEDS STRONG THRUST AT CHENCHOW United Press Association —By Electric Telegraph—Copyright (Received February 18, 6.30 p.m.) SHANGHAI, February 17. With Chengchow as their objective, the Japanese encircled Slnsiang, from where the Chinese are retreating westwards. The Japanese occupied Hweihslen, six miles in the north west. JAPANESE ENTER SINSIANG ANOTHER KEY POSITION CAPTURED United Press Association—By Electric Telegraph—Coptrlghl (Received February 19, 1.50 a.m.) SHANGHAI, February 18. The Japanese entry into Slnsiang, gives them another key position on the Yellow River.

NO MORE PATROLS JAPANESE CONCESSION TO UNITED STATES United Press Association —By Electric Telegranh—Copyright (Received February 18, 6.30 p.m.) SHANGHAI, February 17. The Japo-American negotiations resulted in Japan agreeing not to send further patrols into the United States defence sector.