THE YEN NEXT

Wanganui Chronicle, Volume LXXXI, Issue 18965, 17 March 1924, Page 5

THE YEN NEXT

ANXIETY IN JAPAN GOVERNMENT’S INTENTIONS. Received March 16, 8.40 p.m. NEW YORK, March 15. The Times’ Tokio correspondent says anxiety is felt over the continued decline of the yon, which has reached 414 cents, which is the lowest for 30 years. It was expected that the loan announced in February would bolster the yen, but the declines remained substantially unchecked. The main cause of the, decline is seen in the tremendous adverse trade balance, which for .February totalled 186 million yen. This adversity will probably eat into the Japanese gold reserve abroad, which now totals three hundred million yen, whence it appears possible that Japan will within a few months be seeking another foreign loan. Nevertheless a high official in the Ministry of Finance told the correspondent that the government will take no artificial means to bolster the yen. "We will rather attempt to check imports of unnecessary articles and luxuries, and resume our former tariff, thereby stimulating the export of manufactured goods, which will now be cheaper to the foreign consumer. By such measures we expect the yen to right itself.”