Word: taiwan
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Dates: during 1927-1927
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...seven banks suspended payments. The first thunder clap (TIME, April 18), was the announcement by Japan's richest woman, Mme. Yone Suzuki that her enormous importing and exporting firm would delay payments on its $250,000,000 obligations. Forthwith came another thunderbolt-suspension by the great Bank of Taiwan, chief creditor of Suzuki...
...effort to clear the air, Premier Wakatsuki attempted to secure approval from the Imperial Privy Council to extend enormous credits from the Bank of Japan to save the Bank of Taiwan. The Privy Council, a body of august solons with super-legislative power, responsible only to the Emperor, refused to sanction the Cabinet's plan. So, although Premier Wakatsuki had a parliamentary majority, he resigned with his Cabinet...