Word: yen
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...payment of Y25,000 (about $8,500) annually to the Chosen Government, the mining company was free from all taxes, import-export duties. Eight years ago Japan got tough, embargoed gold exports, forced Oriental to sell gold to her at prices below the world market, paid off in unsteady Yen. Last week Oriental, last big U. S. concession in Korea, got out while the going was still passable...
Japanese spinsters, too, are making hay. Hundreds of them have been hired by the Government as Peeping Thomasinas. Some of them loiter around the luxury counters of department stores, taking notes on their sisters who squander yen on beauty creams instead of patriotically investing in Government bonds. Other, luckier maidens, steal at dusk to vantage points near geisha-houses, machiai (waiting-houses) and licensed prostitute quarters, and there scribble down the automobile license plates of bloods who waste their money during the national emergency. Sometimes, when the young scalawags arrive by taxi, the guardians of national thrift have to slip...
Peasants have other means of resistance. Unless it is tendered on the point of a bayonet, a Japanese yen-backed note from the new Japanese-dominated North China Federal Reserve Bank is not honored at face value. Last spring in the Japanese-occupied areas of North China, the Chinese mysteriously forgot to plant their usual cotton crop. Unless the Japanese can debauch the Chinese in captured sectors with opium, as they are trying to do, this sort of passive resistance might go on for decades...
Some months ago the U. S. lent $25,000,000 to the Chinese Universal Trading Corp. to finance Chinese purchases in the U. S. Shortly afterward, Great Britain lent $25,000,000 to the Chinese to stabilize the Chinese dollar. With the Chinese treasury thus bolstered, the Japanese yen, whose value has been depreciated in the occupied areas for some time, actually sank below the value of the Chinese dollar. Moreover, the Japanese cannot get needed foreign exchange from China with which to buy planes, oil and scrap iron so long as deals on China's coastal soil...
...Itagaki, most prominent member of the Army's radical Kwantung Clique, who conquered and now rules Manchukuo; the fabulously rich men who own the Houses of Mitsui, Mitsubishi, Sumitomo, Yasuda and Okura, firms that control 62% of the total wealth of Japan (Mr. Gunther calls them "Men of Yen") ; Emperor Kang Teh (formerly Henry Pu-yi) of Manchukuo, "least consequential monarch on earth...