Word: yen
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...Manchukuo, but the 13-month haggle has been held in Tokyo with the Japanese Foreign Office setting the figure Manchukuo offers to pay. The first offer, less than one-fifth of Russia's demand, provoked Moscow to horse laughs, especially as it was made in depreciated, fluctuating Japanese yen. Since then all figures have been secret, with Comrade Yurenev and Mr. Hirota defying each other with a "final offer" every few months. Last week, with tempers erupting on both sides, a break in negotiations came as the dummy third party, Manchukuo's Vice Foreign Minister Chuichi Ohashi...
...concussions go even further than to give Japan major advantages over other great exporters to China. They cut certain rates so low that Chinese owners of cotton mills, paper mills, breweries, coal yards and fish markets declared last week they could no longer compete with Japanese prices in depreciated yen, were threatened with ruin. By every post petitions poured in upon the Generalissimo and he received irate telegrams night...
...soaring to the highest levels in months when the President's order nationalizing the metal halted trading forever. Hastily taken as inflation, it poured volatile fuel on the speculative pile of other world goods. Because U. S. exchange promptly sold off, foreign traders swapped their dollars for pounds, francs, yen, then swapped their currencies for world commodities in U. S. markets. And last week when this market activity was added to inflation talk and both added to the fireworks in domestic farm products, trading in all world staples was whipped to boom-time volume...
...Diario Latino: "Our country has never had any benefit from the League. When it was isolated politically from the world because of lack of recognition of the present government, not even a breath was heard from Geneva." Last year El Salvador sent exactly nothing to Japan, imported 684,000 yen worth of goods. In Tokyo Consul General Siguenza announced: "The recognition of Manchukuo is purely a matter of business, the outgrowth of El Salvador's acute need of new markets for her coffee. ... If America bought more than 20% of our coffee exports, of course, El Salvador would have...
...Bank of Taiwan (Formosa), with deposits of 243,000,000 yen in 1932, is high in the second rank of Japan's potent empire firms. Founded in 1899, it got into trouble in 1927, saved itself with government aid and took over Imperial Rayon Co., the soundest asset of an insolvent debtor. This year the Government, investigating its affairs, indicted its Governor, Imperial Rayon's president and eight other officers on charges of having sold Imperial Rayon stock to themselves and friends below the market price. The trail of corruption wound into the Ministry of Finance...