Word: yen
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...secret organizations preached bloodthirsty Nationalism. Fascist ideals of state capitalism were popular with Japanese businessmen. Since then has come a gradual reaction. Although the God of Elections had 33 members of the Imperial Diet in his new party last week (reputedly purchased for bribes of 5,000 to 10.000 yen each) the Japanese Press was quick to minimize the bloc's importance. Wrote the Tokyo Asahi...
Meanwhile the 64th session of the Diet, opened by Emperor Hirohito in Tokyo this week, faced the most colossal public debt ever incurred by Japan: nearly seven billion yen ($3,500,000,000 at par, $1,400,000,000 at current exchange...
Paradoxically the fall of the yen since it went off gold (TIME, Dec. 21, 1931) has now produced a nationwide "inflation boom." Silk raisers who received about 1,500 yen per bale of raw silk in 1929 and were forced last July to sell at the "panic price" of 450 yen, now get 900 yen and exult that "silk prices have doubled in the last half year...
...Shanghai a Russo-Chinese steamship company was organized, announced that its ships wall ply between Shanghai and Vladivostok. Just how important the new Russo-Chinese rapprochement seems in Chinese eyes appeared when the Nanking Government appointed its Minister to the U. S., Dr. W. W. Yen, to be Ambassador to Russia. Dr. Yen, who has been fighting China's losing League battle in Geneva, prepared last week to follow Comrade Litvinov straight to Moscow...
...produce about 37% of all Japanese current sold. Although the bulk of their capital came out of Japanese pockets, each of the Big Five has sold bonds abroad; nearly $115.000,000 of their dollar issues are outstanding in the U. S. Toho Electric was hardest hit by the slumping yen, for $11,450.000 of its notes fell due last July. It required nearly twice as many yen to pay off the notes as it originally received...