Grand Forks herald. [volume] (Grand Forks, N.D.) 1916-1955, 1917-06-30
JAPAN OFFERED
RUSSlAAL0AN
Negotiations Were Cut of
by Revolution, Finance
Minister Says.

Toxic, June So.-(correspondence)
Japan was negotiating with Russia
to make a wal loan to that country
when the revolution interrupted with
pourparlers. said Kasuye shodA, Jap
ans minister OF finance, to the corre-
spondent Of the Associated Press while
discussing Japan'e proposed financial
assistance to the entente powers. The
minister did not W. whether the in
t%errupted negotiations would be re-
sumed.
The minister previously stated that
his country was negotiating to make
loans to Great. Britain and France.
He could not fix the amounts. but he
expressed the opinion that the finan-
cial aid to h entente, experimenting
Japan's dispatch of a feet Of warships
to the Mediterranean sea, showed
her power to help the allies success
fully prosecute the war.
He declared that oanst to the allies
and the contemplated purchase of en-
tente securities held in the United
States would tend to check the out
flow of gold from the United States
to Japan which appeared to be caus-
States. n contemplated purchase Of
securities wat not to be an official OPP
Grafton. 1t was being arranged by q
group Of important banks, including
the Yokohama Specie bank, the In
dustrial Bank OF Japan, and leading
financiers OF Osaka.
You must remember" remarked
Of gold from the United States, that
the importation Of specie is generally
regarded as a Instantaneous opera
ton"
Minister shoda, in an address be-
fore the ~prefectural governors refer
ring to Japan's financial part in the
war. said:
our own people may sometimes
forget the fact that u country is q
operations are not conspicuous on the
surface. But the empire is giving the
allies every assistance at Its command.
and the special fund needed for hat
purpose reaches no small amount.
Fortunately at the outbreak Of the
war. u national treasury was in
such a fine condition that we did not
have to seek a special revenue source
in d~efraying those expenses. But what
the close of the war will bring no n
knows except the prospect that the
expenses will only increase. The gov
eminent, therefore, Is at present con"
sidering the ways and means to solid
ify the foundation of our wartime
finance"
That Japan was continuing to en-
Joy great material prosperity was
shown. he said, by the fact that up to
the middle Of May he exces Of ex-
ports owe imports had reached the
total of about $110, 900, 900, or about
three times as great as the previous
year for h same period. This had
brought about ar over-supply Of
money which constituted q great
problem. The wassof disposins of this
surplus money could not be definitely
outlined in days like these when the
world finance is full Of sudden chang
es.
THE investment of our capital in
China" he went IN, lis Indispensable
in realizing the economic co-opera-
ton between Japan and China. For
that purpose the financial organs must
be unified and readjusted and coop
erative enterprises of japanese and
Chinese must be encouraged. It should
be remembered. however. that the in
terests of the two peoples should he
promoted for their common good and
conflicts should be avoided as far as
possible"
I'VE must be prepared to respond
unhinchingly to orders for war sup
plies in order to help the allies win
the war. l feel It is our duty to give
the allies every convenience in paying
for the war supplies from our coun-
try.1