The Washington herald., 1920-12-18
STEADY DECREASE
NOTED in JAPAN'S
MONTHLY IMPORTS
Shrinkage Totals 43 Per
Cent, Attache Abbott
Reports.
RAW PRODUCTS LOW
Export Statistics Also Show
Marked Decrease During Last
Few Months.

Reviewing economic conditions in
China and Japan, Commercial At
tache ]. F. Abbott. at Tokyo, in a
report to the Department of Com
merce yesterday, declared that there
has been a steady decrease in the
past six months in Japan's monthly
Imports from about 100000 yen
during May to about 107. 900, 900 yen
curing November. a decrease of 43
per cent while during the same
period the monthly exports have de-
creased uninterruptedly from ap-
proximately 29O.00O.000 yen tt
about 10I.oo0.o00 yen. a decrease of
IS per cent.
During the past three months, the
report said, there has been COM
parstively little reduction in the
monthly importations and 1t seems
probable that the December figures
will approximate those for Novem-
Der, there being little hope of i'm
provement since the market Is still
generally overstocked with imported
merchandise, due to heavy pur-
chases during the speculative period
earlier in the year. The prices of
import staples are generally ruling
lower than they were at the same
time last month.
Export Statistics
Monthly export statistics, have
continued to show a marked de-
crease during the last few months
and December figures are expected
to show a further reduction. The
prices of the new raw products
which Japan exports are also gen.
orally lower than at the corre-
spending period last month. or the
decreased exports, that of silk Is
naturally by far the most promi-
nent, while of the decreased i'm
ports petroleum is particularly no.
table significant Of the existing in
dustrial depression.
New Bill to Aid OIL Trade.
1t is exected that a bill will be
introduced into the next session OF
the Diet of Japan proposing the
establishment of petroleum as a
government monopoly to apply to
Japan's dependencies and leased ter
ritories. as well as TO Japan proper.
Exchange value OF the yen. which
has been running recently some-
what above par. will soon show a
decline. Bank rates have been
raised and money is generally tight
err Recent reports show that saw
ings deposits in the banks have
been increasing but although finan-
cial conditions are less severe than
they were several months ago. there
is still the fear Of serious failures,
and occasionally the banks are still
exercising considerable caution IN
the granting q credits.
The japanese apparently have suf-
hcient Investment capit.al to meet
the current demand. il was said.
such capital being largely directed
at present 10 railroad construction
and to manufacturing and electric
enterprises. special ac ivity in the
construction Of once buildings and
stores at Toxic also Is evident. The
government Il conteinpi ating a bond
issue amounting to so.00O.O 900 yen
to provide Improvement of the rail-
road and other transportation ga
cilities.
Reviewing economic conditions in
China. the rtrorCsof Commercial At
tache J. A-1oid- az Pekin, declared
that the bIaks have been decreas-
ing their loans and consequently
money is tighter and bank discount
rates higher Although money seems
plentiful. credits ark more difficult
to negotiate