The Wilmington morning star. [volume] (Wilmington, N.C.) 1909-1990, 1945-10-01
MACARTHUR TAKES
OVER JAP BANKS
Confined from Page One)

|
side Japan or to finance war pro-
duction.
| Among the financial institutions
seized were what might be called
this big three" Of Japan's bank
ing inperialism:
l. The Manchurian Heavy In.
dustry Development Company, a
combine greater even than theh
famous house of Mitsui. It exploit
ed the riches of Manchuria and
made fortunes for bankers, indus
trialists and generals.
2. Branches in Japan Of the Bank
Of Chosen Kcre0, aligned with
/ the Bank Of Japan. It was the fl
nancial center which in the late
l920's fed smugglers from Korea
into China in long-range attempt
to spread economic chaos and pre-.
pare China for conquest.
3. The blanches in Japan of the
Bank Of Taiwan (Fornosa), mon.
opolistic financial control agency
by which the industriaists exploit
ed the Philippines, Dutch Borneo
and New Guinea. The houses OF
Mitsui and Mitsubishi were believ.
ed deeply involved in the Bank
Of Taiwan.
ALI the 81 seized houses were
controlled directly or Indirectly by
the japanese government, and
their shareholders mainly were
members Of the Imperial household
and the captains of industry.
/ American authorities took steps
at once to notify the Japanese pub
lie fully that there is no intention
to confiscate the savings OF the
man in the street"
The Finance Ministry was in.
structed to present a plan for iqm-
dalton Of all the institutions and
to pay at face value all Individual
deposits therein of the Ordinary
man" Most of the institutions,
however, are not banks of deposit.
MacArthur's drastic step follow.
ed by one day his orders stripping
from the Japanese government all
control over the press, radio OF
any other methods of communica
lions in the island empire.
! These were the other develop.
rnents in the unfolding story of the
fallen empire:
The Ministry of Agriculture and
Forestry told Domei Agency that
IN move to meet the thret of fam.
inc it would lanuch five-year
program to put military air fields
cavalry horse pastures and state
forests into cultivation.
The Welfare Ministry, reorganiz.
ed into the Social Affairs Minis.
try, reported japanese unemploy.
ment had reached 5000, 900 and
would be doubled with the return
Of demobilized soldiers from
abroad.
| A spokesman for the cotton spin
ming industry told Domei that the
available spindles in SO big mills
had been reduced by bombings t.
one-slxth of the pre-war total.
Domei, the propaganda agenc,
used by the military to mold thu
minds of the people, announced il
would dissolve as soon as a new
press association to be known a,
Kyodo can be formed, possibl,
within month.
| Donei also announced that :
nlne-day campaign to clean up tn.
ruins of Tokyo would begin Mon
day.
1t. Gen. Toyama formally sur
rendered Friday his 5Sth japanese
army Of $1,000 men on Cheju Is
land, in the East China Sea south
OF Korea, headquarters announc.
ed.
Shigenori Togo, japanese For
elgn Minister at the time of Pear
+, Harbor, suffered another heart at
tack and his removal to prison
alongside other suspected wal
criminals was postponed.
Plans were speeded to move
Japanese now in custody from thu
Yokohama prison to a camp il
Tokyo bay where American pris
oners once were held. It was ex
pected that both Togo and formed
Premier Hideki TOTO both woule
be lodged there when fully recover
ed.
Whether the individuals involved
by the seizure of the financia
houses would be tried as wal
criminals will depend upon tn,
War Crimes Commission, saie
Col. Raymond C. Kramer, head o
/ Macarthur economic and scien
tific section.
Kramer said the principal oh
ject of the move closing tn,
houses was to untangle the inter
locking and overlapping financia
operations of the government
financial institutions in the area
occupied by its conquering ar
mics.
The orders told the government
to close all such institutions a
once and reopen none withou
MacArthur's permission.
The Japanese were ordered t,
take custody and deliver to oc
cupation authorities all books, re
cords and papers an, to impoun,
all gold, silver, currency, securi
ties, notes, mortgages, pledges an,
other assets not on the premises.
Headquarters viewed the bank
as institutions which worked "Wit]