Laurel outlook., 1946-01-02
Yanks Find Huge
Japanese Hoard
Gold and Silver Valued at
$3.50, 900, 900; Gems at
$50, OOO,O 900 Seized.

Notwithstanding for japanese
war loot American troops have I'M
covered more than $3.50, 900 900 in
gold and silver; and diamonds
weighing more than 80 pounds, esti-
mated in value at $50, 600, 900.
In the army and navy ministry
alone $12, 600, 900 in gold and silver
was found.
1t was disclosed by the raids that
the Japanese government had no
knowledge of the gold and silver and
that neither the army nor navy has
made an accounting of expenditures
to the government since 1937-the
year of the invasion of China.
The boards included 58,000,O 900
ounces of gold and silve rbullion and
coins, 80, 400 ounces of platinum on
which no value was set, and Japa-
nese silver coins valued at q, 1000, 900
yen Isl, 800, 900 at the occupation ex
change rate of Is to y.
All were seized by U. S. Sixth and
Eighth army troops at Imperial
army headquarters, the navy minis
try building, military arsenals In
Osaka and in the warehouses of
precious metals companies.
Surprise to Japs.
Greatest surprise to the Japanese
finance ministry was the discovery
of huge stores of silver at the army
and navy ministries. The army held
8,049, 800 ounces of silver valued at
$6,037, 44O. The navy had 7,947, 1O4
ounces valued at S., 760, 1923.
The army held 81, 906 ounce of
platinum in addition to the silver.
The navy had II, 100 ounces of plati-
mum and AZ ounces of gold bullion
valued at 81, 463.
"We were astounded to learn that
the army and navy had not reported
any expenditures since 1887" de-
clared an Allied spokesman.
1.-THE finance ministry told us they
had no reports of army and navy
funds. The finance ministry didn't
know either the army or navy had
a single ounce of precious metals.
"The two services drew their mon
ey from a master account with the
Bank of Japan and only they knew
what became of it,"
Chief paymasters of the army and
navy were from two to three years
behind in their reports.
The headquarters spokesman said
the hoard would be stored in the i'm
perial mint and in Bank of Japan
vaults. 1t was seized suddenly to
make sure specie reserves didn't
disappear, he said.
A complete evaluation of the re-
will not be made for several
days, the spokesman said. An exact
evaluation was hampered because
the Japanese had dispersed bank
records to avoid bomb damage.
Diamonds Worth $4,000, 900.
The diamonds-90 pounds of them
at jewelers. weight of IL ounces to
the pound-were discovered in cheap
quart thermos bottles in a safe de-
post vault.
The gems, largely government
owned and many obtained through
deceit of the Japanese people, are
valued at more than $50, 900, 600.
The fortune in diamonds was
found in the Mitsui Trust company
vaults, deposited in the name of a
Japanese government import and
export control agency.
Many of the diamonds had been
contributed by civilians who we're
old they were needed for industrial
Use. Obviously they we're never used
or that purpose. Possibly the gems
we're intended for use as trading ma
erial with Germany and other ma
ions had the wal continued.
Some of the gems probably were
obtained abroad, as the same type
# campaign for them was conduct
ID by the japanese overseas.
The same government control
lgency also had 80, 1000 karats (about
2H pounds) of diamonds in vaults at
Osaka, considerable gold and nearly
so pounds of platinum in various
of Tokyo.