Salt Lake Telegram | 1920-12-05 | Page 10 | Japan Yet Drain on U. S. Gold Store

JAPAN YET DRAIN ONU S S. S GOLD STORE i bullion Exports for Nov Almost NEW YORK TORK Dec Approximately 4 O was shipped from this country to Japan during t the e last month months and with the additional amount will be exported this month the total otal for the halt half YEar jear will be close to to It f not in excess of or SO According to Den Japanese financial financial fi- fi lancial commissioner t to the United States the reports from Tokio that Japanese banks had stopped exporting gold from the United States to Japan ire are erroneous Neither the Japanese banks janks nor the Japanese government VIr Mr Mr Den says ha have hao o changed their attitude attitude atti atti- tude toward movements of ot the metal Japanese banks and some non Jap anese banks which are doing exchange business in the Tar liar East Mr Den said yesterday are still continuing to export gold to Japan and for the same reasons as before the normal exchange operation The Japanese government I has never encouraged the export of ot gold from the United States by Japanese banks and recently the specie reserve of f the Bank of Japan has reached the same amount as that of the bank notes outstanding in other words a per percent percent percent cent reserve has been attained I understand that Japanese banks exported gold to the extent of last month and several millions more during December while the EXports ex exports exports EX ex- ports by these banks from July to October October October Oc Oc- Oc- Oc tober totaled Regarding the future course course to be followed I 1 cannot say exactly but I have some doubts as to whether the same tendency will wUl continue as heretofore hereto hereto- fore I