Ogden Daily Standard | 1918-11-22 | Page 8 | Currency Contraction One Means of Lowering Prices in Japan

Currency Contraction ! One Means of Lowering j Prices in Japan! TOKIO, Nov. 21 Contraction of the currency which has been inflated in Japan Ja-pan owing to the war is recommended In many circles as one means of lowering low-ering prices, the soaring of which recently re-cently led to disturbances. Baron Takahashi, formerly minister of finance, expresses the opinion that currency contraction would undoubtedly undoubt-edly lower prices but he fears such a measure would bring in its wake a serious business depression. He pointed point-ed out that the amount of convertible notes issued by his Bank of Japan has doubled but as money of this nature na-ture is in the pockets of workers it j will be impossible to reduce its amount' and any attempt to do so would prove a blow to the business prosperity which is found'ed on an expansion of credit. oo