Press translations [Japan]. Editorial Series 0110, 1945-12-18.
Date18 December, 1945
translation numbereditorial-0370
call numberDS801 .S82
Persistent Identifier
EDITORIAL SERIES: 110
ITEM 1 The Points of the Financial System Reform - Nippon Sangyo Keizai - 14 Dec 45. Translator: J. Wada.
The financial organizations which played an important role during the war in soliciting
savings, absorbing national bonds, and
accomodating munitions enterprises, are now nearly suspendinging operations. On the
one band, they have come to a deadlock in
attracting savings, and, as is shown in the increased issuance of bank notes, the
payments are increasing. On the other hand,
movements of funds are very inactive on account of production stagnating. Though the
banks are not responsible for such a
situation after the defeat, they, on their part, have much to improve and readjust
in conformity with new conditions.
If financial enterprises are to function fully under normal financial conditions
which will be recovered in the future, and if
they are to be successful in business in the unstable post war economy, they should
make a fundamental re-examination of their
condition and business methods. Recently the Treasury Ministry set up the Financial
System Inquiry Committee, They should
realize as early as possible a wholesale readjustment of the financial system in preparation
for the property and increased
property taxes to be exacted next year.
According to a business report of the Bank of JAPAN as of the end of November, the
amount of bank notes issued was
47,700,000,000 yen and the sum of advanced loans was as large as 29,500,000,000 yen.
Another report of the Financial Ministry
reveals that the sum of loans advanced to munitions enterprises by their designated
banks is estimated at 32,000,000,000 yen
as of end of August and the sum of loans rendered to the city banks by the Bank of
JAPAN amounted to 27,400,000,000 yen as of
24 November, This great dependence of the city banks on the Bank of JAPAN has been
caused by the unreasonable disadvantage of
the city banks in absorbing national bonds and advancing loans to munitions industries
at the same time. It cannot be denied
that excessive dependence of the city banks on the Central Bank is undesirable for
healthy management of the Bank, though the
Central Bank and the city banks should be in close co-operation with each other in
many phases such as business and
funds.
The direct cause of the increased loans of the Bank of JAPAN was the financing of
munitions industries by the city banks.
Therefore, collection of the loans on the part of the Bank of JAPAN must be preceded
by calling in the loans advanced to
munitions industries by the city banks. Moreover, the collection on the part of city
banks can be assisted by indemnification
from the government. Thus, most of the loans to munitions enterprises are only tunnel
accounts between the Central Bank and
there enterprises. Such unsettled
EDITORIAL SERIES: 110 (Continued)
ITEM 1 (Continued)
accounts are, have the less, undesirable.
Although most of the loans to munitions industries were advanced to by the Bank of
JAPAN, some portion was contributed from
the accumulated funds, which are small in proportion but large in sum. This sets up
a difficult problem which cannot be solved
by indemnification. If these bad assets are not properly dealt with, it will not only
endanger the foundation of financial
organization, but will also be detrimental to the soundness of financial circles as
a whole, Moreover, this problem which was
caused by the war, end is still unsettled, will surely hinder the reconstruction of
the post war economy. Accordingly, such
accounts should he distinctly separated from the others and be disposed of in a special
way. Each financial body should take
measures of its own. such as clearing off these accounts with reserve funds. But this
is not enough, All banks and financial
bodies should cooperate for the solution and, as occasion demands ask for government
assistance, as was the case during the
financial panic and the great earthquake. The financial bodies which are to play an
important part in the revival of post war
economy should, first of all, liquidate all unreasonable matters which the war brought
upon them.
ITEM 2 Set up A Theory for criticizing War - Asahi Shimbun - 14 Dec 45. Translator: I. Kuniko.
Full Translation:
In World War II, the sum wasted on military preparedness and munitions by the countries
has been estimated at 1,154 billion
dollars, and the loss of property at 230,900million dollars. These sums do net include
the costs end damages of the ten year
Chinese-Japanese War. It is all too clear what a war today means economically to the
human race. Further, when we think of the
numerous lost lives and deformed persons, it is not necessary to argue here that the
prevention of future wars is the greatest
task for mankind.
Those responsible for World War II are being tried by the Allied Powers. This does
not only punish legally the criminals who
have invited the disaster of the war, but also leads to efforts which will abolish
future wars by criticizing war itself
through this punishment. Moreover, it is impossible for the old Axis Nations to evade
the responsibility merely by the fact
that special war criminals among them will be punished by the Allied. We believe that
the complete performance of the POSTDAM
Declaration is a minimum demand by the victors.
The crux of the problem, according to our views, consists in the fact that we Japanese
should all not only completely carry
out the Declaration, but should also make up our minds to do our best for the abolition
of future war by criticizing this war
and clearly acknowledging it as a crime. Only a JAPAN which is an advocate of world
peace will be permitted to participate in
international society. It is not sufficient that we are conscious of defeat, or think
war unprofitable. Such considerations,
if a definite reality is given to them, may be realized by any barbarous nation; but
we Japanese should not stay at such a low
level.
The fact that the victorious powers are making all efforts to abolish
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EDITORIAL SERIES: 110 (Continued)
ITEM 2 (Continued)
future war means that in spite of the Axis countries' defeat and collapse, there
still is danger of the outbreak of war in the
world. However, it is important for us to understand the fact that the greatest effort
is being made to exclude this peril.
Defeated JAPAN should net overlook this effort by the victorious countries. A sense
of defeat and the idea that war is
unprofitable has grown up spontaneously from the actual circumstances into which JAPAN
has been placed. Therefore, as noted
before, such criticism of World War II is too naive and vague to abolish future wars.
What we should do first is sternly criticize ourselves on the war. We must theorize,
in order to do so, and such theories are
not very clear in present day JAPAN. However much we may taste the bitterness of defeat,
there will not be any criticism where
there is no theory. Second, we can criticize war in general only through a criticism
of World War II. A means for the
abolition of war can be taken up with such criticism.
The world, under the atomic bomb, is being worried about its own contradictions and
crises. Such contradictions and crises
must be overruled by the co-operation of all the nations. However far it may he, we
should not reject as imaginary the day
when atomic energy, not as armaments will be made public to raise the level of life
of all the nations and enormous sums of
war funds will be expended for promoting the welfare of mankind. Truly, the most urgent
think for our country is raising the
level of theoretical discussion of World War II.
ITEM 3 Freedom of speech in the true sense of the word - Yomiuri Hochi - 14 Dec 45. Translator: S. Inoue.
Full Translation:
What answer is there if one asks whether or not there is the freedom of speech in
the Diet? The answer is: That the oppression
by the military cliques has been completely liquidated. However, this fact is far
from true. Superficially, in the Upper
House, Mr. MIYATA previously upheld the total abolition of the House, and now Mr.
OBARA is demanding great reforms in it,
while the so-called new figures among the peers are saying what they please. This
looks like freedom of speech. Actually,
however, they are trying to swim in the current of the times, taking advantage of
it, and are propagandizing for pardons for
any prewar crimes, aren't they?
This psychology led then to avail themselves of militarism when it was in its glory.
In other words, freedom to swim in the
current is not freedom in the true sense of the word. In the Lower House, acting on
the Farm Land Reform Bill, the parties
other than the Social-Democratic Party an not necessarily approve of the emancipation
of the farmer because of their
conservative point of view. Despite the above mentioned fact, we have not so far heard
of any opposing opinions from them in
any papers or on any radio broadcasts'. That is because of their concession to the
times and their concern over the opinions
of the voters.
Some members of the Progressive Party criticized the turn to the left in radio broadcasting
and said that they would discuss
the problem in the session of the budget committee. Nevertheless, this project
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EDITORIAL SERIES: 110 (Continued)
ITEM 3 (Continued)
failed to attain full development. That was due to the same worry over criticism
from the public. The government is forced to
listen to campaign speeches which the representatives arbitrarily call interpellations.
This can not to helped by the
government of a defeated country. However the members must be prudent enough to distinguist
liberalism from pointless
questions so as to bring about genuine democratic politics. Progress and enlightment
exist when a conservative expresses
honestly his opinion in a debate with a radical. Nothing great can be achieved if
we are militarists when the latter reign
over us and democrats under General MacARTHUR without being conscious of it. Radicals
esteem the opinions of conservatives.
There lies freedom of speech in the true sense of the word, thus bringing about true
parliamentarianism.
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