1940-01-10 — Page 11

THE CHINA MAIL, JANUARY 10, 1940

CHINA WAR'S

EFFECT ON JAPANESE INTERNAL ECONOMY

(SPECIAL TO “CHINA MAIL "')

Tokyo, To-day. RETAIL PRICES IN JAPAN on December 15 were 42.1 per cent. higher than on June 15, 1937, the month before the outbreak of the China war, ac- cording to the Ministry of Commerce and In- dustry.

Among the price increases outstanding items were food, with 45.8 per cent., and clothes, with 47.2 per cent. over the pre-China war level. Paradoxically the highest price registered was for sea-food, which is so abundant in Japanese

waters.

SOVIET DEBACLE

Helsinki, To-day.

In the successful battle around Suomussalmi, reports indicate, about 6,000 Soviets were killed and 1,000 taken prisoner. The remnants are still being harassed.

Average retail price index is 13 per cent. higher than last year.

This was a disappointment to the Central Price Policy Commission, which succeeded in bringing down the monthly rise in prices to only 0.7 per cent. for October by a decree pegging all retail prices on the level attained on September 18,

Unfavourable rice returns after this autumn's harvest apparently largely contributed to the steady overflooding

of the Government's price pegging barrages since October.

Nevertheless, the Government is unwilling to abandon its control over prices.

FLEXIBLE POLICY

Until September the Government on had endeavoured to maintain отг re-bring back prices to their pre-China

war level.

The 44th Division of the Soviet Army, it is now learned, was being sent to maintain the pressure Finland's "waist-line," and to lieve the 163rd Division, which shattered by the Finns some days

ago.

was

The new Finnish success was due once more to the skilful patrol work and superior mobility of the Finns. The Finnish Air Force also cooperat- ed, bombing troops and supply con- voys.-Reuter.

CANADA'S WAR BUDGET

OTTAWA, TO-DAY. THE FINANCIAL BURDEN OF THE WAR, AMOUNTING TO SOME £6,000,000 A DAY, IS NOW BEING SHARED BY THE DOMINIONS. CANADA HAS UNDERTAKEN A PROGRAMME COSTING £70,000,- 000, WHICH IS HALF AS MUCH AGAIN AS THAT SPENT DURING THE FIRST 20 MONTHS OF THE LAST WAR.

This does not include Canada's other help, such as her part in the Empire air training scheme and the supply of foodstuffs, metals and munitions. Trade will be paid for by credits, to avoid shipping gold across the Atlantic Ocean. Reuter.

The present trend seems toward a more flexible policy, although the Government is watchful of possible harmful effects of increasing prices on the social body. Havas.

GUESSES EXHAUSTED

London, To-day,

Discussion on the Cabinet changes is beginning to hang.fire, awaiting Mr. Hore-Bellsha's personal statement in the Commons next week.

possible reason for his resignation, and The newspapers have covered every

reliable facts to go on.-Reuter. a lull is likely until they have more

LORD WILLINGDON

CALCUTTA

IN

Calcutta, To-day. Lord and Lady Willingdon, who are on their way to New Zealand, arrived here yesterday by an Imperial Air- ways' plane, to spend the night in Government House. Reuter.

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THE KING RETURNS FROM SANDRINGHAM

London, To-day.

His Majesty the King returned to London from Sandringham yesterday and received Mr. Hore-Belisha at Buckingham Palace, when the latter gave up his post. Mr. Hore-Belisha remained with the King for half an hour.

Immediately afterwards, the King received Lord MacMillan-Reuter.

JAPANESE TAKE ALARM

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Shanghai, To-day.

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