WAR IN CHINA: Victory and Profits

The farther Japanese troops push into China, the poorer grow the folks at home. To Japanese army leaders the solution is obvious—soak Japan's few rich even harder. To do so, the army wants to invoke Article 11 of the National Mobilization Act passed by the last Diet. This article makes it possible not only to limit industrial profits, but to direct how they should be used.

It so happened, however, that Japan's Minister of Finance, Seihin Ikeda, was formerly managing director of the vast Mitsui Bank (he was rumored marked for assassination in...

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