JAPAN: Takahashi on Roosevelt

Japanese affectionately call 78-year-old Finance Minister Korekiyo Takahashi "Daruma" after the pot-bellied Buddhist sage, symbol of good luck. Just now he is carrying on with the most colossal and appallingly unbalanced budget in Japanese history. Since Japan quit the gold standard (TIME, Dec. 21, 1931) her yen has fallen to 36% of its par gold value but there has been no monetary inflation, no starting of the Japanese Treasury's printing presses. Last week Mr. Takahashi, who in his youth indentured himself to an Oakland, Calif, farmer to work for three years for a total wage of $50, voiced his sympathy...

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