Blunt, hard-headed Walter Runciman. president of Britain's Board of Trade, called in Japan's Ambassador Tsuneo Matsudaira one day last week and gave him a strange ultimatum: Either the Japanese Government agree to divide the world's markets for cotton and silk cloth equably with Britain, or Britain would keep Japanese cloth out of Britain and its colonies by means of import quotas based on what Japan sold during the 1927-31 period. Ambassador Matsudaira passed the ultimatum on to his Government which presently sent back word that Japan wanted to think it over. But Walter...
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