Press translations [Japan]. Editorial Series 0069, 1945-12-07.
Date7 December, 1945
RepositoryRauner Special Collections Library, Dartmouth College.
Call Numbereditorial-0262
Call NumberDS801 .S82
Persistent Identifier
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EDITORIAL SERIES: 69
ITEM 1 Hasty Plan of Finance - Asahi Shimbun - 6 Dec 45. Translator: M. kawanabe.
Full Translation:
With the stir paused by the Allied apprehension of more war criminal suspects, and
with the difficulty in finding a president
for the Progressive Party increased by the possibility of another arrest order, the
air in the Green Room of the Diet seemed
to be tense and complex. Nevertheless, the discussions on the floor were somewhat
appealing to us.
The interpellation of Mr. NAKAMURA Sannojo, at the plenary session of the Budget
Committee attracted our attention when he
stated that in liquidating the huge amount of war expenses, inquiries should not be
confined to extraordinary expenditures
only. Exactness in the accounts demands the inclusion of contracts other than budget
figures and examination of Army and Navy
special arsenal accounts. At the same meeting of the Committee Mr. TANAKA, Isaji advocated
open procedures with regard to me
revision of the constitution, saying that no matter how, democratic the new constitution
may be, if procedures are kept
secret, as is the case with the Government and other authorities at present, the revised
constitution will never reflects
public opinions or sentiment. This statement certainly reflects the voice of the people.
Answering him, Mr. MATSUMOTO,
Minister-without- Portfolio, revealed his convictions about the problem and added
that the revision of the constitution should
not be made in the haphazard fashion as is going on at present. It is the fundamental
code of JAPAN, so it can not be Likened
to American ready-made clothes. This speech stressing the importance of the revisions
problem was the most outstanding one of
the day.
The five year financial plan, starting from 1946, was disclosed, by the Finance Minister.
It revealed the stupendous increase
in revenues totaling 100,000,000,000 yen which will result from the taxation revision,
including the imposition of war
profits, etc, but the expenditures for redemption of bonds, food subsidies, reconstruction
of damaged areas and social
institutions were not at all detailed. It might be called a plan of hasty completion.
Though it might be a diligent work, it
lacks foresight.
The Farming Land Adjustment Bill was also submitted before the committee. Stressing
the importance of the Bill, Mr. NISHIKAWA,
Teiichi, inquired whether the Government would prolong the session and added that
if the Government would not, the
responsibility for not completing business would lie with the Government. We wonder
why the words "not completing business" on
such an important bill should have come from his lips. Is there a germ lurking therein
which threatens our nacent
democratization with disease?
EDITORIAL SERIES: 69 (Continued)
ITEM 2 The Five-Year Financial Plan - Nippon Sangyo Keizai - 6 Dec 45. Translator:
J. Wada.
Full Translation:
Under the difficult conditions of defeat, the establishment of a financial plan is
significant not only in itself but in its
influence. Finance Minister SHIBUZAWA published a financial plan for five fiscal years
beginning with the fiscal year
1946-1947. It is obvious that the rearrangement of finance which has been in complete
disorder throughout the war cannot be
attained, in so short a time as one or two years. The Government is justified in aiming
to establish a sound finance in the
five years after the next fiscal year. But the announced Five-Year Financial Plan
is merely a list of what are called
"skeleton budgets" for the coming five years and does not include future items of
income and expenditure during and after the
next fiscal year. Especially in expenditures, the important items regarding reparations,
the cost of occupation and the cost
of rehabilitation are not included.
By such a financial plan, we cannot know the whole figure of the budget. Of course,
many of these items cannot be precisely
estimated now, but are nevertheless very important both in their nature and value.
The Government should not separate such
items from the skeleton budget, but should show the outlines of these items to the
nation as unsettled. According to this
financial plan of skeleton budgets, there will be deficit of 1,600,000,000 yen in
the next, fiscal year and an excess of
1,000,000,000 yen in the 1950-1951 fiscal-year. But if we add about 4,000,000,000
yen to be earned by a reform of the tax
system and the higher prices on tobacco, which the Finance ministry is planning to
put into effect, to the excess of
1,000,000,000 yen for the 1950-1951 fiscal year, there will be a total excess of about
5,000,000,000 yen for the same fiscal
year.
As for expenditures, there will be a decrease of 3,600,000,000 yen in the national
bond cost if the Government can redeem
100,000,000 yen of national bonds by the establishment of a property tax and a war-profit
tax. There will be an excess of more
than 8,000,000,000 yen for the 1945-1946 fiscal year.
For what expenditures are these sums set aside? Apart from the cost of occupation,
the way of dealing with such costs as
rehabilitation, social works, etc, will greatly affect not only finance but also the
skeleton budgets themselves. As for
general expenditures, the financial plan shows 7,700,000,000 yen for 1945-46, 4,300,000,000
yen for 1946-47 and 2,700,000,000
yen for 1950-51. Among the items include in general expenditures, not only the cost
of price compensation but general
subsidies should be reduced as much as possible. The sum of subsidies is liable to
increase for various reasons, but the
Government should reduce the sum at least to the amount shown in the financial plan.
For the establishment of a healthy post-war finance, the skeleton budget plan is
not as important as are the items excluded
from it. The revenue to be collected by increases in the property tax will repay 100,000,000,000
yen of the national debt
which amounts to 200,000,000,000 yen including indemnities. What should be done with
the other half of the national debt? The
sale of Government enterprises and properties to the public will redeem the whole
or a part of the national debt. That can be
one way. The reduction or postponement of indemnities, which constitutes for the most
part the future increase
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EDITORIAL SERIES: 69 (Continued)
ITEM 2 (Continued)
in the national debt, can be another way. The cost of occupation and the sum of reparations
are still unknown. However,
reparations will be paid by an increase in the national debt, and the cost of occupation
will be paid in cash. The cost of
rehabilitation is in part, the cost of unemployment measures.
Leaving these important items out, a true finance plan cannot be formed. Some index
regarding the variation in the currency
value should be taken into account. The outlines of these items, which are not included
in the skeleton budget, should be
presented to the public. For the stabilization of finance, not only the Finance Ministry
but the whole Government should make
a new start.
DISTRIBUTION "X"
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