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The author says that Japanese have always insisted that the Western nations do not understand the peculiar ways of the East, and that a system of world organization which might keep the peace in Europe and America would not work in the Orient. All Oriental peoples have suffered sufficiently from the white man's imperialism to distrust a system of world organization that appears to give white men continued domination. Fortunately Japan can be destroyed militarily without imposing fresh burdens on Japanese people.

The article discusses world politics. The reopening of the campaign in the Southwest Pacific in early July 1943 was a relief to many who feared that the absorption of the United States in the European phase of the war would allow Japan opportunity to exploit its conquests and become unbeatable. The long delay in launching an offensive can be ascribed to several causes. There was first, the preoccupation with the war in Europe, the tendency to underrate the importance of Japan. Secondly, operations in the Pacific, because of the distances involved, require mote time for preparation than elsewhere.

This article presents an account of the trade situation in Japan. This account is condensed from an article reprinted in the January 15, 1920 issue of the "Japanese Chronicle." When the armistice was concluded toward the end of year before last, a commercial depression set in for fear that Japanese industries would be unfavorably affected by the growth of the activities, after the World War I, in Europe and the cessation of demands for war supplies there. But owing to the complication of international politics and the frequent recurrence of labor troubles in Europe since then, industries were not restored so rapidly as had been expected.