Japanese Business.

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.