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THOUGH BLACK MARKETING in Japan, involving British and American occupation troops, continues to be a problem, stricter regu lations have curbed the activities of operators. There are two kinds of black marketing in Japan, and the most serious kind does not directly involve the Occupation troops. It is that in which numbers of Japanese have made huge fortunes since the occupation began by flagrantly defying General Mac Arthur's directives. These Japanese, including some members of the new Diet, stole and sold after the surrender about £ 200 milion worth of goods from arsenals and othy war stockpiles. During the vast year these stolen goods have been placed on the black market by Japanese “fences” acting for political high er-ups. An enquiry into this side of the black market is penciing, Currency Deals rPHE second type of black mar keting, however, does involve the Allied troops, and concerns Allied foods imported into Japan for the use of the Allied forces. There have also been currency deals in which British and Ameri can personnel have profbtably speculate, in pounds, dollars and yen. Most of these deals have been made by American troops with dollars. It is now generally accurted that the Allied Command made a mistake when, at the outset, it was decided to use Japanese yen for payment to the British and American forces, instead of using Occupation scripts. This mistake, which was an American decision, was later rec uitted, but net before it and cost the American Army Administra tion it tens of dollars and the British Occupation Foreign un revealed substantial sum by rea son of inflation and maneral dealings by shrewd Occupation persournel. The Americans now use Occu pation dollars and the British use Occupation pounds. This script is legal tender only at Al lied establshments, and not among the Japanese, Australian Operators J LIEUTENANT-GENERAL RKO- 4 BERTSON now has a Com monwealth Treasury expert, Bri gadier W. H. Leng, on his staff. The disparity between the ex change rate of the Occupation collar and pound and the yen, and the real purchasing power of the yen, is one of the chief temp tations which cause Australian and New Zealand soldiers to be come black-market operators. Prices of Japanese goods in Japanese shops are, based on the black-market rate, quadruple the official rates, which have been in force for about 4 year. During this time the issue of yen notes has increased to more than 200 billion—about four times the pre-war banknote circulation. While the number of pounds issued to the British Occupation Forces is rigidly contralted by paybook entries,‘and no British soldier can have a ‘e bank account (although a fish bank is operating in Tokio and Kure), American soldiers and their de pendants have been permitted to operate cheque accounts in two, private American banks. These private bank accounts, although they are supervised, cause black-market loopholes. Progressively during the Occu pation, the regulations have been tightened by both the British and American Occupation Administra tions in an attempto eradicate the black market. For this rea son the black market, involving Allied troops, though it is
Newspaper Details
Launceston Examiner
Launceston, Tasmania, AU
Tue, Mar 16, 1948
Page 2
Full Page
Clipped by
Tsz H.
GB 24 Jul 2026
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