Magazine content is available exclusively for TIME subscribers.JAPAN: Fat Yens
Japanese speculators rubbed and rubbed their crinkly parchment-skinned hands. The yen has been mounting, leaping upward. Last week it touched 46.19¢, the nearest approach to parity (49.85¢) since 1923.
In the counting houses of Toyko could be heard a shrill, joyous cackling. Aged financiers assured one another over chopsticks* and rice that the Golden Sun of Japan will soon rise upon a yen restored to the gold standard. Meanwhile Japanese government officials called attention to the fact that the embargo against exporting silver from Japan was recently lifted without untoward results.
*"Chop" is...
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