Empire Tempo

Quiet, steady progress toward a wider democracy and a stronger commercial structure is now the tempo of Japanese affairs.

Progress loomed even in the perfunctory opening of the Imperial Diet, last week, by the ugly but sublime "Son of Heaven," His Majesty the Tenno (Emperor) Hirohito. All present knew that the present session is the final one of the last diet to be elected under a law which enfranchised only 3,000,000 property owning Japanese. The new law, to become operative when a new Diet is elected this spring, enfranchises 9,600,000 adult males. Hereafter the unenfranchised will consist of women and of those men who are either paupers or receive charitable aid from the state or individuals.

Since the new Tenno has not yet been crowned--barely a year having elapsed since his father's death--the Diet unanimously voted, last week, a munificient appropriation for the forthcoming coronation.

Commercial progress was signalized by the fact that Japan has recovered her financial equilibrium after weathering the appalling panic of last spring. The series of business failures which then occurred forced even the great house of Suzuki into bankruptcy (TIME, April 18), and toppled the cabinet of Premier Reijiro Wakatsuki (TIME, May 2) who has been succeeded by Premier Baron Guechi Tanaka.

Today healthy recovery conditions are signalized by three facts: 1) Japan's unfavorable foreign trade balance has been sharply reduced by wise retrenchment; 2) Money has grown sufficiently plentiful in Tokyo so that large issues of securities are again being placed there, notably the recent Osaka Municipal Loan; 3) Tourist spending in Japan is on the boom; 4) Japanese interests in Manchuria are prospering under the firm if iniquitous rule of Marshal Chang Tso-lin.