I speak of the old Japan, because out of the ashes of the old Japan there has risen a new Japan.

We have listened here to the delegates who have recalled the terrible human suffering, and the great material destruction of the late war in the Pacific. It is with feelings of sorrow that we recall the part played in that catastrophic human experience by the old Japan.

I speak of the old Japan, because out of the ashes of the old Japan there has risen a new Japan.

There is fear as to whether Japan, reduced to such a predicament, could ever manage to pay reparations to certain designated Allied Powers without shifting the burden upon the other Allied Powers.

The second is that the role of China trade in Japanese economy, important as it is, has often been exaggerated, as proven by our experience of the past 6 years.

We pray that henceforth not only Japan but all mankind may know the blessings of harmony and progress.

By perfecting this legislative machinery and by participating in the various international agreements we intend to contribute to the wholesome development of world trade.