Well, Mr. Brown, we've settled everything in connection with this transaction except the question of payment in yen. Now can you explain to me how to make payment in yen?
Many of our business friends in England, France, Switzerland, Italy and Germany are paying for our exports in Japan currency. It is quite easy to do so.
I know some of them are doing that. But this is new to me. I've never made payment in yen before. It is convenient to make payment in pound sterling, but I may have some difficulty in making payment in yen.
Many banks in Europe now carry accounts in yen. They are in a position to open letters of credit and effect payment in yen. Consult your banks and you'll see that they are ready to offer you this service.
Do you mean to say that I can open a letter of credit in yen with a bank in London or Bonn?
Sure you can. Several of the banks in London, such as the National Westminster Bank and Barclays Bank are in a position to open letters of credit in yen. They'll do so against our sales confirmation or contract.