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July 1, 1944

Tribune: "Enemy cruiser badly damaged off Saipan" — the Japanese lost only one plane. The only article on Saipan is small and doesn't mention any ground fighting.

"B-I's mission is explained by President." Laurel creates the Bureau of Investigation to "help the Administration establish an upright, clean and honest government."

"Enemy base in Chuchow is captured.... Japs launch new offensive in Chekiang province."

La Vanguardia: To control inflation, Executive Order No.65 places "the supervision of all banking institutions under the Ministry of Agriculture." Any nitwit can see the effect will be the opposite of what is intended. In fact, the market is flooded with countless millions of pesos seeking a haven because the public has been a step ahead of the restriction on withdrawals.

"Japan and Germany reiterate accord" to fight to the bitter finish. While the Allies insist on "unconditional surrender," the Axis talk about a "fight to the finish." Enough said.

Vargas has upset any and every dope bucket by going back to Tokyo.

"Constable accused of selling his shirt." Don't laugh; a shirt of West Point Khaki sells for up to P1,000.