Lawmaker proposes payout for bonds from Japanese occupation
Jan 16, 2017GeneralComments Off on Lawmaker proposes payout for bonds from Japanese occupation
A ruling party lawmaker is hoping to create legislation that would enable people to receive payment for treasury bonds from the Japanese occupation of Taiwan.
The bonds were issued during the occupation, which lasted from 1895 to 1945. The Japanese government has told individual bond-holders that the matter was handed off to the Kuomintang (KMT) run government in Taiwan at the end of the occupation. However, Taiwan's government maintains that reimbursement is the responsibility of Japan. That has made it impossible for people in Taiwan to get money for their treasury bonds for about 70 years.
The Democratic Progressive Party's (DPP) Chen Ting-fei introduced legislation in committee last November in the hopes of helping bond holders get their money back.
She said Monday that the issue is brought up during every legislative session but it never progresses due to a lack of support. She says she wants to help solve a problem that has been tabled for years.
First a legal basis is needed to look into the background [of the bonds], and what sort of arrangements the Japanese government made for them upon leaving Taiwan, she said.
Chen's draft legislation proposes that Taiwan's government should first offer reimbursement for the bonds, with the total figure not exceeding three billion Taiwan dollars (about US$95 million).
Although some have raised questions about that figure, Chen said that people understand the complicated historical background of the time. She said the hope is that the government can delve into historical records and clarify how the situation was handled at the time, and then proceed to deal with it.