One full year has passed since the stock market crash of the previous year. The bubble-like economic boom caused by World War I quickly turned into an economic depression. The Tokyo Nichinichi Shimbun reports that the situation in the the gay quarters or Geisha World has changed drastically. The 1920 Depression, which began with the Tokyo stock market crash on March 15, 1920, caused unprecedented price declines and corporate bankruptcies. The turmoil that began in the stock market led to bank failures and corporate bankruptcies, and from June onward, the depression became a serious condition amid the global economic recession. The wholesale price index (1900=100) recorded 268 in March 1919...