The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1860-12-26
The News from Japan.

The News from Japan.
Tho bark Onward arrived at san Francisco November
80 from Kanagawa Japan. She brings dates to Nov l.
correspondent Of the Aka who passenger the
Onward, writcs-
At the Of our departure from Yokohama trade was
exceedingly dul and the prospect Of Improvement
anything but apparent. II that have greatly
overrated the staple exports of Japan From the con-
mencement TO the middle Of the present year IL uni
versay conceded that the supply of such staples
SILK rape seed oil tea, -four &C. would be at least equal
TO the foreign demand through the year. and that during
future the Japanese stimulated To increased indus
try BY this demand, would bring land under out
walton and thus increase rather than diminish the supply
Time is now, however, commencing to prove that
Of these were hasty conclusions jumped at by in
natural ignorance OF tho country and its resources and
not destined TO equal the general expectations Patc
ary this the case In the matter of the much talked
rape seed OIL During the first part Of the year this
tcle daily ntruded upon notice the absurdly
low figure Of rs cents per gallon
Toward June and July IL fell low 20c, hut IL
has suddenly and without apparent cause, attained the
unprecedented value Of so cons per gallon and not TO be
had in quantity at that figure Tho fact is-and
this very plausible explanation received from the ps
of large dealer in oi-that for years previous to the
opening Of this trade there had been annual surplus Of
oil and above the wants of the people, and that this
surplus was yearly stored away, N godowns, To-
ward "a rainy day. as IL Well, after some thir
forty thousand tubs had been thus stored away
the different rape seed growing parts Of the empire
came the opening Of japan to foreign commerce. Mer
chants now, who had all their lives been selling IL at
20 cents per gallon hurried forward their
as they found that the foreign merchant could afford to
give them increase Of five cents upon the national
titles were bought and shipped to China; that market
became overstocked and the sale In Japan was conse
The merchants Of Japan knew not how to account for
this sudden panic in the oil market, and many Of them
counting upon continuation Of the high price, had
dered largely from tho interior. With the daily arrival
OF these orders and buyers, the Yokohama market
now became overstocked in turn and the native mer
chants began to rembe their notes became due How
were they TO pay for all Of the oil which lying idle
In their godownsa The answer the same there rs
everywhere-sacr1ce. Thus the price suddenly fell TO
20 cents per gallon at which rates foreigners Of large
means were glad To buy-confdent Of future And
in this expectation they were not disappointed for
sooner had u all passed into foreign hands than heavy
rains destroyed the new rape seed crop, and with
this the information from the interior that the oil
godowns were all empty, and that 10 be
bad Now this rape seed oil to the Japanese what
whale blubber Ii TO the Greenander-an absolute
sty. No sooner did the scarcity, therefore, become
known than native dealers In all parts Of the country be-
Immediate adv snce in price was the result Soon the
country supply being exhausted they turned their eyes
TO Yokohama, and singular as the assertion may SEEM II
s the native merchants who now look 10 the foreign
chants for their supply OF OIL instead Of the foreign look
ing 70 the native This the reason why oil cannot
be bought In Japan under ffty cents per gallon.
With ten, silk, and -four the case " so bad but
even there the prices have advanced much that there
Is no poesibe margin for profit II seems, therefore
that one s justified in saying trade In Japan is exceed
ingy dull and the prospect Of Improvement disagree
ably poor.
THE CURRENCY.
confused state and diplomatic powers that be
Neroke rather 10 enjoy the fun than inclined assist
us out OF the mre. Our particular representative,
the Hon. Townsend Harris, 10 enjoy IL with most
superatve degree OF satisfaction Some months since
he sent written circular 10 all American merchants
QueetnR them To give their views upon the subject Of
remedyng tho evil This We did and hearing nothing
further upon the subject about 10 address him
when Bunsbylikc opinion In the premises which
he had been heard TO utter convinced OF the inuy
Of any such movement. This opinion very terse
20 exceedingly Bunsbyke that t must not be allowed
10 perish for want Of little ink Said Bunsby, "If the
ship Is thar, she's tharln Said Townsend "The va
hue Of the dollar VIII find Its own evci Oh, sapient
Townsend
HURRICANE AND THREE SHIPS LOST.
most destructive hurricane passed over Yokohama
on the 9Th Of September Many houses and godowns
one or two were driven upon the beach-these latter
were subsequently, got OF however. The damage 10 To-
the foreign residences leaked badly 10 drive
from 10 for shelter and shock 20 such
tent that many preferred taking their chance Of safety
In the streets where the component parts OF fences
stables, and storehouscs were flying about in
most exciting manner. Az one OF the results OF
this severe gale, have 20 announce the loss
Of three vcsseso war, with their entire crews.
These the English brig OF war Camilla, Prussian
schooner ef-war, and Japanese bark, purchased
some time since by Japanese prince. Tho Camilla left
Hokadad for Yokohama the LIST o September and has
not since been heard Of The Prussan schooner left
by the rgate near the port just before the Storm ana
had not been heard of more and the Japanese
went shore Simoda No hope is entertained Of
any Of them.
PRussTASs AFTER A TREATY.
Speaking Of the Prussians reminds me that they have
two frigates at anchor in the bay of Jeddo. On
effect treaty similar those granted ourselves
France Russa and Holland N generally reported that
they meet with little encouragement from the ia
panese and that the Minister had quietly shrugged his
shoulders and informed the government that being in
great hurry he would wait until he should meet with
somc encouragement.