The Pacific commercial advertiser. [volume] (Honolulu, Hawaiian Islands) 1856-1888, 1870-01-08
Japan.

By the last mails, we received Yokohama pa
pers to October 3lst, but find in them no very
important political news. The authority and
Government of the Mikado appear to be fully
established over the dethroned Tycoon, and peace
pervades the EmpiIe. Respecting the trade and
commercial prospects of Japan, the Yokohama
Herald has the following, which may interest our
merchants:
'tThere is u notion prevalent in some quarters in
Europe, that the trade of Japan will never be worth
much-so many have lately suffered by their trans
actions with it and the reports of the past three or
four years having been so very unfavorable. All
who are we'll established here and nave studied the
country for u few years, know better. The varieties
of distractions that business has had to contend with
since 1864. have been very hard to surnount. Thus
in 1864, the japanese Government prevented silk
from coming in quantities to our market, and so,
many of our firms whose chief object in coming here
was to buy silk, were almost without occupationN
SilkwOrm's eggs had not as yet been permitted as ap'
article of export. The efforts of Sir Rutherford
Alcock, principally, in the matter of silk, and of
Monsieur Leon Roches in that of silkworm seed,
made an alteration i'll this. And 1865 and 1866,
saw business rapidly recovering.
1.-The great fire in Yokohama on the 26th of
November, 1866, followed shortly after by the great
fire in Yedo which destroyed nearly four miles of
houses (placing them i'll line), deranged all kinds of
commerce to an extent that only those who suffered
from it can truly estimate. 1t was not until we'll on
in 1869, that any signs of life again presented them
selves. The necessities of the people compelled the
Government to permit the import of rice and when
things had so far improved as TO raise strong hopes
in all merchants minds of a general consolidation Of
trade on the opening of Hiogo, Osaka, Neegata and
Yedo, then came the commencement of civil war in
January, 1868, and the financial difficulties of the
Government, and the triiing with the currency,
which have led to n very distracting state of affairs.
notwithstanding this long string of untoward
circumstances, the actual value Of trade done has
increased, and no one, on the spot, doubts that it
nil ntSnN T. nc.nnSn Ihn SfnD m 4 am ms ming
themselves can tell by their returns, what their
actual experience of the trade is but the general
opinion is that, if the Penisular & Oriental Company
and the French Messageries Imperiaes Company do
not appreciate the trade sufficiently to stir themselves
a little more, the more active and life-like Pacific
Mail Company will carry everything before them.
The old world companies may take n hint from their
new world rival. They have never thought it worth
their while to bother themselves about the cross trade
between this and Shanghai, taking the ports of the
Inland Sea and Nagasaki en- route. Their American
cousin has laid on steamers, twice the size of theirs,
to run every ten days. The Americans are smart
enough not to do this for mere honor and glory, or 4
to make n show of business. They tried the line
with one ship-they added another when they found
it paid, and now have got n third ; and as we have
said, these ships are to run regularly every ten days.
All this while, the old companies who so long occu-
pied the ground, seem to have been asleep.
Our friends at home may be sure that Japan has
still plenty of life in her. Indeed, business has
hardly commenced in her. She has been nOminally
open to foreign trade for ten years. The hindrances
to business have been very great and very numerous
hitherto: such as our steady-going merchants in
London, New York and Lyons have but little notion
of. But there is now an entire change in our cir
cumstances ; and we are certain that all things point
to a more liberal spirit and a more intelligent course
of action on the part of the Government. They have
much 10 contend with-especially in the
rectifcation of their currency but there is apparent
desire to do right, and foreigners must exercise a
little, or perhaps a great deal of, patience.
1--WE would recommend the Steamboat Companies
of Europe to put the best foot foremost, and mer-
chants at home to watch narrowly the advices of their
correspondents, and act accordingly. Foreign trade
in Japan will make many a fortune yet and a few
years will see the country furnishing as she has
never before DONE"