The morning news. [volume] (Savannah, Ga.) 1887-1900, 1896-02-10
JAPAN's SILVER WOES.
Suffering From the Continued De-
probation of Her Currency.
From the New York Herald.

From the New York Herald.
Toxic, Japan, Jan. Ill have seen of
late floating around in the newspapers of
the western part of the United States
some able articles touching the beautude
of Japan under her silvery system Of
finance. These articles are chiefly based
upon misinformation sent out from here
last summer by cursory newspaper CORE
spondents. The faulty material thus pro-
Vided is being distributed and employed
to encourage the Silverites of the south
and west Having no projudices on the
financial question, / wish 10 state a few
facts. Japan is not happy in her finances.
/ know that Count Okuma and other
financiers of his school love to talk about
the wealth that japan is accommodating
through buying in the markets of the
world for gold and selling for silver, but
the facts do not warrant their claims.
Japan, by force of circumstances, belongs
to the chop dollar sisterhood of Asia.
Some five years ago, when she maintained
her silver yen at something like par, she
went along smoothly and she enjoyed
fair prosperity. With the gradual decline
of the yen her business has been demon
Allied and she is now entering upon, IL
is very generally agreed, a season of de-
preston and hard times.
1t has taken the people and the business
world here quite a time to readjust them
selves, but they are at 1t now with a ven
geance. The penalty of a deprecated cur
rency is now being paid. For the last four
months there has been a steady demand
crease of pay which would enable them TO
live comfortably. AS the purchasing power
of money has grown less the prices OF
commodities and the necessaries of life
have steadily increased. The government
led off recently by doubling the salaries
of all it's foreign employees. This has been
followed by a number of big corpora
tions. Among the corporations doubling
the salaries of their agents and employees
may be mentioned the Mitsui Bussan Kali
sha the Nippon TetendO kaisha the MIN
pom Yusen Kaisha, the Mitsui Bushi GOSH
Kaisha, Japan Brewing Company, First
Bank and the Naigai Yotatsu Kaisha
These are representative concerns in the
mercantile, manufacturing and banking
departments of the country.
People who know Japan will see ct q
glance what they stand for. They have
Yielded to the demands of their people az
ter the usual struggle, and this is the be-
ginning. Wages are everywhere being
pushed up, and in all branches where skill
is required. Men are lying down on their
contracts and begging for CONCESSIONS
Bankruptcy stares thousands Of honora-
BILE business men in the face. This depres-
with China. Everybody knows that Japan
made money during her war. The govern
ment is richer than it ever was The de-
cline of silver has upset everything, and
a great uncertainty attends all business
enterprise. The first thing that a bust
ness man does in the morning is to look
at the value of the luctuatinR dollar II
may be worth fifty-three cents or If NAV
be worth forty-nine. Exchange dutfers
and shifts and considerable sums are lost
10 commercial men every day If they have