The San Francisco call., 1896-04-10
Japan Not Successful in Collect.
ing the Third War Loan
IDS.allment.
DEMONSTRATIONS IN KOREA.
Massacres Committed in the Attempt
to Avenge the Death of the
Queen.

IOhIO, JAPAN, olSoS dAotASoo
exists among japanese sericulturists and
silk-brokers. Silk that could be sold easily
last year at 5000 per bale finds no pur-
chasers now even at $3.50. Thirty thou
sand bales are lying in Y okohama awaiting
market. and that large stock will now
be increased by several thousand piculs Of
spring reelings. No signs of a good demand
from either America or Europe are appa-
rent. The wholesale silk merchants ofY oko-
hama have petitioned the Government and
the two principal banks for aid, but with
out any favorabl result. 1t is calculated
that the minimum loss to japanese pro-
ducers and middlemen will be 500 per
bale on the stocks already accumulated,
which means a total loss of over So, 900 OO0
Among the thirty principal dealers in Yo-
kohama about dozen are reduced to the
verge of bankruptcy, and some twenty per
cent of the sericulturists in the provinces
are ruined.
An acute conflict between the central
authorities and the Municipal Assembly of
Toxic has just ended in favor of the latter.
There exists in Toxic, Osaka and Kyoto,
the three chief cities in the empire, a
special municipal system, one feature of
which is that the Governor of the city, an
official nominee, is mayor ex officio,
whereas the Office of mayor is elsewhere
elective. The system is distinctly un-
popular, and has the effect of greatly
aCcentuating any friction between the
Governor, in his capacity of mayor, and
the municipality.
Last autumn it was discovered that
japanese company, under contract to
supply iron pipes for the Toxic Water
Works, had for some time been carrying on
extensive frauds by substituting faulty
pipes for those that had passed the neces-
sary tests, the result being loss of over
1,OO0, 900 yen to the city.
In discovering and exposing this fraud
the Governor played useful part, but the
Municipal Asse mbly saw an opportunity
OF attacking him. Three times the AS
sembly passed vote of want of confidence
in him and three times 1t was dissolved by
order of the Minister of Home Affairs, not
merely for declaring itself dissatisfied with
the Governor, but because its action in
volved a legislative deadlock. Finally the
Government yielded and removed the
Governor to sinecure-the post of Court
Councillor. The event caused much excite
ment in the city and was loudly claimed
by the opposition as signal victory
The attempt to raise third installment
of the war loan in Japan has been uniquely
unsuccessful. The total amount of the
loan was 35 5,000, 900 yen. but of that sum
bands representing 25, ,00O, 900 were given
to the Bank of Japan in payment OF debts
contracted by the treasury during the war.
Thus the public were asked to subscribe
100000 only. But there is marked
tightness in the japanese money market
at present. ALI available capital is needed
for starting new enterprises, so that Gov
ernment securities sell barely at their face
value. Under these circumstances the
subscriptions to the var loan aggregated
only $4,000,0O0 and it appears probable
that the Bank of Japan will be obliged to
take the remaining six.
Antl-Japanese demonstrations continue
in Korea. The rebels now declare that
their main object is to avenge the death OF
the Queen by driving out the japanese.
The most serious outrage yet committed
has been the murder of fifteen japanese
fishermen at Phyong-ha some fifty miles
from Gensan. A party of twenty-four
fishermen, having landed to make some
arrangements for pursuing their occupa
tion, were suddenly attacked by an over
whelming force of the rebels. Unarmed
and unprepared, fifteen of the japanese
were killed on the spot. The remaining
nine, eight of them badly wounded. bare
ly escaped by swimming off to their Junk.
Other assassinations of japanese have
taken place here and there throughout the
provinces, and the Japanese residents of
Phyong-yang have appealed for aid. But
Phyong-yang is not yet accessible by wa
ter, and fears are entertained that the
little force OF nine policemen stationed
there may be unable to repel an attack
Meanwhile the women and children have
been sent away. Against the Japanese
settlement of Gensan still more formidable
demons nstrations are made, but a japanese
man-of-war having reached that place, no
serious danger is apprehended. 1t is
plain, however, that the Japanese nation
will not long continue to endure all these
outrages tamely. The Korean problem is
again beginning to cause much anxiety.
Scarcely credible rumors are circulated to
the effect that small parties of Russians
are travelling through the peninsula fan
| ming the anti-Japanese feeling.
The Japanese Governme Mt contem D Iates
State, the Colonial Office which will be
entrusted with the management of affairs
relating to Formosa and Hokkaido. The
| programme is denounced by the opposi-
ton politicians, who profess to see in it
nothing more than a device to preserve
| the balance of power between the Choshiu
and Satsuma statesmen. At present the
| Choshiu statesmen are predominant, but
if Satsuman man were appointed to the
| new office equilibrium would be restored.
| On the other hand, the source of this op-
position is evidently an apprehension lest
one of the distinguished statesman now
out of office should be diverted from ioin-
ing the opposition by receiving the new
| portfolio.
The British schooner Esmer aida reached
Hongkong on March 9, after most sensa-
tional voyage. Trading between the Mari
anna Islands and Yokohama, she had ar
rived within twenty-four hours sail of the
latter place on January 6. when heavy
gale and high sea dismasted her. Helpless
she drifted oceanward for seven days, and