The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1896-08-14
The aalieia Daily Eagle: grday 7ormins august a. ass

ton, and they have helped to increase
the ordinary revenue Of the govern
| ment. Therefore, the japanese govern
| ment has for a long time found an
enormous surplus OF revenue over the
| expediture every year"
The efficiency Of these reforms and
| the soundness Of the japanese finances
were enough proven by the last war
| with China. The war, as all OF you
know very ell, LASTED about ten months.
beginning in August of 1894, when the
proclamation was made, and continued
to April of 1885. The japanese empire
spent an enormous sum Of money for
the war. exceeding over one hundren
and ten millions OF gold dollars. We
have raised the public debt twice dur
ing the war, issued government bonds
for more than 10000, 900 yen Zone yen
equals about "a cents in gold, which
were wholly subscribed by the people
at home. no foreign debt being contract
ed at all. although there were several
opportunities 10 get into foreign debt.
The people subscribed always far above
the amount CT money the government
required at the time OF war. The pa
triotiSm Of the Japanese people was no
doubt the principal cause yet without
sound financial organizations even pa
triotism could not be crowned with
success. The monetary market OF the
country was never disturbed. the pro-
gresS of business was not seriously pre-
vented, and everything was quite nor
NAL, although both the government and
the people were equally busy with the
war. How the japanese finances were
managed during the ar. il Is very inter-
esting to explain in full. But you must
be content with the statement that the
harmonious working of all this improv-
ed financial system already alluded to
was skilfuliy carried out by the jap
anese financiers.
Now that peace Is restored between
Japan and China, all the damages caus-
ed by the war must be repaired. japan
has TO receive the indemnity of go 600
900 taels from the defeated Chinese en-
pire, besides the island Of Formosa. We
have already received 80, 900 900 taels
and the island Of Formosa. The money
is now deposited in the Bank of Eng
land, and the object of my visit to Eng
land is to take charge OF it. We shall.
however, not be satisfied with the do
nation made by the Chinese, and the
present economical financial condition
OF the country. We have TO strengthen
the military force of the empire in or
der to put it in quite strong protection
against any aggression. We have at
the same time ii encourage the advance
ment Of our agriculture. industry, and
commerce, in order to facilitate the in
crease Of the national wealth. We
have to construct nen-of-war, to con-
struct fortresseS, etc, but only for the
purpose of protecting the country. We
have, on the other hand, to establish
new special banking institutions for en-
couraging our agriculture and industry;
to provide subsidies for naviga ton and
ship construction; and to improve the
different branches of industry and
trade We have devised a new system
OF taxation and revenue IN order TO
meet the present necessities, to effect
the expedientS above mentioned, to en-
the accumulation OF the wealth
Of the nation. and at the same time TO
strengthen the army and navy. And We
believe the new financial plans when
fully in force will secure for the govern
ment about $4,000. 900 yen annually"
Discussing the financial relations be-
tween this country and Japan, Mr.. Ha-
yakawa said: I'VE copied, indeed,
every mode Of civilization from Europe
part IN international intercourse with
the civilized nations. We are striving
TO get into the same sympathy, the
same feeling, the same conviction, the
same line of business, the same manner
and custom, the same style of iivcli-
hood, the same course of discipline. etc
We especially feel the good understand
ing towards the Americans, partly be-
cause we are nearer 10 each other than
any other civilized power, partly be-
cause since the day OF Commodore
Perry the Americans have shown great |
and gratitude towards the |
Japanese, and partly because many OF |
our conspicuous young persons have |
studied in America and brought back !
the fruits OF civilization. As TO the fl !
nancial questions, j may say that We |
copied at first the banking system OF 1
your country and then made gcaet mod I
.fcations in it. We copied your mint /
system; we copied your bank notes. /
We once copied the Mexican dollars I
now no longer in use. Thus the finan- /
rial relation is also very close. In trade /
you import our silks, tea, etc, and We /
receive from you -four, cotton, iron. etc, |
though We receive from you at present |
far less than from England or Ger !
many our currency CcIStStS VI S4iNri, |
DR. paper money convertible into silver. |
Any change in your monetary system |
will have a serious effect upon the trade |
between America and japan"
In concluding. Mr.. Hayakawa said: |
You need not fear the cheap japanese |
abor. the cost OF which is gradually /
becoming higher and higher; you must |
first OF all think how TO compete with /
t,our rivals that IS with the English or /
Germans, in the japanese market"