The times. [volume] (Richmond, Va.) 1890-1903, 1896-02-07
JAPAN'S SILVER WOES.
SUFFERING FROM COMMITTED DE-
PRECJATfON or HER CURRENCY.
Hard Times Being Felt-salaries OF I'm
pioyes Have Been Doubled To heti
Actual Living Expenses.

TOXIC, JAPAN. Jan. IL have seen
OF late floating around in the newspapers
Of the western part of the United states
some able articles touching the heautltuue
OF Japan under her siivery system OF
finance These articles are chiefly based
upon transformation sent out from here
last summer by cursory newspaper cor
RESPONDENTS The faulty material mus
provided is being distributed ana en-
ployed TO encourage the silveritcs OF inc
South and West. Having no picJlulces
on the financial question. ] wish 10 s'ate
"A few facts. Japan s. not happy lA n'i
finances ! know that Count Ohuhid an
other nnanciers OF his school rove ~
talk about the wealth that japan u az
cumulating through buying in the r,al-
kets of the world for gold anu stiili,s
for silver but the facts DO not Mali.it'
their claims. Japan. By force OF slIcu IN
stances, belongs TO the chop-eOidt H.a
ferh00l Oi Asia. Some I'VE years 49,
when she maintained her siiNet Yen ~
something like par, she went "lv.7
smoothly. and she enjoyed far pTospei Ivy
With the gradual decline 81 the yen u't
business has been demoralized' ana s ~.
f. now entering upon. b. Is very r. neihns
AGREED. season OF depression ana haru
times.
PENALTIES or DEPRECATED CUR
ikE-laf-A.
II las taken the people and the DUST
ness world here quite time 10 itauJ ~
themselves. bat they are al II nov Wiz, VIZ
vengeance The penalty OF utpt
ciated currency Is now bciag pdln' = -,
the last four months there mas 49, ~
steady demand upon the par; 0t sdidl i91
men TOT an Increase OF pay MilltH W .i'
enable them TO live comfortably. As nv
purchasing power OF money ms ."W -
less the prices of commodities ana lN'
necessaries OF life have steadily hi. 90
ed The Government led OF tec'H ny "f
doubling the salaries of all ~ ign
employees. This has been i"lo""d h4
a number OF big corporations. Ah"hE
the corporations doubling me -aiailcs OF
their agents and employees may To- men
toned the Nitsm Bussan balsh", t..t
Nippon TetcndO kaisha. the Nippon J u
sen Ksisha. the Mifsm Bushi GOSH l>ai-
sha. Japan Brewing COMPANY, flst ana
| Third National Banks, the 1itsul lfaih.
and the Naigai iOtatsu kaisha. ihe~e
arc representative concerns ID ~. H'1
camille. manufacturing. and banking &C.
partmcnts ~ the country.
BANKRU PTCY FOR MER CHANTS.
PEOPLE who know Japan viii see at a
glance what they stand Tor . hey have
yielded TO the demands 81 their people
after the usual struggle. and this IS the
| beginning Wages are everywhere belf
pushed up. and I'm all branches Were Skin
h. required Men are lying down Jn tneir
contracts and begging for concessions.
Bankruptcy starcs thousands OF honor
able business men iu the face. This de-
preston b. NOT due in any sense 10 the
war with China Everybody knows ira,
| Japan made money during her war. ihe
! Government is richer than n ever vas.
| The decline of silver has upset every
| thing and great uncertainty a.tenls all
! business enterprise. The first thing tnat
| business man does in the morning IS 90
/ look at the value OF the Nuctuauug Col
lar. 10 may be worth nfty-three Ccrts or
| IL may be- worth foriy-nine. exchange
huttcrs and shifts. and considerable sums
/ are lost 10 commercial men every day u
| tncy have foreign trade relations. japan
could not 30 10 a gold basis. no matter
| how much she tried. That would MEAN
| universal bankruptcy.
| DEpLORABLE FINANCIAL CONDI-
TlON.
/ Her general finances are deplord bic. and
! the condition must grow worse until bush
/ ness is settled down 10 the basis of a
| nity-cent dollar Not business concern
! In Japan viii escape the effect a. this
/ cuTtaiiment of profit Incidental 10 e 3
! per cent. Increase in salaries and wages
| The man who encourages SILVER basis
I FOR the people OF thc United Slates ly
! pointing 90 japan as glorious example
/ Is simply deceiving himself and ; is COun-
| trVmcn lie should le discouraged "a
| once. II g. unfortunate that just as the
/ business elements Of Japan are adjusting
! themselves Co the dehased currency tlt
/ tIOnal tax upon saH and -Oba eco. and
! impose registry tax which viii mate
/ rally add to the burdens 0I rhe People
John a. tOckcrill. in New AOrA Herald