Willmar tribune. [volume] (Willmar, Minn.) 1895-1931, 1896-03-17
JAPAN IS FOR JAPAN. ,

The Penny Press" is indebt-
ed to Francis b. Clarke, of ST.
Paul for the following report of
an interview that is supposed to
have taken place. between the
Mikado of Japan and one of the
Rothchilds, during the recent
war between Japan and China.
1t shows clearly and correctly
why such silver countries as
Japan will not adopt the gold
standard, and credits the Mikado
with giving utterance to a CEN
sure of this country that is we'll
deserved:
Rothchild-Your majesty must
perceive that it is important for
Japan in order to compete with
the other countries of the COM
mercial world to adopt q gold
standard of money.
Mikado-I do no perceive that.
My people have hitherto sold, and
now sell, tea and many silk and
other products to other countries
and we have only silver money.
Roth.-Your majesty must
perceive that in order that your
people may travel in Europe it is
necessary that they have the
same kind Of money that the peo-
pie of Europe have.
Mikado- do not perceive
that. My people have travelled
extensively in Europe and have
never been able to get other than
silver from Japan. The poor do
not travel and if there is any
premium paid for the money of
other countries for travelling pur-
poses it is paid by the rich and
not the poor. | think it is there
fore restraint upon the waste
full expenditure of our wealth
that only those go abroad who
can afford it and the incentive
is greater to spend money at
home.
Roth.-But in order to advance
in civilization you must have a
gold standard of civilized c0un-
tries.
| Mikado-I do not think so.
What country has advanced more
than mine in these respects in
the last few years, and we have
had nothing but silver.
Roth.-But you cannot buy the
products of other countries if
you do not have gold standard.
Mikado-But we have bought
ships and many other things and
had only silver money. We can
sell everything we can produce
and that is enough. My people
will not have balance of trade
against them then. We can sell
it we cannot buy, and we will soon
make what we want.
Roth.-But your credit will
not be good as long as you main
tain a silver standard.
| Mikado-My credit has been
good with the people of Japan for
untold centuries. Yet | have
only silver. Why should I want
credit abroad when the Japanese
are capable of furnishing me
with everything. But tell me
| how could / adopt this gold basis
even if | desired to2
Roth. THAT is easy. Provide
yourself with a gold reserve OF
5000, 000,000.00. Then make all
taxes payable in gold and issue
$500, 900, 100000 of paper money
payable in gold but not receivable
for taxes.
Mikado-My people have no
gold. They have only silver.
But first, where shall get the gold
for my reserve. There is no gold
in Japan.
Roth.-I propose that my
house will accommodate you with
the gold.
Mikado-your generosity is
great. What will be your terms:
Roth.-The loan of course will
be an experiment. We shall ex-
pect the bonds of Japan for the
amount. These will be payable
in twenty years with interest
semi-aunqally at FIVE per cent
payable in gold.
Mikado-But how shall pay
the interest? My people have nc
gold and I understand. that the
reserve which you loans me is to
be kept intact to take UP the pa
per money and. the bonds when
due. *>.r =
Roth.-That is true. You
must, as l have said, collect your
taxes in gold.
Mikado-Then I must collect
taxes Of 5000. 100000 every six
months in gold in addition to what
already collect, to pay to you
for your gold which I must keep
idle. My country has never done
such a fool thing in all the cen
turtles of existence and you ask
me to be the first to do it. You
amuse me. Go On. But explain
to me how my people who have
no gold will be able to pay their
taxes in gold.
Roth.-That is simple. We
will establish hranch hanlx;;, n