The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1900-02-27
JAPAN GETTING RICH
Has Great Factories and No
End of Steamer Lines.
RUSSIA G0BBLING CHINA
Her Far-Sightedness in the
Case of Manchuria.

Osaka, Papan, Feb. 25.-I first visited
Japan ten years ago, and it then had on
the seven-league boots Of modern indus
trial progress. I came again just before
country had again made giant strides.
Since then its business has been growing
ike a SNOWFALL rolling down hill, and it
is now one of the great manufacturing
nations of the globe. New mills of many
kinds are going up. Here at Osaka are
two score large cotton factories, operat-
ing more than one million spindles, and
last year eighty million pounds of cotton
yarn were exported to China A great
part of the cotton used in Japan is made
here, and the business is so growing that
in the case Of the division of China
among the powers this region viii Zoe
turned into one vast cotton mill for
making clothes for the Celestials.
Just above Osaka is Kioto, where there
are now modern silk mills run by electric
ity developed by water power and about
here and below, at Kobe, are factories
which are making matches by the mil
rea, India and Australia. In Toxic, 800
miles to the eastward, some japanese
have just completed a wooden mill, and
have now 300 hands employed in MAX
ing cloth to supply the Japanese demand
for wamer clothing, and at Nagasaki. the
extreme western portion of the Empire,
shipbuilding yard has been established.
which is making 60Go-ton steamers as
good as any constructed in Europe or
the United States.
The Japanese are, in fact, growing into
a rich nation. They are already the ma
hobs of the Orient, the richest Of the ma
tive races Of the far East. l do not mean
that they are wealthy in comparison with
the Americans or the Europeans, but they
are far ahead of any people of their own
kind. There are no beggars. I have not
been asked for aims once during my stay
in the country and I see no unemployed
Since the Papanese-Chinese war wages
have increased from 80 to 100 per cent.
and men who were working gefore that
time for and 10 cents a day are now
getting % and % cents, and more than
double the prices paid for the same class
of labor in China and Korea. Wages are
still steadily advancing. and though they
are still not more than one-tenth the sum
paid our workmen, they are enough to
be riches to the people here; they are so
high that many of the working people
are saving money. There are now more
than $120J0,0G0 on deposit in the postal
savings banks. owned by about 100000 |
depositors, and this Notwithstanding the |
people chiefly invest their savings in |
other ways.
AS to the growth OF wealth among the !
capitalists and the business classes. this |
is still more remarkable. There is no end |
of factories, banks and companies Of var
ious kinds which are paying good divi- !
dends. The Nippon Yusen Kaisha Steam /
ship Company. for instance, is paying % /
per cent, and there is a horse railway |
in Toxic which is paying 50 per cent. The |
road IS the only one in the city of a mil |
lion and a half population. It's owners |
were recently asked to increase their |
capital and equip it electrically. They |
refused, saying they We're doing very we'll |
and they doubted If they could pay a /
bigger percentage by the electric system. |
There is no doubt, however, but that |
they will soon have to make the change. |
The railroads Of Japan are paying. even |
those that belong TO the Government. |
There are now between 1000 and 1000 |
miles of track IN the Empire, and more |
have been projected.
As 10 banks, they are to be found ev-
erywhere, and as a rule they are doing |
well. Two per cent a month is not an /
uncommon interest rate. and the banks as
rule pay interest on deposits. The to-
tai amount OF native capital now used in
this way fots up more than $l25 00O, 90, /
the Bank of Japan alone having a CAPT
.al OF 5000 600 yen, or S15.000, 090 The
banks do business just as our banks do.
keeping their accounts and lending money
in the same way. They DO no "thank
you business OF any kind, and charge
their customers for any and every favor
There are large stock exchanges in Tok-
10 and Osaka, and the yellow, almond
eyed bulls and bears fight here over the
rise and fall OF stocks Just as our white