The sun. [volume] (New York [N.Y.]) 1833-1916, 1900-09-09
JAPAN'S SOUND FINANCES.
HOW THE ISLAND EMPIRE or TIE
EAST MANAGES IT AFEAIRS.
A showing That None Of the Nations OF
Europe Can surpass-Carefui Manage
ment OF the Yamagata Administrators Pro-
duces a surplus-Ihe Annual budget

The proprietor Of the Japan Times, a news
paper owned and edited by japanese and pub
lished In English at Toxic, have forwarded TO
THE SUS proof sheets Of an article prepared
for the issue Of the TimCs OF aug. IS, dealing
with the Government finances Of japan for the
lest fiscal year, II Is the aim Of the article
~ present to Western readers reliable infor-
nation about things Japanese and the Views
and sentiments Of the people on important
topics. The article l. based upon a statement
In the g0ic,di Gaze te Of Aug. II Of the revenue
and expenditure of the Government Tor the
thirty-second fiscal year, which ended on March
81 last.
We observe with satisfaction, say the
editors OF the. Ttmts. that the financial opera
tons of the Imperial Government during the
year were crowned with a success far beyond
all expectations. suddenly called TO power in
the beginning e November, isgS, the present
Yamagata abinet found that the budget for
the thIrty-sccond fiscal year had been only
half completed by IL, short-lived predecessor.
the Okuma-ltagaki Ministry, the part elabo-
rated being that relating to the expenditure;
The shuI ;neSs Of time before the meeting or
the Diet made II necessary Tor the new Gov;
eminent 20 accept without any. fundamental
notifications the programme Of expenditure
bequeathed to il by the outgoing Administra-
ton and 10 frame in accordance with that
Irogramme the revenue side OF me budget
The budget patched up in this unsatisfactory
manner had IN further misfortune, when
submitted TO the Diet, Of being considerably
altered In the portions relating TO the revenue.
Nevertheless. with or, mary expenditures OF
1877 81 1900 ven last year as against 49, 4e, 600
| ven the year before. am extraordinary ex-
penditures OF li6,3iS. 600 yen last year, as com
pare with lOO.jO2 90 yen the prece ing year.
the Government report showed a total ordinary
revenue last year of i76, 10000 yen, as against
1872. $685. OO yen the previous year, and %extraur-
binary revenue last wear Of only 7~6,as2,Oo
yen as against 81, 2g9,OOO yen the year before.
The phraseOlogy of OrGin airy ami extraordinary
rHenue il eXulaine further on In the article.
which continues with reference TO the table
from which the above figures are taken as iol-
1T will be observed that the ordinary revenue
collected for the thirtv-second fiscal year shows
an increase Of 100000 yen over that OF ue
ptece ing year, whereas the eAtraor mary,
revenue reveals a decrease OF lO.OOO,OOO. ven
which Is an emincntly satisfactory sign. Tor IL
means that The stca increase OF income IRON
taxes and other or. mary sources enable. ths
government 10 dispense, TO the extent OF me
last mentioned sum, without resortlng 10 appto-
p~riatiOns from loans AM the war l~nCennty,
The excess Of the ordinary revenue over the
or mary expon iture amounte 10 as much. as
precc. ing year being about II, 100000 yen,
The net total surplus for the fiscal year unCer
well for the skill an intelligence with which
the authorities AT the finance department man
aged the fiscal affairs OF the country:
when II is remembered that the expenditure
includes a sum Of 100000 yen which was
debt. Whereas the Government had au-
thorized. in view Of the, possible deficits, 70
draw temporarily upon the funds OF the con-
the actual draft on those funds did not exceed
| 100000 ven. The skilful adjustment Of the
various items Of expenditure enabled the Treas
ury not only to cut down the authorized tenn
! porary draft on the continuing. funds by as
much as 100000 yen but TO find means TO
| redeem the debts by 1900. 600 yen. These
two sums added together, making 100000
| altogether. may therefore be regarded as rep
! r~eSanting the real excess Of the revenue Oven
the current expenses OF the State"
The Times writer concludes with this sem
| tence: That such a satisfactory result has
| been obtained under circumstances so unfavor-
able, ought. II il scarcely necessary TO point
out, 10 prove the fact that the Japanese fnan-
ces are on a sound and healthy basis"