The evening times. [volume] (Washington, D.C.) 1895-1902, 1901-08-13
JAPAN AFFEGED BY LHNA.
Troubles of tse after Country Re
ficcted in the Eemer's Commerce.


Alfred + Buck. Minister from the
United States to Jsau. has forwarded 90
the Secretary of site a copy Of "A report
on trade in japan prepared by Arthur
Hyde Lay for tn British Legation al
Tokyo. In this mater Mr.. Lay scays-
The IamentabI, occurrences in China
and the coutinUdt-0 of an uuS tiled state
bl dli.IrS nave asia as a CE"yk upon lht
rapidly expanding XVOrt trade Of Japan.
anu htr manufacturing Industries nave
suffered an conscience. Moreover. the
SIX crop, upon wiCh talS country IN lht
mann T'u@S 40 ddlSt the balance OF us
commerce with foeign countries. was
Sappolutment. With regard TO the inn
port trade. the inIatiuus in the autumn
OF 1873 were that u ensuing year would
gtIer splendid opportunities for business.
Inc result was tHt large Quantities or
goods were CTdeTH from abroad which
appeared in the rturns for 1900 and the
year oTencd witha feeling of OVerCoun-
N'nCe IN commercial circles. II soon be
came apparent, hcrever that the outflow
OF sUt Gle, which hd already begun, was
iikely 10 increase, and that the large ar
rivals Of commodities expected would md
am increasingly s-iuECut money market.
These are some Ofthe factors which have
operated untavorbly upon the trade OF
The scarcity { money available for
mercantile pUrpOrS, with the high rate
OF interest, was mach felt during the year
under review. II nay be pointed out here
INIA uNpTCuuCtlVe Npe LfdItu rt.. OF eNpedl-
tuTe on works OTi, remotely productive,
continues 70 bear - abnOrmally large IA
TO 10 the wealth Hd resources Of Japan.
II Is true that krgc part OF such eN-
ptndlJure takes tn form Of wages paid
within the Empires own borders. The
japanese Wage-eaner, however, probably
saves at present Vry much less. even in
proportion to the mount Of his income,
IMAM the European and American worker,
ana but little OF tir large wage eTpenui-
ture IN connection with the defence
WvFhS, dTmdrut hts railways. etc. goes 10
form capital IN aidof production. Under
these circumstance, the tendency TO an
excess of imports tVeT exports and con-
SeVIcUt drain Of SFCie must continue 10
exist ana an adequate cash reserve can
De maintained Oniya al sacrifice Of ease
IN the money markc by prudent limitation
OF the Government bauk-nOte circulation
and of credit facilities. The lotatiOn Of
foreign loans can )nly afford temporary
rtHei an this TtSpeC. and bearing in mind
the lmprnbabiiity under the most favOra-
Die circumstances Of any but quite
gradual increase j. wealth derived from
resources at present uHdevelOped. il is
one which should h escorted to with the
greatest ClrCu0lSpcuiOn.
For the whole ylar. the excess Of i'm
ports amounted 10 he large sum of -.
45y-l5l- But everything points to "a con
sac rable dlmiHutlOt Ia imports In 1901
The Government iron foundry at Nu-
Wata village Onga District FUkuOka Pre-
lecture IN hlushu, did not commence OPP
CTauOuS at the contemplated time. name
" July, 1900 NU has work vet been
begun, though the undertaking Is well on
It's way 10 cOmpletpn- trial working Of
the smelling furnace was made in Feb
Tu5ry with satisfactory results. One Tea-
son given for the EOstp0nement OF initial
operations Is the scarcity OF workmeu
available IN Consequence Of the great de-
mand for JapsneSe labor in connection
WIN the Chinese c-ists-
Foreign food stUffs are more and more
becoming a necessity for Japan. The
Yield OF agricultural products while il
Nuctuates. does nOt.undergO much perma-
nent change, and toe requirements of the
people are growing In 1870 the land under
cultivation for wheat and barley was less
IMAM IN the preceding year. but the har-
vest was good one, owing 10 favorable
weather conditions. Flour. meal and
starch, fresh eggs. condensed milk were
az imported in much larger quantities in
1890 than during the preceding wear.
- industries IN Japan languished in 1900.
FFdCJlcally no new undertakings were set
Oh tooC ana from those interested In al
Itady existing ones, the complaint Of lack
OF cheap capital was heard When as
frequently happens a company has 10
pay as much as "A per cent for money 10
carry on affairs. II is small wonder that
ciincuity IN continuing in existence is eX-
perlenced- The great desideratUm is the
Investment OF moderately cheap foreign
capital IN japanese enterprises. and many
6tfaif itifc555ti rfai.n made 70 secure OF 10
far, however, with one or two executions
nothing on large scale has been done
in the matter.
Certain classes Of goods are now ex-
empt from duty when imported for the
purpose OF imprOE ement. provided that
from the date Of their Importation The
Idea is said 10 be 20 import. for example
plates from France and have them decor
ated so as to resemble kutani ware. and
watches from the United States 70 be en-
ameIed AT NagayO and re-eXported.
The United states continues 10 en-
CrOach on spheres of trade which were
formerly considered under the exclusive
control of the United Kingdom OF other
nations. American competition is now a
permanent feature Of the import trade Of
Japan, ard is worthy Of the careful at
tention OF British manufacturers The
geographical situation Of the United
states with regard 10 Japan and the ca
geIHesS with which American maLufact-
urcrs are seeking a market in this COun-
try viii make her competitor more and
more formidable as time goes ou. In 1906
Americans gain secured number Of val
liable contracts for the delivery Of goods
In 1901. including one IOT rails. which was
estimated az E12gU. Among the reasons
for the very large figures To which the i'm
port trade from the uited States into ia
pan rose in 1890 was the fact that the ex-
tcnsive orders tho execution of which
Was undertaken there in the preceding
year, included 5000 tons OF rails. ~ hitch
al the high price then prevailing would
account for. SAY. E15O.UUU A large
quantity OF electrical ma chinerv for tram
lines and electric lighting and bridge
work and wire, as wei as -four are also
included In the returns. Telephone cable
WAS II one Tune a ulted States mDuUpO-
ly, but now German makers are fulfilling
large orders for IL. British manufacture
err, owing 70 the high prices asked for
nave so lar been unsuccessful in obtain
ing any contracts for this material
During the past few years there has
been a remarkable growth n the trade be-
tween Japan and China. OcCasiOued for
the most part by the opening up Of mar
kets for japanese manufactures in the
ueighbOriug empire.
"Onc Of the schemes whereby the ia
panese are seeking 70 attract foreign
capital is the granting 10 aliens Of per
mission 20 hold shares in japanese rail.
way companies. 1t has been decided that
there is no objection TO the purchase by
foreigners Of such shares provided thai
there exist no prOviso 10 the contrary IN
the bylaws of a railway COMPANY and
the Department Of Communications OF
June 3, 1900 informed eight Of the private
railway companies. by whom Il had beer
approached on the subject that they
light. If necessary alter their bylaws
so as TO open the door to foreign cO-Opera.
tiOn. Many Of the japanese railways have
been built in SparScly populated districts
more apparently with a view 10 unilitar,
contingencies than with he prospect OF
adequate return for the outlay In such
OF the railways, however, as traverse
popuIOus areas and connect towns Of com
mcrCial Importance. the investment Of for
eigu capital would be mutually beneficial
more especially if the foreign sharehold,
ers were able 10 exercise their influence in
the direction Of greater efficiency Of sery-
ice and the reduction Of useless expendi-
ture"
One Theory.
FT0m the New York WuldD