Evening star., 1901-12-24
INCREASE IN REVE ENUES
Special Correspondence of The Evening Star.

sta and Japan may some day be forced to
cross swords over the control Of Corea is
appreciated here, but 1t is not the desire or
Intention to force hostilities in the near
future Both Russia and Japan are seek
ing to base their position in world politics
upon a sound economic growth before they
endanger their upbuilding of recent years
by the vicissitudes of war. The methods
which Russia is pursuing in eastern Siberia
and .Manchuria are well understood at the
court of the mikado, and a resolute stand
VIII be taken against certain of the reported
projects of Russia, If they seem to be on
the point of fruition 1t is known that Rus
sia is slowly massing Cossacks on the best
farm lands of eastern Siberia, under the
guise of farmers, but really as fighting
men. 1t is known also that Russia is
straining every nerve to complete the trans
Siberian railway and to improve those parts
which have already been completed. These
measures, however, are considered a
part of Russian domestic policy which does
not call for suggestion or interference from
the government here at Toxic. There has
been war party which favored striking at
Russia before she could complete her estab-
lishment in the orient. This party still sur
wives, but does not now control the Japan
csc government.
Corea Let Alone.
There was a time when Japan seriously
desired to seize and hold Corea. This is not
the present ambition Of Japanese states
men. They are prepared to resist Russian
control of Corea, but they are willing that
the country shall remain for some time in
dependent. The Russians are much less
active In Corea at present than was the
case few years ago. The Russo-Corean
Bank, which was opened with considerable
flourish of trumpetS for the purpose of ex-
tending Russian political and financial in
fuence, was closed after a few months of
active operations, and banking has been
left In the hands of the English and Ameri-
cans. The fact that many Americans are
securing concessions in Corea and actually
doing the work of tramway and railway
construction, mining and manufacturing,
Is not offensive to the government of Japan.
The relations of Japan and the United
states are now so cordial, and their inter-
ests In the orient run SO nearly in the
same grooves, that American influence at
Seoul is considered beneficial to Japan in
contrast with the influence which might be
exerted by Russian. French or German
well understood that American enterprises
of this kind are much less political in their
character than those of Europeans usually
are. The success of the Americans in Sc
curing franchises is due in a large degree
to the efforts of Minister Allen, who has
Just departed on a visit to. the United
States. Without invoking the military
power Of his government, he has, by per-
Sistent effort succeeded in securing many
valuable privileges for American investors
and promoters.
Failure to Obtain Loan.
The determination Of Japan to let Corea
alone so long as the Russians pursue the
same policy, and the comparative relaxa-
tion Of Russian activity there, naturally
make for peace for the present. There are
some here who believe that the peaceful
attitude of Japan is due to her failure to
obtain a loan in the United States. This
may have influenced the attitude of the
Japanese court to a small degree, but 1t is
not probable that a loan, if 1t had been
obtained, would have been utilized for war
purposes beyond the continued upbuilding
of the navy and the education of the army,
which have been features Of japanese pol
Icy since 1894. A good deal of surprise Is
felt here that there should be any dis
trust Of the financial solvency and integ-
rity of Japan. The country Is not rich,
but the burden Of taxation is light, and
new resources of taxation could be opened
up II more revenues were needed. The re-
ported crisis In financial matters. of which
I shall have more to say in a future let
ter, did not cut deep and its effects have
already been largely spent. The conditions
which have caused some strain here upon
the monetary system were such as would
hardly have made serious impression in
an older country, where the stock market
breaks the force of sudden fluctuations In
the movement Of foreign trade. Trade bal
ances create q more immediate impression
upon monetary conditions in Japan than in
more advanced countries, because they
have to be promptly covered in gold rather
than by the transfer of securities. These
conditions have brought their own remedy
by checking the Importation Of foreign
merchandise and stimulating exports. Trade
in both directions has practically trebled
within ten years.
Increase In Customs Receipts.
This great increase in trade is the index
of the growing strength OF Japan In mat
ters financial. 1t enables her, by her in
creased receipts from customs, as well as
from other sources, to increase her public
expenditure without hazarding her general
position. It Is not understood here why
New York capitalists should hesitate to ad-
vance capital freely to the japanese gov
ernment, If satisfied that the money will
be prudently used It Is believed in fact,
that some mistake has been made in pre-
Senting the subject to lenders, and that
further negotiations will secure the small
amount needed at the favorable rates which
have been offered. Correspondence Is al
ready going on with New York bankers
who show disposition to take block of
Japanese bonds upon the terms which were
offered by the government. Bonds pay
ing per cent at par and offered at 80 per
cent ought to afford handsome profit to
convinced Of their safety. Little doubt Is
felt here that the offer will be accepted and
that Japan will be enabled to continue the
career of political and economic progress
upon which she has entered. How rapidly
ordinary revenue has risen from year to
year since the adoption by Japan OF Euro
pean civilization, and how carefully the
budget has been balanced in nearly every
case, appears from the following table for
years:
The Public Budget of Japan.
Year Ending. Ordinary Total
March 81. Revenue. Revenue.
1892 ............. sac, ,264, $50 $l03, 231 ,4SS
1898. ....... S0.728.018 10l ,46l ,911
1894. 4............... S5.6S3.0 .0S0 lis, 169, $50
1895. ............... S9,74S, 454 9S,170,O28
1896. ............... 95, ,444,652 lis 432, 721
17 104, ,004, sol lS7, ,019, 423
1898. 8............... 124, ,964 226, 900, ,123
$3.50. 9............... 132, ,800,336 220 0,054, ,128
1900. ............. III, ,32S, $50 254 254532
1901 ............. 19S, ,730,1S0 254 4o49, ,S1S
1902. .............. 207,54O,670 277, 497.OO3