Evening star. [volume] (Washington, D.C.) 1854-1972, 1902-09-17
COREA'S DECEASED COIN
BLOW STRUCK AT JAPAN's IN
TEREsTs IN THATelcoUNTRY.
Eyes Of the World Focus on Lands
About the Yellow Sea-Man-
churia and Russia.

Seoul Corr. New York Tribune.
Now that affairs In South Africa and the
Philippines have assumed a moro peaceful
attitude, attention will be attracted more
and more to the Yellow sea and the lands
which form its bounds. Recent travellers
through Manchuria affirm that in spite Of
Russias statement that the evacuation OF
that province has already begun, the build
Ing of substantial barracks and other struc-
lures Ii being actively pushed. There can
be no reasonable doubt that the handing
over Of Manchuria will be merely nominal
Russia will never move far enough to pre-
vent the possibility Of actual, though per-
haps not nominal control over. that terri
tory. The necessity for guarding the Man
churia branch Of the Siberian Railway will
always afford a pretext for the virtual
domination Of the territory through which
1t passes.
The Port Of Dalny.
This much must be taken for granted as
one Of the few definite facts in regard to the
whole situation in eastern Asia. The people
of America can have no reasonable obJec-
ton to this SO long as no structures are
put upon American commerce in those re-
gions. OF course one of the open questions
Is. how long will this territory be open to
free commerce? When the port of Dalny
was established by imperial ukase 1t was
officially stated that the port should be
open to the trade of all countries and the
adjacent territory to line to be determin-
ed by the minister Of finance at st. Peters
burg. In other words. while the port Is
free. the Immediate surrounding country
may be shut to foreign imports It is such
wide and obvious 1oopholes as this by which
Russia leaves the future open to the con-
summation Of her own plans.
Japanese in Corea.
But, while some things are fairly settled
In Manchuria, everything Is 'dn the air" so
far as Corea IL concerned. Japan has more
than twenty thousand subjects in Corea,
most Of whom are engaged in mercantile
pursuits. while Russian subjects can almost
be counted on the fingers Of the two hands,
ana Russian commerce Is practically ntl.
Japans heavy expenditure railroads in
the peninsula and the paramount interests
Of her merchants there have bound Corea
so firmly to Japan that the latter is vitality
affected by the course of events in Corea.
This has come to be one of the settled
points In the eastern problenl-namely, the
vital Importance Of Corea to Japan.
Deprecated Currency.
But recent events seem to Indicate that
these interests have been threatened. Ever
since 1884 Corea has adopted the curious pol
Icy that the exchequer can be replenished
by minting money. forgetting that it costs
about the face value Of coin to mint 1t hon
estly. Every issue Of coin since that time
has resulted in deprecated currency, and
during the last quarter Of the nineteenth
century the purchasing power of Corean
money shrank 80 per cent. Houses that sold
for 10000 cash in 1880 now bring 100 600,
and every other commodity has appreciated
In proportion. The latest issue of coin has
been the most disastrous Of all. 1t consists
OF 6ye-Cant DfckAlS Whi1A fhA nj
the country was the cumbersome copper
cash, of which ten pounds in weight was
worth only 81 United States gold, 1t was
practically impossible to counterfeit it. The
work involved and the size of plant neces-
sary to mint the cash in paying quantities
made 1t practically impossible to escape de-
lection; but the new nickel coins lent them
selves perfectly to the art Of the counter
feiter. The "nickel'' blanks could be pur-
chased in Japan or elsewhere at a cost Of a
cent apiece, and all the counterfeiter need
ed was a room by 8 feet and a small ma
chine for stamping the nickelS. The scrup-
ulous Japanese were among the first to en-
ter this field of unlawful enterprise and
the country was flooded with spurious coin,
and its exchange value steadily dropped,
until today it Is at discount of % per cent
as compared with Japanese currency
Japanese Trade.
Now, of course, this has worked ruin to
Japanese trade. The rapid fuctuation in
eACLdHSe dCltu Oh lIduc the way llldt tdI LII
quakes act on level rice fields. After a few
Shakes they will not hold water. A Sc
we're blow was thus struck at the very ba-
sis Of Japan's interests in Corea. At the
same time other influences, thoroughly in
imical to Japan, were urging the govern
ment to continue the minting of the OBJ
couraging the most conservative, and, in
deed. retrogressive, elements in the govern
ment. The object of all this could be
nothing else than to undermine Japan's
commercial supremacy in Corea. The rep
Of the Japanese government
protested against the continued use of the
obnoxious coins. though Japanese subjects
had played conspicuous part in debasng
considering itself secure in the possession
of foreign backing from other quarters.
turned deaf ear to Japan's demands The
publication Of the terms of the Anglo-Jap-
aneSe alliance caused something of panic
In government circles, and under the pres
sure of the moment the government was
induced to invite a high Japanese official
NJ Kato, esq.,, former minister to Corea to
come and act as adviser to his majesty.
But the cloud blew over, Russia blandly
accepted and applauded the new alliance,
and the Corean government saw that the
former status had not been seriously dis
turbed. So when the new adviser arrived,
instead Of taking his place near the en-
peror, he was made adviser to the depart
ment Of agriculture, commerce and public
works, which amounted to a direct affront
to Japan
Not the least ominous sign of the times
Is Japan's silence In the face of these re-
pulses There Is settled feeling in the
minds Of those who have watched closely
the trend Of events. that Japan has about
reached the end of temporizing measures
and that her next move will be something
quite definite and effective.
Ethics Of Consultations.