Arizona republican., 1904-05-26

ment has been during the last 20 years. Thus. in the decade from 1871 the total foreign trade gained 56 per cent; from 1881 to 1891. l2s per cent. and from 1891 to 1901. 257 per cent.
 Japan's principal exports are raw silk. habutai (silk goods). cotton yarns and cloth. matches. flour. mats. tea. camphore coffee and coal.
 The country's imports include ma chlnery (spinning and weaving. mining and metal-working machinery and To- comotives). ison, petroleum. sugar, cot ton and cotton tissues and wooden goods. During the war, of course. tae imports Of other goods. especially from the United States are reaching huge dimensions. This is particularly true of foodstuffs. and the dispatches a day or two ago announced that Japan csc agents were trying to contract for the entire rice crop of Texas for ths current year.
 The south finds one of it's best mar kets for cotton in Japan. That coun- try now has ninety-five cotton mills. with 100000 splndles and 74,OOO opera lives.
 With the reform In all lines growing out of the revolution and the centraliz- ing of authority in the mikado's gov ernment. the old time rice taxes gave way Co a land tax. In 1881 this tax produced two-thlrds Of the entire reve- nue. Today taxes on alcoholic bever- ages. sake brewed from rice. and beer. producing s6. .OO0. 900 yen. are the largest sources of revenue, The land tax pro duces t7.0OO.oOO yen and customs duties ie. e.55O.s55 yen. Income taxes. those on various kinds of business, on sugar. stamps and miscellaneous receipts from public undertakings and property make up the balance of the 2Sl.S0Z.4ss yen estimated as the ordinary revenue of Is0s-04.
 Even in its capacity as a borrower Japan may claim To be strictly modern and. comparatively speaking. pp-to- date. It's first lean was aoated In 1870. and g per cent. interest was paid. This and all subsequent loans issued up 10 1886 have 5een. with trifiing excep- tiOns. redeemed and cancelled. The public Ioans Issued from 1870 up to the close Of the year 1903. and therefore not Including loans Issued to provide fer the present war. aggregate ss6,- CsGlg0 yen. of which one-thlTd has been redeeemed. leaving the outstand- inS debt gso.ss2. .szI yen. Of this debt about one-nfth was for military or naval purposes. one-thlrd was for the taking up Of previous loans Issued to provide for reforms growing out Of placing Japan on a modern basis. and ths balance mostly comprised borrow ings Co promote great public works or railways. The national debt al the elors cf iso3 was i2A yen C.s55) per capita. According to the programme os the Ja9anese government. all the debts win be cleared off by ists. This. however. coes not take account o; loans issued since January ! to provide For existing hostlllties.
 The Japanese patterned their nation al banking system after that of tke Unitsa States. but lt failed 10 meet the needs of the country ln the matter of pToyidinE an adequate and elastic cir rslzslon. and ths bank Of Japan was established ln issz Co make up for the shortcomings of that system by pro- ylGing a central bank supreme above All others Today Japan has LsS5 or eiEsTy tanks Sss savings banks and ss lndusifial 0r agricultural besides other banks wlth special missions and purposes.
 yapzn vas originally "a gold standard country. It trisd the experiment Of sly-r standard ln isss. and having met ~ith dlsasisF. returned To a gold basis in iss7. when the war indemnity of -ss. .egol. eco taeis exacted from China vas pzld in gold.