New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1904-07-03

errirnent subscribed one-nfth the capital and re
mitted the dividends on its shares for nve years
dividends must be held to strengthen the reserve OF
The Colonial Bank of Hokkaido was organized in
1899 with capital of 100000 yen its field of oper-
which bears 10 the other Islands relation some
Awhat similar to that which the western part OF ts
United States few years ago pore 10 the part ess
OF the Rockies. The functions Of this bank are
bans but 53 the conditions in HokSaido are so diff
feren from those in the other districts that il was
control The government subscribed for one-third
the shares and RENTED e to the bank the
The Industrial Bank OF Japan was founded in
c aef OF bodies what the Hypothec Bank does
AGRICULTURAL Industrial interests. Its capital is
correspond closely to those OF the other,
SEVEN GOVERNMENT BANKS
The seven banks just described may properly be
called P%nfs sfe re ea meeT the ean
ments OF that bank each is subsidized either by the
dividends, or other means, and each is under the
strict supervision Of the Minister Of Finance Ther
If elected must be approyied by the g0yern cr
tain services for the government.
Besides these there are many Pgvass banks he
to secure license from the government. TO puoHsh
Of hsr to 6e Ms 70 The
of the public are further guarded by special resua
lions regarding the reserves and investments vi
May OF the private banks are strong institutions
~ the Strongest is the Mltsui Bank owned by
members of the MitsUi family, who assume unllnl-
lied responsibility for the liabilities OF the bank
The Nitsu family. which now includes eleven
households has been identified with industrial ana
commercial undertakings for more than two CEN
turtles and has so long been noted for wise man
aeement and honorable dealing that the very name
has become a tower of strength. In the early days
p6 aae OF the family Upheld
Of tha government and saved the country from
bankruptcy When their services We're no longer
needed by the eovernment the Mtsri bd san fh
Mitsui family as a whole is engaged. was reorsan.
lied and IL is second only TO the Bank or
japan in the extent of its operations
Resides these native banks. some OF which have
branches I'm all the important commercial centres
of the world. the business OF the country IS as
in the treaty ports. Among these the most i'm
portant are the Hong Kong and shanghai Bank ana
the Chartered Bank OF INDIA Austrata anu hll1,
both English concerns; the Fsusso-ChlneSe Sank
with headquarters at st. petersburg; and the In
ternationaI Banking Corporation. whose head Of
* loo the total paid up capital OF the ordinary
native private banks 245.l5S,sl6 yen, and that
of the savings banks 26S3 957 yen Combining these
ment banks give a total paid up capital of 34T,-
1T 35S yen engaged in banking ar the end or lsto
The amount now Is undoubITsdly greater' put no
tIon nj the same date l27 49i 500 yen, and the
banknOtes 23Os2 40. while the public debt stood al
5G6 I67 24g ven The people of the country have
checks for paying bills and accounts but the use OF
these is increasing and is being encouraged by the
OF currency Clearing houses modelled after those
OF Europe and America exist In all the large com
merciaI cities The Oldest that of Osaka. was in
So has Japan been furnished with all the appli-
ances necessary to carry on the commerce. foreign
and domestic of a highly civilized and prosperous
in wisdom, and 1t only remains to future ministers
to follow - ths path already pointed out