New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1904-11-10
K4NEKO TALKS OF LOAN.
Enpects One More Great Battle
Before Winter.

Baron Kentaro Kaneko. Of Japan. the ex-Cabinet
Minister who has beer in the country for several
months, IS staying at the Holland House. Seen
last evening he talked freely Of the prospects in
the line Of war operations and the new loan that
has lust been offered, one-half be placed in Lon
con and one-half in New-York. The budget ap-
proved by the Japanese Parliament year ago
said Baron Kaneko, aggregated 5S0090,000 yen of
which 201.G0005o yen was derived from taxes; the
balance was secured on loans-domestic and for
eign. OF the latter. may be remembered, Lon
den and The United States furnished 100o00G00 yen,
100000. The budget for this year. for all re-
quirements, ordinary and extraordinary, will be
about coo 10000 yen About the same amount as
last year will be raised by taxation. and approx
mately 100000 ven must be derived from loans.
OF this amount. 100000 yen, or $ee00o@O VIII De
equally divided between London and New-York,
The loan IS negotiated by the government at this
time under the constitutional provision. that per
nits it TO pledge the nations credit as war meas
ure for its urgent needs without having first been
authorized by Parliament That body will be
vened on November Is and that it viii approve
the loan admits Of doubt Both the people and
the Parliament are in sympathy with the necessi-
ties that dictate the loan and Parliamentary ap
Iroval becomes a mere forrality. The Offering of
last year was az %, with interest at per cent.
The present issue IS offered at S01a with the same
interest rate. and becomes a second charge on the
japanese customs. The annual interest charge on
the two loans viii be Sc $4,000 while the present
customs revenues IF Japan are I650o,e0 yen, or
curtal the administrative expenses Of the govern
rnent but the margin Of income Is certainly suffi
cieat"
Speaking of the military operations. Baron Ka-
reko said: Port Arthur must fall into japanese
hands very shortly. General Stoessel now simply
stubho-liy fights 10 preserve his honor and fame
as commander. and to do it he is needlessly sac
riacing the lives Of his The Russian soldiers
have fought bravely bUt their defence is hopeless
60 well 90 they understand this that they are
oaily deserving into our lines and throwing down
prisoners
well treated II Is my belief that one more great
battle will fought il. the Shakhe River Valley.
the result Of which cannot be safely predicted. and
that The COntending armies Will then 80 into
winter quarters the japanese probably AT Lao
Yang and the Russ:ans at Moukden. 1t seems en-
1ireiy improbable that even the Russians will care
face the biting wi1'is that sweep down from the
North Polar region and wage winter campaign
with the mercury 20 degrees below zero. We
learned in the war |ich CfiLa how 20 care for our
troons that climate III the winter the seventy
Of which is instanced in the fact that soloeTs IN
that campaign who might relllSve their heavy gloves
and grasp gun would strip the. flesh from the
"a Inns OF their hands when releasing it Our sol
diers in the field already equipped with fur
lined overooats, with the temperature !" degrees
z Do ZETe'