The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1905-08-19
Japanese Finance.

~ Growing steadily In Importance IN
world s affairs, while moving closer to
our country and the European powers in
diplomatic relationship, Japan has at
the same time become wonderfully
clever in the big things Of finance. The
Japanese have never been lacking in
shrewdness, and as long ago as 1850,
when Commodore Perry's reports of his
experiences in the opening up of Nippon
began to appear, there was much to in
dictate that the nation possessed in
herent capacity for greater develop
ment, altho lacking in experience and
knowledge Of the Anglo-Saxon way Of
pushing ahead. In all that Japan has
done since then the predominant feature
has been the evidence, not so much of
ability to originate new ideas, as to as
simulate and follow quickly the ideas
Of the more advanced nations. Every
new turn in Japanese affairs but
strengthens the belief that she will
soon have absorbed all that is of use
to her in American or European expert
ence, and in no way has she shown
greater aptitude than in mastering the
fine details of diplomacy and the intri-
cate relationship between western diplo-
macy and international finance.
This thought is suggested by the ap-
pearance of a report of the Japanese
department. of finance, brought up to a
recent date. It shows that while the
since 1SS3-1SS4 from $115, 1000, 900 to
- $725, 100000, the revenues for the last
fiscal year was $15O,OOO,0OO compared
with $37, 100000 It shows that while
the war has to date cost Japan $685.
908,lS5; she has made no such backward
step as would naturally be supposed.
The argument is that the reduction of
local taxes, the curtailing or stopping
entirely of local expenses, the holding
up of public improvements and the ma
tional thrift have operated to keep the
country in good shape against the in
creasing burden. ...:..
The economic conditions on the whole
as shown by big figures, are very favor.
able. There is such a showing as would
indicate that Japan will soon shake of
I her debt if she has opportunity, while If
she can put the burden of the cost OF
war upon Russia, she will be in fnan
cial position to command the respect OF
the world. .. +
Wherever the report has been com
mented upon there is noticeable dis
position to think that Japan has put thu
best side out in strong colors Tha
that country, not rich comparatively
having few wealthy men, and resources
rather slender at best, should have car
ried on the costly war without sever
suffering at home and much bad effec
financially can scarcely be believed. Ye
it is fact that the internal economic
and the heartiness with which the pee
pie have responded to the burdens pu
upon them make the situation in Japa1
different from what would ordinaril.
follow. To a great extent, no doubt
the report represents actual conditions
and if anything especially favorable ha
been put into the foreground Japan
not to- be blamed for it.
The appearance of this highly favor
able report coincident with the assen
blage of the peace ENJOYS at Ports
/. mouth is significant. Japan evidentl
wishes to show. the world that she is j
good financial condition, and that tn
she has borrowed freely and burdene