Deseret evening news. [volume] (Great Salt Lake City [Utah]) 1867-1920, 1905-01-14

7 THE beginning or the war
N many European traders In the
n far east declared confidently
that Japan would repudIate her
national bonds within six months says
t. A. Mckenzie, war correspondent OF
She London Daily Mail Othere, who
professed 10 have inside information,
were equally sure that the government
had accumulated sufficient secret re-
serves TO meet the cost OF the war for
at least IS months, without outside as
sistance.
Both were entirely wrong japan has
30 far shown surprising ability to
bear the monetary burden OF the war,
yet this burden is proving itself very
heavy, The task undertaken by the
country was well summed up by Count
Okuma the famous Japanese states
man "Russias population" said he,
rs two and a half times more than
ours, and her revenue and army eight
times larger, AT the beginning of the
war, the Imperial Bank OF Russia pos
sessed a specie eserye Of 500 600, 900 rou-
bles (GS00OO. COO, against note issue
OF GOO. 600 900 roubles. while the Bank Of
Japan possessed l0OU0O,0OO yen tG5l D.
0O0l OF specie reserve, against over lVO,-
0O0 900 yen OF notes.
In the spring the position Of japan
was this 1t required, roughly, mil
lion and a quarter week to carry on
the war 1t had very small nationa
debt and singularly honest public ser.
trnptgs hut tho HAM, wealth was nom.
paratiyely small owing to the simple
| lives and low standard OF living pre-
| vaiing throughout the country
| In most parts OF Japan a workingmar
| can live I'm comfort on few shlling'
| a month | have had the salaries Of
| many Judges stated TO me as $40 z
! year. and high officials serve the natoI
| for wages which New York bricklayel
| would laugh at i'm scorn. The lives Of
| the people are unelaborate. Homes ar,
| plain and Inexpensive; the simple artt
! cles OF diet In universal use are amaZ
| ingly cheap; dress generally Is simpu
| and, although the japanese W0man hal
| some very costly articles OF attire, those
| articles are SO carefully kept as TO las
| for generations Ostcntatiou, eXtrava
| gance and expensive living are though
| bad form.
! AL this is admirable from the poin
! of view of building up national charac
! ter A simple people Is a strong peo
! pie, but simple lives mean low earn
| ings, and low ear ming nation goes I'M
| to the market as a borrower under 1
! handicap. Some optmists, / am aware
! attempt to argue that while living sim
! ply the Japanese have individually con
siderable savings There If one read!
! test for this, however, Where saving
! and spare capital are abundant. IN,
! rate Of interest earned Is low. In Japan
! according 10 official returns, the an
nual average rate FOR fixed loans rs TO-.
| per cent.
The low standard of living In lapal
! aided the empire I'm one way however
! II is probably true that Japan can rui
great war cheaper than any other ma
! tIon ON earth, The Japanese bushes
man has too often the reputation of be
ing trickster, but the japanese pub
ne servant In his dealings with the ma
tiOn is honest beyond reproach. " /
| impossible for one 20 conceive Japa
nese contractor selling the army rotte
stores or aduterated provisions. Japa
can feed her army and navy ch-aply
and the salary lists Of the fighting ser
vices are little more than nominal
war came, and with war came cal
for economy on all Sides Statesmen
and public men appealed to the natio
TO save 10 the limit OF personal eX