The Saint Paul globe., 1905-01-16
JAPAN PROSPEROUS
DESPITE THE war.
American Minister'S Report
Shows Good Condition
of Island


American minister to Tokyo dealing
with the present economic conditions
| in Japan and her trade relations with
the United States.
| Mr.. Griscom in several statistical
tables compiled from official sources
compared the first nine months of the
present conflict with the same time last
year. The, present year shows an in
crease in exports of $6,424,159, and an
| increase in imports of $10,0S0,579.
During the same period the increase
of exports In specie and bullion
amounted to s41,40S.3s4 and the in
crease in imports to s1.842,3T0.
| During the period in review exports
to the United States were valued at
$33sS98,422 and imports therefrom at
| $1a591 ,486, showing, as compared with
the same period of 1903, an increase in
exports Of $3,919,277 and an increase in
imports of $2,702,53s. Raw silk was
the principal item of export, showing
a marked increase. There was re-
| duced export of tea and coal. Kero-
sene oil, leather, rails. flour and sugar
were imported from the United States
| in larger quantities than during the
same period last year, while raw cot
ton imports declined.
Loans Easily Fioated
Mr. Griscom describes the readiness
with which the japanese governments
domestic loans have been floated.
With proceeds of the foreign loan of
$48,665,000, for which the customs re-
ceipts were pledged as security by the
government, the latter repaid the
money borrowed from the Bank of Ja-
pan by which the amount of specie re-
serve held by the central bank was
augmented and the expansion Of con-
vertible bank notes was checked.
The total amount of the national
debts of Japan at the end of Septem-
Der stood at about S444. .216,000, making
a debt per capita of about $9.46.
| War taxes have been increased on
land, incomes, business transactions,
sugar, mines, saki, bourses, customs,
| sumption of kerosene and stamps
while a new source of considerable
| revenue is found in the tobacco mo-
| nopoly. The official estimate of the
anticipated net income to be derived
| from that source. for the year ending
March 81, 1905, is $12,966,212, and $16,-
100000 for the year ending March 81,
| 1906. The government owned rail-
roads, likewise, which are valued by
the ministry of finance at about $685.
| 000, 900, are estimated to bring a
net income of $4,750,000 for the coming.
year. This item and the tobacco mo-
| nopoly are assets upon which, it is.
| generally supposed, further foreign
loans will be raised.
Specie Reserve Fluctuates
| At the beginning of the war the
specie reserve in the Bank Of Japan
/ fell quickly from $58,481, 900 in De-
l no. n 40 rno IT,
/ first foreign loan was doubtless re-
sponsible for an increase to $5S, ,646,-
| 900 in August, the normal condition.
( Owing to the abandonment of local
/ public works and improvements there.
1 has been falling off in taxes officially
/ estimated in round numbers at $10,-s
| 100000. The reports from Tokyo and
Osaka clearing houses for October,
! 1904, show an increase Of 1887 ,1S3.
4 In the value of bills cleared over the
| same month in 1903.
Although other clearing houses exist
| at Kioto, Yokohama, Kobe and Ma
goya, Mr.. Griscom says the Tokyo and
! Osaka houses indicate the trend of
| business in the country. The metallic
currency circulation of Japan for Oc-
| tober, 1904, shows a decrease of $2,-
! 791, $780,. The Japanese department of
finance estimates that at the end of
| October, 1904, Japanese bank notes of
| the value of about s95S,359 were cir
! culating in Manchuria and Korea.
| During the. entire year 1903, postal
/ savings deposits in Japan increased
4 $1,446,977, while during the first nine
! months of 1904 they increased $685.
825. The increase of $19,630.944 in de-
| posits in the leading banks of Japan
from January, 1903 to August, 1904
i Mr.. GriScom says, has been markedly
! free from fluctuations.
Vessel Tonnage Increases
Mr.. Griscom is informed by the Jap
4 anese commissioner of commerce that
| from July, 1903, Japanese registered
! steam vessels number 1,0SS, with a
i gross tonnage of 657, ,269 tons. In Sep
| ternber, 1904, they had increased to
! 1888 vessels of 753, las gross tons. Dur
/ ing the nine months ended Sept. 80,
/ 1904, there were added to the Japan
ese mercantile fleet 146 steamers of
161,S02 gross tons and there was loss,
mainly due to casualties of war, Of
| forty-one steamers of 66,034 gross
| tons, showing a net increase of los
steamers of 97,158 gross tons.
The report says that the necessary
abandonment during the war of sew
eral Japanese steamship lines of their
services to foreign countries also had
considerable effect in changing the
| channels of trade, as for instance a
j large falling off in the Importation of
raw cotton from India, which was the
principal source of Japan's supply and
which trade has gone to China
A striking feature in the industrial
history of Japan during the past year
is the unusual abundance of nearly
| all agricultural products, especially
the unprecedented yield of rice, the
| yield of rice being estimated to be
about 24S,145, 600 bushels for 1904, an
increase of about II, 1922 bushels as
compared with the yield of 1903. The
average annual yield of rice since 1901
cereal crops, especially barley and
wheat, show considerable increase as
compared with previous years. On the
basis of the present market value Of
| rice, Mr.. Griscom estimates that the
product of the country will be $22, ,52S, :
220 over last year.