The News-Herald. [volume] (Hillsboro, Highland Co., Ohio) 1886-1973, 1905-05-11
RESOURCES OF JAPAN
WAR HAS HAD NO UNFAVoR-
ABLE EFFECT ON TRADE.
Exports to United States Have In
creased Since Conflict Began
Interesting Report Of Amer
ican Minister.

MISREPRESENTATION Z. GriscOm gives
statistics showing Japan's wonderful re-
sources In a report that has reached the
state department He is the American
minister at Toxic and in his report COM
pares official figures on conditions for
the first nine months of the war with
Russia with those of the same period
before the conflict The war period
shows an increase in exports of So, ,424,-
159. and an increase in imports Of $l0,-
O80,597 During teh same period the in
crease Of exports in specie and bullion
amounted to SAL .i03. 1914 and the increase
in imports to $1S42.370.
During the war period Japan's exports
to the United States were valued at $33.-
s9S,622 and imports therefrom at $19,-
719.436. showing as compared with the
same period of 1903 an increase in ex-
ports Of $3,9l9.217 and an increase in i'm
ports of s2,702,53S. Raw silk was the
principal item OF export, showing n
marked increase There was a reduced
export Of tea and coal. Kerosene oil,
leather. rails. -four and sugar were i'm
ported from the United States in larger
quantities than during the same period
before TIE war. while raw cotton I'M
ports declined.
Mr.. Griscom describes the readiness
with which the japanese governments
domestic loans have been floated. With
the receipt Of foreign loan of $4S.6 $685.
GEO. for which the customs receipts
were pledged as security by the govern
ment. the latter repaid the money bor-
rowed from the Bank of Japan, by which
the amount Of specie reserve held by the
Central bank was augmented and the
expansion of convertible bank notes
was checked. The total amount of the
national debts of Japan at the end of
September stood at about $444,216,0 900,
making a debt per capita of about S946.
War taxes have been increased on
land, incomes. business transactions.
sugar, mines, sake. bourses. customs,
consumption of woolcn textiles, con-
sumption of kerosene and stamps, while
new source of considerable revenue is
found In the tobacco monopoly. The
official estimate of the anticipated net
income to be derived from that source
for the year ending March 81, 1905, is
sl2,966,2l2. and S16,OOOO00, for the year
ending March 81, 1906. The government
owns railroads that are estimated to
bring a net income Of 81, 75O, 900 for the
coming year.
Owing to the abandonment Of local
public works and improvements there
has been falling off in taxes officially
estimated in round numbers at $1O,OOO,-
900. The reports from the Toxic and
Osaka clearinghouse for October, 1904,
show an increase Of $21 ,157 ,S11 in the
value Of bills cleared over the same
month IN 1903.
The metallic currency circulation Of
Japan for October, 1904, shows a de-
crease OF ~, $50. The Japanese de-
partment Of finance estimates that at the
end Of October, 1904, Japanese bank
notes Of the value of about $953, 1896 were
circulating in Manchuria and Korea.
During the year 1903 postal savings de-
posits In japan increased $1,446,977.
while during the first nine months OF 1904
they increased $2,5SS, 725. The increase
Of 19.630,944 in deposits in the leading
banks of japan from January, 1903, to
August, 1904, Mr.. Griscom says, has
been markedly free from fluctuations,
A striking feature in the Industrial
history of Japan during the last year is
the unusual abundance of nearly all ag-
ricultural products. On the basis Of the
present market value of rice Mr.. Girls
com estimates that the increased in
come of the country from rice will be $22,-
20.850.