Los Angeles herald., 1905-01-17
GR|SCOM MAKES
REPORT ON JAPAN
MINISTER WRITES ON TRADE
CONDITIONS THERE
Discusses Commercial Relations With
United States and Tells Of
Economic Situation in
the Empire
BY Associated Pres.

BY Associated Presa
WASHINGTON, Jan. 16.-The state
department has received an interesting
report from Mr.. Griscom, the American
minister to Toxic, deuling with the
present economic conditions in Japan
and her trade relations with the United
States.
Mr. Griscom. in several statistical
communications from official sources,
compared the first nine months of the
present conflict with the same time last
year.
The present year shows an increase in
exports of $6,424.159 and an increase in
imports of s1O.OSO,597. During the same
period the increase of exports in specie
and bullion amounted to Sal, ,4O3,394 and
the increase in imports to $1,S42,970
During the period in review exports
to the United States were valued at
SS,S9s,6 622 and imports therefrom at
$19.719.4S6 showing, as compared with
the same period of 1903, an increase in
exports of $S919277 and an increase in
imports of $2,7O2,53S. Raw silk was the
principal item of export, showing a
marked increase. There was a reduced
export OF tea and coal. Kerosene oil,
leather, rails, -four and sugar were inn
ported from the United States in larger
quantities than during the same period
last year, while raw cotton imports de-
clined.
Mr. Griscom describes the readiness
with which the Japanese domestic loans
have been floated. With the proceeds of
the foreign loan of $4S, SOS, 900 for which
the customs receipts were pledged as
security by the government, the latter
repaid the money borrowed from the
Bank of Japan, by which the amount
of specie reserve held by the Central
bank was augmented and the expansio
of convertible bank notes was checked.
Japan's National Debt
The total amount of the national debt
of Japan at the end of September stood
at about S444,216.00O, making debt per
capita of about S9.46.
War taxes have been increased on
land, incomes, business transactions,
sugar, mines, sake, bourses, customs,
consumption of wooden textiles, con-
sumption of kerosene and stamps, while
a new source of considerable revenue is
found in the tobacco monopoly. The Of
fetal estimator the anticipated net in
come to be derived from that source for
the year ending March 81, 1905, is $12,-
,212 and $16000,000 for the year end
ing March 81, 1906. The government
owned railroads, likewise. which are
valued by the ministry of finance at
about $95,000,000 and are estimated to
bring in a net income of $4,750,OOO for
bacco monopoly are assets upon which,
it is generally supposed, further for
eign loans will be raised. At the begin
ming of the war the specie reserved
bank of Japan fell quickly from $5S, 4S1,-
900 in December, to S34,043,5OO in May,
when the first foreign loan was doubt
less responsible for an increase to $685.
$4,000 in August, the normal conditions.
Owing to the abandonment of local
public works and improvement there
has been a falling oy in taxes officially
estimated in round numbers at $1O,OOO,-
900.
The report says the Toxic and Osaka
clearing houses for October, 1904, show
an increase of $21. .157. .611 in the value of
bills cleared over the same month in
1903. Although other clearing houses
exist in Kioto, Yokohama, Kobe and
Nagoya, Mr.. Griscom believes the
Toxic and Osaka houses indicate the
trend of business in the country.
The metallic currency circulation of
Japan for October, 1904, shows de-
crease of $2,791, $50. The Japan depart
ment of finance estimates that at the
end of October, 1904 Japanese bank
notes of the value of about $95S, 1853 were
circulating in Manohuria and Korea.
Z Postal Savings Deposits
During the entire year 1908. postal
savings deposits in Japan increased
81 ,446,977, While during the first nine
months of 1904 they increased 81, ,55S, 1856.
The increase of $19, $50, 944 in deposits
in the leading banks of Japan, from
January 1, 1908, to August l, 1904, Mr..
Griscom says, has been markedly free
from fluctuations.
Mr.. Grscom is Informed by the Japa-
that on December 81, 1908, japanese reg
istered steam vessels above twenty tons
numbered 1888, with gross tonnage of