The Manchester journal. [volume] (Manchester, Vt.) 1861-current, 1905-07-20
Japan's irstFinancier.

ntE WAR
Although ADMIRAL Togo is q, present u
! biggest figure in Jspan, lot much less il
portant IL kortkiyo TskEhsshi. Wee Go
ernor OF the BaUk u japan, and hasnci
sgent Of his eouptry, who is now yisitit
In New York. lldirectly, Il was Tskah
shl, or rather his ability to negotiate los,
In London aud this country 10 the extei
OF S2t0, 900 600 to carry on the war OF, h
country, that made possible Admiral Togo
victories.
| Handicapped by early poverty and beI
In an atmosphere that T, Il eted one Of II
Oldest feudsl clsns Takahashi's aehiev
ments are all the more remarkable, Japa
seems to lave been eminently successful
the choice Of men for the responsible wor
1t imposed upon them during the uneertsi
times Of war. Every nau choten by th
Emperor for fiah snd responsible duty az
pears to have II led the flee with the cas-
and ripe judem ut that comes Of man
years of preparation. Especially Is tbi
true In the case OF Takahsshi,
At the beginning Of the war the predit
tion was generally made that the Japsnes
would not be able to continue lit for al,
length Of time, owing to insufficient funds
1t remained for X. Takshashl, who nov
ranks as the Pierrtpont Morgan OF Japan, Il
attend to this matter With the ease.. OF
financier long trained 10 the manipulation
Of vast capital. A prominent Japanes
olflcia! In speaking Of Mr.. Takshashi
work, SAID
Being able to float loan amounting t.
$3.50, ,0O0, 900 at time when success or dc
feat for our nation burg upon 1t, lie quite
as zeal efficiency as Tcgo's work in csptur.
Ing the Russian battleships.
Most discoursging Of ell was the isno.
rauce, both Ia England and here Of Japsn's
resources, physical aud commercial.
Prior to this there was little occasion,
opportunity, or even necessity in Japan for
the manipulation Of large sums Of money,
Jsnsn jan mi {, SsS shown by bpGyfo"t p8s fts "tgg IL sAse R
than two years ago, at the opening Of hos
t!lilles, the national debt OF Japan amount.
ed to only about $25O,OOO 600, or less than
the war loan made slrca.
Previous to this time japanese linance
did few sums where the ninth, or even the
eighth, figure was used, for the simple rea.
son that large fortunes in Japan were not
made, and, according to Mr.. Takahashi,
possibly never will be made. lu bis own
words:
No great fortunes are made! In q day, IS
they are here. This could not be done in
Japan, because the conditions do not exist
for 1t. We haven't the large wheat fields
or the big copper properties, for exam
pie,
OF course we have the tobacco and cot
ton crops, which yield great incomes, the
former amounting to $4,000, 900 net profit
annually, but we have not the varied T
sources OF America. silk manufacture and
the foe arts haveproduced some considera'
BILE iortunea. can say this, however-that
Americans can fad much better fields for
Investment In Jarar, paying In some In
stances almost double the dividends paid
on American Investments. Take The rail-
rosds. for instance, which pay from to 10
per cent.
was smszed by the vast fortunes being
made almost In a day, in this country.
Everybody talks In millions. Americans do
not bother about small things every thing
is built on q big plan. ! have tbieived
that II man talks to another sbout q small
business matter he will not listen; II the
thing under discussion iis big, he Ia all a.
tention.
The celerity with which Mr. Takshashl
negotiated the loans ls one Of the remark
able features OF his work. In making the
last loan for 30,000 0CD In March he ar.
rived oD a Sunday In London, ard the fol-
loving Gay arrangements were perfected
for the loan which WAS aunou-ced two
days later,
Mr.. Tskshashi Ia referred to by his peo.
pie as homemade man, having acquired
most lof hls experience and education 10
Japan ~ am also seli made mar" said
Mr.. Tsksbashi, with pride. when was
piue years old / started out to earn my own
living, and ! WORKED my way through
school,"
Some OF the Jspanefe governmental au-
thorities who admired the young fellows
D luck and ear nestness 10 his work, were
IN granting bis wish OF com
it z to America 10 study the En2lIsh Ian
gusge. BE remained 10 California for
sbou, year studying, returning to Japan
about the time Of the Inauguration Of the
new imperial regime. Soon after bis OH.
cial career began IS Instructor In the school
of langusge, established after the war OF
The restoration by th, Imperial Govern.
nent Hntfisial services were represent
I'd 10 various departmenis- Education, Az
and Commerce, the PAtent Bur-
ssu. Bureau, Of Agriculture atd Forestry
Md later be WAS Spsolaied to lhe ciiice Of