New-York tribune., 1906-06-09
MIR. SCHIFF ON JAPAN.
Banker, Just Returned, Tells His
Impressions Of Country.

Jacob H. Schih returned from his tour of the
Far East yesterday. and after short visit at
his Office departed for his summer home at
seabright. n. J. Regarding his tour of japan
Mr.. Schiff said:
Our stay in Japan covered about eight weeks.
we spent a short while in Corea. We visited
most or the more important towns and other
points Of interest, and became much impressed
WIN The ways Of the people and their activities
Everybody in Japan appears to do work of some
Klno II is country without beggars, without
orunkards, and all polite and good natured
-Nothlng Is heard or seen Of the effect of the
recent war The people neither talk about il
nor nave they become overbearing or in any
manner intoxicated by their great victories but
nave quietly gone TO work 10 develop their indus
tries, 10 Increase their commerce and trade and
10 get fair control over the new markets which
the success of their armies has opened for them
tendency to exclude other nations from
these markets does not exist, the uniform and
repeated assurance being readily given by ia
pans leading statesmen that the promise OF the
.iopen door in Corea and Manchuria will, as
'ar as Japan is concerned be strictly carried
out Corea itself is gradually getting under eff
iectye japanese control and administration.
which win be much OF a benefit to this entirely
out OF date country. the resources of which an
pear TO have been dormant for centuries These
with proper and intelligent administrative meth
ods should promise rich results.
The natural resources Of Japan itself are prob
ably somewhat limited hut its people are frugal
intelligent and energetic and the burdens which
INC Iale war has imposed upon them do not ap-
pear 30 weigh heavily upon them. Taxes are to
a great extent indirect such as the customs
the sake tax, the tobacco and salt rnonopoes
the stamp tax, the trolley fare impost and a
Variety Of ether taxes. which all yield large
revenue 10 The state, as do the land and other
taxes, such as the income tax, Nhich latter
factory rc-ult
Under tie law a sufficient sum must first he
- apart from the government revenue to pro-
vide for the interest on the public debt and for a
siiiilHG fund. which latter the Minister of
nance estimated viii amount to a minimum
a. 3o.1SD.Oe0 yen year. and which he intends so
10 ScInilister that il will equal the new bonds
Tie government W:ll have 10 issue for tbe ac
QUESTION Of the private railroads These latter
bfGef q recent law, have become nationalized on
- 9or cent basis, payment to be made bv an
sNcnahee ot the railroad shares for internal
BONDS, such exchange 10 begin after two wears
ana 10 extend over period Of ten wears The
riiliroads acquired have almost all large earn
AE capacity, and when their purchase becomes
.,Dlhlletea they should pay large revenue to
The ba;illing system or the country is widely
developed and its currency seems to rest ON n
ilrln basis. The Bank of japan with branches
In all important commercial centres is aIone
empowered 10 issue the circulating medium
Mhich Is redeemable I'm gold on demand; IN is a
Lhnted asset currency protected by a consid-
eable Goid reserve, bat in time OF emergency n
may be expanded upon payment of a heavy tay
ms provision has even during the war pro-
nec1Si re country against Undue stringency and
htta4lcis4 Fefulsion Except the Bank OF japan
al banks pcy interest on deposits these sbov,fnp
2 constant increase. as do the bank cIearfngs in
Ire principal commercial centres which since
1850 have more than doubled
The people Of Japan appear 20 be thoroughly
convinced ct their manifest destiny and TTitb
oCt saying much II anything about IT. are evi.
oehuy determined to maintain the leadership n
the Far East, which they have gained through
tne war. Japan VIII, 10 doubt, endeavor TO Oh
tain most perfect understanding with China
VIII sustain the latter against further foreigI
aggression. but AT the Same time will hersel
make every effort 10 maintain peaceabie ar,
harmonious relations with aI other nations
The impression one receives is that Japal
kioHs exactly what IL needs and wants an,
These people. believing they do that they wan
"nly fhat which Of right belongs to them ar
determined. with d singleness of purpose TO OBJ
ta1h IL we met many. il not most of the me
VINO determine or WELD an influence in the con
duct OF the nations affairs and one and ALI a
them make the impression Of earnest pruden
End patriotic leaders
Great frief.dship is expressed s,,ar,,,ho.a ..
America and her people. We were the reciDient
n! much Hospitality. and every opportunitv wa
given us 10 become acquainted with the soc,a
economic and general conditions OF the countr,