The Birmingham age-herald., 1907-08-15
Why Japan Wants No War.

William H. Brill in Leslie's Weekly.
 These are those who believe that the time will come when America and Japan must fight for the mastery of the Pa cihc. but even if that time is coming 1t is many years away. Neither country wants to fight now; neither country has any excuse for fighting. While the mas tery of the Pacific may some day cause the two countries to appeal to arms, neither of them today has the slightest desire for war. anu neither has the slightest thing to gain from war. Japan has her hands full in Korea and Man churia, and America is not yet awake to the fact that her future lies In the Pacific That talk of war is silly be- comes evident if one makes even a cur sory examination of the facts. In the first place, no one Believes that the American government would precipitate war but there are many who believe that the Japanese government intends to do so One statement is as foolish as the other. Japan has no idea of making war on the United States. and even If she wanted to do so 1t would be impossible for many reasons. Some one once said that in order to carry on a war a country needed ten things. The first was determination, the second men, the third equipment, and the other sev- en money. Now admitting that the Japanese as nation possessed the first of these, determination to fight the United States what of the other re- qulrements?
 First, money. Japan's lack of money, if nothing else, would serve to prevent war at this time. In 1902 the Japanese national debt amounted to about s215,000. 000 of which only s500Oo coo was held abroad Today the national debt Is ap- proximately S900, 0O0000, two-thirds of which is foreign. In 1902 the total reve- nue of the government was about Sl47,- 0o0,000. and the expenditures were about $l44, ,0000O0 The estimated revenue for 1907 was sl20, ,00o,o00, and the estimated ex- pendtures S506 000 000 This difference was to be made up in part by the floating of another loan of sl0o0OO. On the for eign loans which Japan floated for the purpose of paying the expenses of the war with Russia interest is being paid at from four to six per cent, and on her internal loans the interest runs from five to seven per cent Efforts are now be- ing made to withdraw the six per cent bonds and replace them with bonds draw ing only four and one-half per cent. To secure her enormous foreign loans made at time when Japan was fighting for her very existence. the Japanese were forced to pledge most of their national income their customs receipts and the receipts of the tobacco and other mon opolies
 With this financial showing. where could Japan obtain the money required for a very long and very costly war? The money that defeated Russia came from America and England m a war with the United States what country is there that would take the chance of loaning Japan such an enormous sum as would be re quired? No matter how much sentiment there might be in Japan's favor-and there is at least one great power that would without doubt welcome such a has never been a fail- ing of the great European bankers, and 1t is from them, in the end, that the money must come.